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Marriott International has announced the acquisition of the lifestyle brand citizenM for $355 million, a move that adds 36 hotels to the Marriott Bonvoy portfolio worldwide.
“We are excited to welcome citizenM to our select-service brand portfolio,” said Anthony Capuano, President and CEO of Marriott International, in a statement. “This acquisition enhances our ability to offer even more options for travelers and Marriott Bonvoy members, and it strengthens our position in a valuable market segment.”
Capuano highlighted Marriott’s proven success in growing acquired brands, noting the company’s global development network, industry-leading affiliation cost structure, and the power of its Marriott Bonvoy loyalty platform.
