09
News
www.asianhospitality.com
July 2025 | Issue 238
HG Hotels & Resorts nearly doubled
its global conversion signings from
2023 to 2024, with conversions
accounting for about 60 percent of global
openings and 40 percent of signings in
the first quarter of 2025. IHG brands
including Vignette Collection, voco hotels
and Garner Hotels recorded highest
openings and signings last year.
Also, the company expects Ruby, its
recently acquired European boutique
brand, to be franchise-ready in the U.S.
later this year and plans to open more
than 120 branded hotels in the next
decade, IHG said in a statement.
The early 2025 acquisition of Ruby,
IHG’s 20th global brand, adds more
than 30 hotels to the portfolio. Ruby’s
“urban micro” model is used for new
build, conversion and adaptive reuse
projects across European cities, including
openings in former office buildings and
non-traditional commercial spaces, the
statement said.
“Owners’ growing interest in
converting hotels to IHG brands signals
that they continue to see value in our
brands and in the ability to plug into
IHG’s enterprise system,” said Jolyon
Bulley, IHG Americas CEO. “While new-
build development will always remain
important globally, our broad portfolio
of soft brands and those suited for
conversions across the chain scales give
owners more choice and avenues for
success.”
Vignette Collection, launched in 2021
for the luxury and lifestyle segment, is on
track to nearly triple its global estate and
has surpassed 60 percent of its goal to
reach 100 hotels in its first decade, IHG
said. Similarly, voco hotels, catering to
the premium segment, aims to reach 200
open or pipeline properties globally by
2028.
Garner Hotels, launched in 2023, has
surpassed 120 open and pipeline hotels
and aims to quadruple its global reach in
the coming years, it said. The brand has
attracted owners with its competitive
conversion cost per key, flexible design
standards and lower pre-opening costs
through a rapid conversion process.
Conversions drive 60 percent
of IHG’s Q1 openings
Boutique brand Ruby is expected to be franchise-
ready in the U.S. later this year
IHG Hotels & Resorts nearly doubled global
conversion signings from 2023 to 2024. Also, its
recently acquired European boutique brand Ruby,
pictured, will be franchise-ready in the U.S. later
this year.