Just Salad Raises $200M
🏨 InterContinental Hotels Group PLC acquired the Ruby brand from Ruby SARL for €110.5 million (~$116 million). Ruby, established in 2013, operates 20 hotels with 3,483 rooms across Europe and has 10 more hotels with 2,235 rooms in the pipeline. The acquisition includes an upfront payment of €109.9 million and a deferred €0.6 million. IHG anticipates franchise fees of $8 million in 2028 and over $15 million by 2030, with integration costs around $10 million in 2025. Additional payments to the seller could reach €181 million ($190 million) if they operate over 20,000 Ruby-branded rooms by 2030 or 2035. Integration of Ruby hotels into IHG is expected to commence in 2025 and complete by March 31, 2026, increasing IHG's system size by approximately 0.5%.
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