Marriott International has agreed to acquire the select-service lifestyle hotel brand CitizenM for $355 million.
Founded in 2008, CitizenM has a portfolio of 36 hotels, with locations in major cities like New York, London, Miami, Paris and Rome.
The Netherlands-based brand targets value-conscious travelers, touting compact accommodations, tech-forward amenities and a design-focused ethos.
The brand is also known for its so-called "living room" public areas, which offer collaborative workspaces, meeting rooms, grab-and-go food and beverage options, and rooftop decks.
Marriott CEO Anthony Capuano called CitizenM a "unique, differentiated offering to our select-service brand portfolio."
Under the terms of the agreement, CitizenM hotels will become part of the Marriott network and enter into long-term franchise agreements with Marriott. The transaction includes three hotels under development that are expected to open by mid-2026.
CitizenM will continue to own its real estate and operate all its hotels.
Marriott expects the deal to close by later this year.
Marriott said CitizenM's ownership group -- which includes Dutch pension asset manager APG, KRC Capital and Singapore's sovereign wealth fund GIC -- may receive earnout payments of up to $110 million based on brand growth, which would begin the fourth year after the deal closes.
CitizenM will join AC Hotels, Aloft, Moxy, Courtyard, Four Points by Sheraton, Springhill Suites, Fairfield and Protea in Marriott's select-service category.