Marriott introduced Monday that it plans to bolster its life-style resort lineup by buying the CitizenM model for $355 million. Recognized for its stylish, tech-forward properties with compact rooms, Dutch resort model CitizenM has 36 lodges in over 20 main cities, together with New York, Paris, London and Rome.
“As we proceed to drive best-in-class experiences for vacationers, right this moment’s announcement builds upon Marriott’s dedication to reinforce choices for visitors and Marriott Bonvoy members,” President and CEO of Marriott Worldwide Anthony Capuano mentioned in a press launch. “We’re thrilled so as to add citizenM as a novel, differentiated providing to our select-service model portfolio as we proceed to strengthen Marriott’s foothold on this invaluable market phase all over the world,” he added.
Underneath the settlement, which is pending regulatory approval, citizenM-owned and leased lodges will probably be topic to new long-term franchise agreements with Marriott.
“We’re very enthusiastic about our settlement with Marriott and sit up for this pivotal subsequent step for our future progress. I envisage this relationship will vastly improve citizenM’s international attain and model influence. Marriott as a corporation shares our values and tradition, and I’m assured of their deep dedication in persevering with our model’s DNA into the long run,” Founder and Chairman of citizenM Rattan Chadha mentioned.
Along with being colourful, compact and quirky, the citizenM model caters to budget-conscious vacationers who worth “sensible in-room design, indoor and out of doors widespread areas that includes immersive paintings and native artifacts, comfortably appointed dwelling rooms that function collaborative workspaces, artistic assembly rooms, grab-and-go meals and beverage choices, and vigorous rooftop decks,” based on the model.
citizenM has a membership program, which is as unconventional because the playful design of its properties. Dubbed mycitizenM+, members pay a flat month-to-month charge for entry to perks like late checkout, discounted charges, foods and drinks reductions, and early entry to gross sales.
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TPG reached out to Marriott for touch upon the way forward for citizenM’s present membership program and the way the model plans to include into Marriott Bonvoy program — and what this may imply for standing and perks.
Three further citizenM properties are already below building and set to open in 2026. This may deliver the overall variety of visitor rooms below the model’s umbrella to greater than 9,000, giving Marriott loyalists in the hunt for inexpensive lodges in main metropolitan areas extra choices than ever earlier than.
