• by Danielle Oster , Yesterday

Image above: A CitizenM property in Seattle.

Marriott International has reached an agreement to acquire Netherlands-based lifestyle hospitality brand CitizenM -- subject to customary closing conditions, including regulatory approval.

With its acquisition of the select-service (between limited and full service) hospitality brand, Marriott expands its global select-service and lifestyle lodging portfolio.

The brand was previously owned by Dutch pension investment company APG and Singaporean sovereign wealth fund GIC Private Limited, which valued the company at around $2.3 billion when it acquired a 25% stake in the brand back in 2019, according to reporting by the Financial Times.

 "CitizenM was created for frequent travelers, and Marriott's distribution capabilities will allow us to welcome new modern guests. With the strength of Marriott's development engine, we look forward to the prospect of many additional citizenM properties in new destinations around the world,” said CitizenM CEO Lennert de Jong in a release. “We will continue to own our real estate and operate all our hotels. This relationship will allow us to work together to maximize returns.”

Founded in 2008, CitizenM’s global portfolio consists of 36 open hotels totaling 8,544 rooms, located in more than 20 cities across the U.S., Europe, and Asia Pacific -- including London, New York, Paris and Rome. The brand’s current pipeline also includes three hotels currently under construction anticipated to open by mid-2026.

Marriott will pay $355 million at closing to acquire the CitizenM brand and related intellectual property, with hotels owned and leased by the seller now subject to “long-term franchise agreements” with Marriott International, according to a release.

The citizenM brand is known for its “tech-savvy in-hotel experience, highly efficient use of space, and focus on art and design,” along with “genuine service” catering to value-conscious consumers, according to a release.

In a statement, Marriott International President and CEO Anthony Capuano said that the brand would add a “unique, differentiated offering to our select-service brand portfolio as we continue to strengthen Marriott's foothold in this valuable market segment around the world.”

The acquisition arrives as Marriott has been investing in marketing promoting its Marriott Bonvoy rewards program—going “Points for Points” with a March Madness campaign, and becoming the official hotel partner of Beyoncé's Cowboy Carter Tour.