InterContinental Hotels Group FY24 profit misses expectations, acquires Ruby brand
Led by increases in revenue per available rooms (“RevPAR”) in Europe and the Americas which offset continued losses in China, InterContinental Hotels Group (NYSE:IHG) realized a 15% improvement in its profitability as revenue increased by 7% to $2.
IHG Acquires Ruby Hotel Group For $116M, Plans Worldwide Expansion
IHG is continuing its global growth with the acquisition of Ruby Group, which operates 20 hotels across Europe.
IHG Buys Ruby Hotels as 20th Brand
IHG will acquire the Ruby hotel brand in a deal worth up to €291.5 million ($305.7 million). Its 20th brand is big in Europe.
InterContinental Hotels Group acquires Ruby, its 20th brand
InterContinental Hotels Group, a British hospitality giant that includes Holiday Inn, said on Tuesday it has acquired premium European hotel business Ruby for an initial €110.5 million ($115 million).
Holiday Inn owner IHG buys Ruby Hotels as profits rise
It came as InterContinental Hotels Group revealed that operating profits grew by 10% as it benefited from more hotel openings.
IHG Hotels & Resorts acquires Ruby, its 20th brand
Ruby is a premium urban lifestyle brand situated in major city destinations. IHG expects to rapidly expand the brand globally. Established in 2013, the brand currently operates 20 hotels (3,483 rooms) in major cities across Europe with another 10 pipeline hotels (2,235 rooms).
IHG takes over urban hotel group Ruby
European urban lifestyle brand Ruby has been acquired by Holiday Inn owner InterContinental Hotels Group (IHG) for $116 million. Ruby operates 20 hotels and eight workspaces across Europe with five more due to open.
FTSE 100 owner of IHG buys Ruby Hotels fir an initial £87.6 million
IHG said their operating profit rose by 7% to £1.83 billion in the year and the sales metric, world wide revenue per available room increased by 3% and in the final quarter of th
InterContinental Hotels Group Lifts Dividend After Rise in Revenue
The London-listed group will propose increasing its 2024 dividend by 10%.
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InterContinental Hotels Group PLC closed 7.15% short of its 52-week high of £109.75, which the company reached on February ...
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InterContinental Hotels Group rises Monday, outperforms market
InterContinental Hotels Group PLC closed 2.55% short of its 52-week high of £109.75, which the company achieved on February ...