The CitizenM hotel in Rome, Italy has been sold to new owners, in a transaction reported at around EUR80 million.
The deal is a further step in the establishment of the CitizenM name as a globally significant hotel brand. And it has given the early backers of CitizenM a solid return for their commitment to support what was, in its earlier days, a development plan with its share of risk.
A First Italian Hotel For The Brand
The CitizenM Rome Isola Tiberina opened in late 2023 as the brand’s first property in Italy, and has 162 rooms. Its development had been backed by the original company that created the brand, Another Star, with investment partners GIC, the Singaporean sovereign wealth fund, and APG, the major Dutch pension fund.
New owners of the hotel are Petra Asset Management, which is working to a mandate from ADIA, the Abu Dhabi Investment Authority. Petra was set up by Dominique Ozanne, Gael Le Lay and Elsa Tobelem, bringing their experience gained at French investment group and hotel operator Covivio.
It was in mid 2025 that the CitizenM hotel brand was sold to global hotel giant Marriott. The USD355 million acquisition gave Marriott the brand name, while the brand’s hotel assets remained with the founding company, which was renamed Another Star. The deal included 37 opened hotels, across Europe, the USA and Asia Pacific, along with two more pipeline projects.
Since the Marriott deal, the brand has opened a new hotel, CitizenM Washington DC Georgetown, its third property in the US city. The opening is evidence that the brand can work across multiple sites, in key global gateway cities.
The sale of the Rome hotel provides Another Star with financial headroom to consider further opportunities for growing the brand. To date, the company has not only led in investing in its own hotel developments, but has also directly managed each CitizenM hotel property from opening.
The current CitizenM pipeline includes an upcoming new hotel in London Olympia. It will have 146 rooms and is due to open in autumn 2026, alongside the reimagined Olympia events and conference centre in the west of the UK capital. A further London hotel is in planning, which will see the former Saville Theatre converted to a 220 room CitizenM hotel. The property is listed, making conversion a challenge, but the aim is to open this hotel in 2028.
Poised For Further Growth
Also in the pipeline is a hotel in Denver, Colorado. The CitizenM 1637 Blake Hotel will have 278 rooms, in an eight storey development that is pencilled in for an early 2030 opening.
In late 2025, with the Marriott deal completed, Another Star agreed a refinancing deal for its portfolio of hotel assets. JP Morgan led the USD685 million transaction, joined by KSL Capital. At the conclusion of the refinancing, Another Star’s CEO, Lennert de Jong, commented: “With the momentum created by Marriott’s acquisition of the citizenM brand, we are ready to begin a new chapter and continue offering an incredible product at an accessible price point.”
