Netherlands-based premium economy hotel chain citizenM is slated to open a new 228-key location in DC’s Georgetown, according to Donohoe. The plans indicate that the new seven-story hotel at 3401 Water Street NW (aka 3401 K Street NW) will incorporate an existing two-story building as the base and will total 80,146sf. This will be the third citizenM hotel in Washington. The “M” stands for “mobile.”

citizenM opened its first hotel in Amsterdam in 2008 and plans to operate 40 hotels and 8,545 rooms by 2025, according to its website, which lists its development specifications as: Opportunities of 3,500–10,000 square meters (40,000–110,000sf); 100–350 keys; and prime metropolitan locations, central business districts (CBDs) and terminal-linked airport sites (>35 million passengers per year). “citizenM is the first and only hotel built entirely from prefabricated rooms,” according to the company.

The Financial Times reports that the owners of citizenM including its largest shareholder Dutch pension provider APG, Singaporean wealth fund GIC and founder Rattan Chadha are exploring a potential sale, or the sale of a minority stake, as the company seeks to expand following the post-pandemic rebound in the travel sector. Morgan Stanley and Eastdil Secured are advising the owners, according to the report, which cites a person “familiar with the matter” as estimating that the company could be worth roughly €4bn in a deal.

Last Updated on May 14, 2024 by Ramin Seddiq