What Marriott CFO, industry experts think of CitizenM deal

What Marriott CFO, industry experts think of CitizenM deal

Marriott will need to work hard to ensure CitizenM doesn’t cannibalize its other lifestyle brand, Moxy. CFO Leeny Oberg says that won’t be a problem.

Marriott to acquire citizenM brand

U.S. hotel chain Marriott completes purchase of CitizenM

American hotel chain Marriott has completed their purchase of the Dutch brand CitizenM. The existing 36 hotels and three properties under construction will remain in the hands of citizenM. New hotels will be owned by Marriott, who paid at least for 355 million dollars (312 million euros) in the deal. This fee can rise by another 110 million dollars.

Marriott to Acquire CitizenM Hotel Brand for $355M

BETHESDA, MD. — Marriott International has reached an agreement to acquire the brand and related intellectual property of citizenM, a hospitality brand based in the Netherlands. The deal is valued at $355 million. The citizenM brand comprises 36 open hotels spanning 8,544 rooms, with properties located in cities such as Paris, Rome, London, New York City and Miami. There are three more citizenM-branded hotels in the development pipeline totaling…

Marriott to acquire citizenM in $355 million deal

The world’s largest hotel operator will be buying citizenM’s 36 hotels, thereby expanding its select-service segment. If the deal goes through and closes in 2025, Marriott expects full year 2025 net rooms growth to approach 5%. Founded in 2008, citizenM has been known since its beginnings as a budget-conscious yet aesthetically pleasing and tech-savvy hotel option. Most of the chain’s rooms are on the smaller side, measuring around 14 square met…

Marriott International to Buy citizenM Hotel Brand for $355m

Marriott International has reached agreement to buy “lifestyle” hotel brand citizenM for $355m. The citizenM global portfolio currently consists of 36 open hotels, comprising 8,544 rooms, across more than 20 cities spanning the US, Europe, and Asia Pacific, including gateway cities like New York, London, Paris, and Rome. The brand’s current pipeline includes three under-construction hotels totalling over 600 rooms that are anticipated to open by…