Marriott International is set to acquire Netherlands-based independent hotel chain CitizenM in a $355 million deal.
CitizenM, which opened its first hotel in 2008, currently has 36 “technology-driven” hotels in operation across Europe, the US and Asia, with another three properties currently under construction and due to open by the middle of 2026.
Anthony Capuano, president and CEO of Marriott International, said: “We are thrilled to add CitizenM as 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.”
CitizenM has properties in Amsterdam, Copenhagen, Dublin, Geneva, Glasgow, London, Paris, Rome, Rotterdam and Zurich, as well as in major US cities such as New York, Boston, Chicago, Los Angeles, Miami, Seattle and Washington DC.
Rattan Chadha, founder and chairman of CitizenM, added: “We are very excited about our agreement with Marriott and look forward to this pivotal next step for our future growth.
“I envisage this relationship will greatly enhance CitizenM's global reach and brand impact. Marriott as an organisation shares our values and culture, and I am confident in their deep commitment in continuing our brand’s DNA into the future.”
Major hotel companies have been busy acquiring independent brands in recent months, including IHG’s purchase of Ruby Hotels earlier this year and Hyatt snapping up Standard International in 2024.
Once the acquisition of CitizenM is completed, the brand’s 8,544 rooms will be added to Marriott’s global inventory. CitizenM’s owners may also earn another $110 million from Marriott based on “the future growth of the brand over a specified, multi-year timeframe”.
“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 Lennert de Jong, CEO of CitizenM.
“We will continue to own our real estate and operate all our hotels. This relationship will allow us to work together to maximise returns.”
Marriott expects to complete the transaction during 2025 subject to “various customary conditions, including US regulatory approval”. The company added that the deal would help to increase its total net rooms by around 5 per cent this year.