CitizenM explores potential sale

The owners of boutique hotel brand citizenM are reportedly exploring options for its portfolio, including a potential sale of the business

According to the Financial Times, citizenM is working with advisers Morgan Stanley and real estate investment bank Eastdil Secured to explore options for the brand, as it is looking for new growth capital.

Key takeaways

• Discussions are reportedly in the early stages, with citizenM potentially considering "the sale of a minority stake." The estimated worth of citizenM in such a transaction could be around $4 billion;
• citizenM secured $1 billion in funding in 2021 from Singaporean sovereign wealth fund GIC, Dutch pension fund APG Asset Management, and investment firm KKR Capital. APG holds the largest stake in citizenM, while GIC acquired a 25 percent share in the business in 2019, valuing it at $2.3 billion;
• At present, citizenM operates 34 hotels across the United States, Europe, and the Asia Pacific region. The group's inaugural establishment debuted at Schiphol Airport in the Netherlands in 2008, where the company is headquartered.

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