BETHESDA (dpa-AFX) - Marriott International Inc. (MAR) Monday said it has agreed to acquire the lifestyle brand citizenM.
At closing, Marriott will pay $355 million for the brand and related intellectual property.
The citizenM global portfolio comprises 36 open hotels, with 8,544 rooms, across U.S., Europe, and Asia Pacific. Its pipeline includes three under-construction hotels with more than 600 rooms that are expected to open by mid-2026.
'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,' said Anthony Capuano, President and CEO of Marriott International.
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