Germany: Dutch hotel and lifestyle brand citizenM has entered into a collaboration with German project developer GBI, assessing prime locations for the brand’s entry into the German hotel market.
GBI and citizenM will search for suitable properties and plots of land for the brand to acquire, and then develop the hotels together.
Munich, Hamburg, Frankfurt and Berlin are four locations where citizenM plan to open several hotels in each city.
Klaas van Lookeren Campagne, CEO at citizenM, said: “It had been clear for some time that Germany, as Europe’s strongest economic country and a sought-after travel destination, would be one of our next targets, but we needed the right partner and consultant for our expansion. We are delighted to have found this with GBI.”
Reiner Nittka, CEO of GBI Holding AG, added: “For GBI, the new mandate is a perfect addition to its development activities. In terms of brand positioning and location requirements, this is an ideal fit. Now we can supplement further locations with exactly the right brand.”
In March 2019, citizenM welcomed its third investor, GIC, Singapore’s sovereign wealth fund, raising the value of the company to €2 billion. Along with citizenM’s two other investors, KRC Capital and APG, they have committed to invest €750 million of new equity for future hotel developments.
Currently comprising 20 operational hotels in eight countries, citizenM has a confirmed pipeline of 25 properties, with expansion plans in North America as well as continued growth in Asia and Europe.
In June 2020, citizenM announced it will offer a fully contactless stay powered by its new app. BHN recently spoke to Matthew Bell, director of hotel operations for Europe at citizenM, about the growing role of technology within hospitality. Click here to watch the video.
