Marriott rises on $355 million CitizenM acquisition

Shares of hotel operator Marriott International MAR.O, RIC rise 1.5% to ~$240

Co to acquire hotel chain CitizenM for $355 mln

CitizenM's global portfolio consists of over 8,500 rooms and 600 additional rooms expected to open by mid-2026

"The properties are concentrated in major gateway cities in the US and Europe, although two in Asia suggest further expansion potential" - Jefferies

Acquisition to boost unit growth numbers for Marriott, expand to its select-service and lifestyle lodging range

Assuming the close of transaction in 2025, Marriott now expects full-year 2025 net rooms growth to approach the high end of its previous forecast range of 4% to 5%