Dutch boutique hotel chain citizenM weigh sale plans

International news
Netherlands-based boutique hotel chain citizenM is considering strategic options, including a divestment, reported Financial Times, citing sources.

Morgan Stanley and real estate investment bank Eastdil Secured are advising the company’s owners, including Dutch pension provider APG, Singaporean wealth fund GIC, and founder Rattan Chadha.

The discussions about citizenM’s future are said to be in the preliminary stages, with the possibility of selling a minority stake also on the table.

However, sources privy to the development indicated that no definitive decisions have been made.

The aim is to attract institutional investors to support the company’s continued growth efforts and potentially enable current investors to realise their shareholdings.

The potential sale comes as the company has more than doubled its portfolio since GIC acquired a 25% stake five years ago, valuing citizenM at €2bn including debt.