citizenM New York Bowery Hotel — Photo by citizenM Hotels

The award-winning Dutch hotel and lifestyle brand citizenM has entered into an exciting collaboration with German project developer GBI. citizenM is looking for prime locations for their entry into the German hotel market. True to its philosophy 'affordable luxury for the people', citizenM is offering guests all the luxuries they would expect from a high-end hotel in a prime location, yet without sky-high prices. Since June, citizenM is also offering contactless stays powered by its new app.

The focus for citizenM's expansion in Germany will be on four cities: Munich, Hamburg, Frankfurt and Berlin, where citizenM plans to open several hotels in each city. GBI and citizenM will search for suitable properties and plots of land for the brand to acquire, and then develop turnkey citizenM hotels together.

With its owner-operator model - delivering a high profitability per square meter - lean operational cost structure, and a robust tech-forward approach, citizenM has been expanding its global portfolio smoothly and continuously across Europe, North America and Asia in prime locations. In March 2019, citizenM welcomed its third investor, GIC, Singapore's sovereign wealth fund, raising the value of the company to €2 billion. GIC joins citizenM's two other investors, KRC Capital (the private investment vehicle) and APG (the Dutch Pension Fund). Together, they have committed to invest €750 million of new equity for future hotel developments.

"It had been clear for some time that Germany, as Europe's strongest economic country and a sought-after travel destination, would be one of our next targets," says Klaas van Lookeren Campagne, CEO at citizenM, "but we needed the right partner and consultant for our expansion. We are delighted to have found this with GBI."

citizenM expansion: an ideal match for GBI's development portfolio

In the spring of 2020, the GBI Group of Companies was named Germany's largest project developer of hotels by bulwiengesa,a major independent real-estate consulting company in continental Europe. GBI's hotel developments cover 140,000 square meters of usable space altogether. GBI has held its top bulwiengesa ranking for four years in a row.

"For GBI, the new mandate is a perfect addition to its development activities," emphasises Reiner Nittka, CEO of GBI Holding AG. "In terms of brand positioning and location requirements, this is an ideal fit. Now we can supplement further locations with exactly the right brand." The building specifications and requirements for the high-quality furnishings have already been tailored to the German environment. Now a final check can be carried out directly in the name and on behalf of citizenM to determine whether hotels can be developed at the chosen locations in accordance with the standards of the brand.

About the GBI Group of Companies

GBI AG and its sister company GBI Wohnungsbau GmbH develop hotel, apartment and residential projects. On its own or with partners, the company has been able to sell or place real estate in Germany and Austria with a volume of around €1.9 billion since its foundation in 2001. In addition, GBI AG acts as a fund or asset manager for funds of institutional investors in various property classes. This includes above all the selection of operators and locations as well as Due Diligence services with all purchase and sales processes. The hotel project developments of GBI AG comprise approximately 14,600 rooms - making GBI the largest hotel developer in Germany. The company is active for all relevant national and international brands from budget to upscale segments. The long-stay segment has grown particularly strongly. Under the brand umbrella SMARTments®, the commitment to developing and operating micro-apartments for students, business travellers and private individuals has been stepped up since 2010. In the commercial sector of SMARTments® business, the project list includes 1,169 apartments. The parent company of GBI AG is GBI Holding AG, a 100% subsidiary of the Moses Mendelssohn Foundation. Website: http://www.gbi.ag

About citizenM

citizenM was launched in 2008 with a purpose – to disrupt the traditional, stale hotel industry. Rattan Chadha – the founder of the global fashion brand Mexx – was inspired by his employees to create a hotel for today's frequent travelers, giving them everything they need and nothing they don't. This means central locations in the world's most exciting cities, but at an affordable price. Not just a place to sleep, but somewhere to work, relax and play – just like home. Somewhere with superfast free Wi-Fi, tech that makes life easy, and world-class art that isn't "hotel art'. A room with an ultra-comfortable XL bed to crash in, and a powerful rain shower to wake-up in. Rattan Chadha called this "affordable luxury for the people'. The first citizenM opened at Amsterdam's Schiphol Airport in 2008. As of November 2024, citizenM's portfolio has 36 hotels in 21 exciting cities: London, Glasgow, Amsterdam, Rotterdam, Paris, Copenhagen, Rome, Zurich, Geneva, New York, Los Angeles, Miami, Austin, Boston, Seattle, San Francisco, Washington DC, Chicago, Menlo Park, Taipei and Kuala Lumpur.

www.citizenM.com | @citizenM

Paola Tarazona
Senior Communications Manager
citizenM Hotels