Key Takeaways
- Marriott International will pay $355 million for Netherlands-based hotel chain citizenM, which is expected to help lift Marriott’s 2025 net rooms growth.
- Adding citizenM gives Marriott a chain with 36 open hotels in more than 20 cities around the world.
- The company said if the transaction closes this year, it sees 2025 net room growth approaching 5%, as compared to its previous outlook of 4% to 5%.
Marriott International (MAR) shares advanced Monday as the hotel operator raised its 2025 net rooms growth outlook after purchasing Netherlands-based hotel chain citizenM for $355 million.
The company said the acquisition “is expected to accelerate Marriott’s global expansion of its select-service and lifestyle lodging…