Marriott Is Acquiring citizenM For $355M, Betting On Big, Spacious Lobbies and Smaller, More Affordable Rooms

MarriottMAR

already owns 30 hotel brands, so what’s one more? This week, the travel giant picked up the “affordable luxury” lifestyle hotel chain citizenM in a $355M deal. With it, Marriott gains over 8.5K rooms across 36 hotels on three continents.

• Last year, FT reported that citizenM was seeking a new investor or buyer around a €4B valuation, including debt, as it looked to accelerate growth in key markets.
• Marriott’s acquisition will net it another popular brand among affluent business and leisure travelers, joining Select brands like AC Hotels, Aloft, and its own microtel offering, Moxy.

statusM: citizenM has been able to stand out because of its affordable hotel rates, as well as its paid mycitizenM+ membership, which gives frequent travelers 15% off stays by paying upfront. It’s unknown how this unique program will fare after the acquisition, with citizenM likely to be folded under Marriott’s expansive rewards program.

What’s not to love about affordable luxury?