Ruby expands internationally
- Munich
- 14 March 2018
RUBY SIGNS FIRST LONDON HOTEL AS EUROPEAN EXPANSION GATHERS PACE
The European expansion of RUBY is gathering pace. The Munich-based boutique hotel group, which was founded by Michael Struck in 2013, announced three more projects, one of them in London, bringing the group count to thirteen hotels (four open, nine in planning or under construction).
With its LEAN LUXURY philosophy, RUBY appears to have evolved into one of the fastest-growing non-standardized hotel brands in Europe.
Central location in the heart of London
RUBY will open its first hotel outside of the German-speaking regions of Europe in summer 2019 in central London. The hotel, named RUBY LUCY, will be located in the fashionable Southbank quarter at Lower Marsh, a historic market street with many small bars, restaurants and boutiques. The hotel, with 76 rooms, is located very close to Waterloo mainline train and underground station, providing excellent connections with London’s public transportation network. Westminster, Buckingham Palace and Trafalgar Square are easily reached on foot, just a few minutes away, along with Soho and Covent Garden.
RUBY agreed a partnership on the property with a family-owned real estate company with a long-standing tradition. Real estate agent MS CRE advised Ruby. The new building south of the Thames, which also houses restaurants and shops, is designed by renowned architects Studio Kyson.
Another new RUBY HOTEL is opening in Zurich
RUBY announced another new hotel project, with around 210 rooms, which will open by the beginning of 2021 in Zurich. Located at Waisenhausstraße 2-4 / Bahnhofquai 7, the new hotel is only 200 m away from Zurich central station and has excellent connections with the local and long-distance transportation network. The Beatenplatz, situated in front of the hotel, offers space for terrace areas. The charming historic building, a former cinema, known as the ‘ABC Kino‘ is currently being refurbished by PSP Swiss Property, one of Switzerland’s leading real estate companies.
The third hotel project signed on by RUBY will open in 2020 in a yet undisclosed, French-speaking destination.
A Lean Form of Luxury
Just like the group’s other houses, the three new hotels follow RUBY‘s LEAN LUXURY philosophy: top location, high-quality fittings, and outstanding design. All of this is offered at an affordable price by rigorously cutting out the superfluous and focusing on the essential. “This works because we accommodate luxury in a relatively condensed space, similar to luxury yachts, and we forego unnecessary services. Thanks to proprietary technical innovations, we plan, build and organize ourselves differently from conventional hotels. To be precise, we plan and build in a very modular way and centralize as well as automatize processes behind the scenes wherever possible. This helps us create a luxurious and unique hotel experience at an affordable price” explains Michael Struck, RUBY founder and CEO. Every hotel is designed and developed individually, referencing local themes and stories.
Successful even in highly demanding real-estate markets
Explaining how RUBY was able to secure the new projects even in such highly competitive real estate markets like central London and Zurich, Michael Struck notes: “The margin advantages that RUBY achieves through constructional and processual innovations allow us to sustainably pay strong leases, outperforming office use scenarios. Also, we are highly flexible and efficient with regards to converting existing office spaces, making hotel conversions economically viable where they would not have been, before. And, in spite of RUBYs young age, our leases have successfully traded at premium rates on the investment market, as many of the large institutional investors in Germany have taken note of our track record and our covenant.”
