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.
Vishnu Rageev R is a journalist with more than 15 years of experience in business journalism. Before joining Asian Media Group in 2022, he worked with BW Businessworld, IMAGES Group, exchange4media Group, DC Books, and Dhanam Publications in India. His coverage includes industry analysis, market trends and corporate developments, focusing on retail, real estate and hospitality. As a senior journalist with Asian Hospitality, he covers the U.S. hospitality industry. He is from Kerala, a state in South India.
What drives IHG’s hotel conversion growth in the U.S.?
IHG 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.
The early 2025 acquisition ofRuby, 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.”
Conversion hotels give owners access to IHG’s enterprise, including marketing, technology, distribution and more than 145 million IHG One Rewards members, the statement said.
Brands target growth
Vignette Collection, launched in 2021 and targeting 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. After opening its first Americas location in Washington, D.C., in 2023, the brand expanded with an opening in San Francisco.
Similarly, voco hotels, catering to the premium segment, aims to reach 200 open or pipeline properties globally by 2028, supported by late 2024 openings in Atlanta, Tucson, Arizona, and Laguna Hills, California, the statement said.
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. Recent openings include the 11th Americas Garner hotel in Panama City Beach, Florida.
IHG posted a 3.3 percent rise in global RevPAR for the first quarter of 2025, driven by 3.5 percent growth in the Americas, and recently opened the 110-key Crowne Plaza Lucknow, its 50th hotel in India.
Four Seasons, Fort Partners and Merrimac Ventures plan a mixed-use project in Telluride, CO.
The project is in Mountain Village near the San Juan Mountains.
Florida-based Fort Partners and Merrimac Ventures are led by Nadim Ashi and Dev Motwani.
FOUR SEASONS, FORT Partners and Merrimac Ventures are jointly developing the Four Seasons Resort and Residences Telluride in Telluride, Colorado. The project includes 52 guestrooms, 43 hotel residences and 26 private residences for short-term and permanent stays.
The properties are being developed in Mountain Village near the San Juan Mountains in Colorado, Four Seasons said in a statement.
Toronto-based Four Seasons is led by CEO Alejandro Reynal, while Florida-based partners Fort Partners and Merrimac Ventures are led by founder Nadim Ashi and President and CEO Dev Motwani, respectively.
“This achievement would not have been possible without the support of local partners like Telluride Ski & Golf, the Town of Mountain Village and TMVOA,” Motwani said. “We are fortunate to inherit this site and build upon the work they’ve already done.”
Bart Carnahan, Four Seasons’ president of global business development, portfolio management and residential, said the company is offering a new opportunity for guests and residents to enjoy a ski destination.
“Fort Partners and Merrimac Ventures are ideal collaborators, with a deep understanding of the destination, Four Seasons’ legendary service and a shared commitment to creating experiences for both short-term visitors and residents,” he said.
“Telluride is a place of extraordinary heritage and beauty and represents a rare opportunity to create something lasting,” Ashi said. “Together with Four Seasons and Merrimac, we are creating a landmark that reflects this legacy, honors its natural beauty and endures for generations.”
Sonesta International Hotels Corp. recently launched Americas Best Value Studios by Sonesta, an extended-stay version of its franchised brand, Americas Best Value Inn.
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