Marriott International to acquire citizenM for $355m.

Marriott International, an American multinational diversified hospitality company, agreed to acquire citizenM, a Netherlands-based, global hotel developer, investor, and hotel chain, for $355m. "We are thrilled to add citizenM as a unique, differentiated offering to our select-service brand portfolio as we continue to strengthen Marriott's foothold in this valuable market segment around the world. Marriott has a proven track record of growing acquired brands significantly by leveraging our global development ecosystem, the benefits of our industry-leading affiliation cost structure, and the power of our award-winning Marriott Bonvoy loyalty platform," Anthony Capuano, Marriott International President and CEO.