InterContinental Hotels Group (IHG) has acquired the Ruby™ brand for €110.5m (~$116m), expanding its presence in the premium urban lifestyle segment. Ruby currently operates 20 hotels across Europe, with 10 more in development. Its ‘Lean Luxury’ concept blends stylish design with efficient, space-saving operations. IHG plans to scale the brand globally, targeting 120 hotels in 10 years and 250 in 20 years. Leveraging IHG’s distribution network and loyalty program, Ruby is set for rapid growth in the Americas, Europe, and Asia.