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.

CitizenM opened its first hotel in 2008. The brand currently has 36 hotels worldwide, including locations in Amsterdam and Rotterdam. They rest of the company’s hotels are located throughout Europe, the U.S. ,and Asia. There are currently another three hotels under construction. These are set to open in 2026.

The company’s founder and chairman Rattan Chadha is predicting that the cooperation with Marriott will “considerable improve the global presence and brand impact of CitizenM.”

Marriott, which already owns more than 30 brands, has agreed to a “long-term franchise agreement” for the existing CitizenM hotels. This means that the Dutch brand will remain the owner of its real estate and will continue to manage the hotels.

Marriott’s CEO, Anthony Capuano, said that CitizenM is 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.”