Mergers & Acquisitions

💰 Marriott International to acquire citizenM for $355 million, adding 36 hotels (8,544 rooms) across 20+ cities including New York and London to its portfolio. Three new hotels (over 600 rooms) expected by mid-2026. Annual stabilized fees from the portfolio estimated at $30 million, with potential earn-out payments up to $110 million. Marriott anticipates full-year 2025 net rooms growth nearing 5% post-acquisition. citizenM, founded in the Netherlands in 2005, opened its first hotel in 2008. In 2019, GIC acquired a 25% stake for €2 billion. Marriott aims to leverage its global ecosystem and the Marriott Bonvoy platform to grow the brand.

🏠 Staypineapple Hotels Inc. announced the acquisition of University Inn by OneRE Apartment Fund LLC, affiliated with Onelin Capital Corporation, in Bellevue, Washington. The boutique hotel, built in 1962 with 102 guest rooms and an outdoor seasonal pool, was part of Pineapple Hospitality since 2008 and will continue to be managed by Staypineapple under a new agreement. Dina Belon and Wei Zhang expressed excitement for the partnership, focusing on personalized guest experiences and the property's legacy.

💰 Sabre Corporation is selling its Hospitality Solutions business to TPG for $1.1 billion in cash. TPG will invest through its TPG Capital private equity platform. The SaaS platform serves over 40% of the world's leading hotel brands. Sabre's net proceeds of approximately $960 million will primarily pay down debt. Following the December 2024 debt refinancing and April 2025 debt repayment, Sabre aims to optimize its portfolio and target a net leverage of 2.5x to 3.5x. The deal, expected to close by end of Q3 2025, is approved by Sabre's Board and does not require financing conditions.

🏨 LondonMetric acquired nine Premier Inn hotels for £89 million. The deal includes 955 bedrooms, delivering a net initial yield of 5.3% with 30-year leases, generating £5 million annual rent. Rent reviews occur every five years, linked to the consumer price index. The hotels are located in the South East, including Southampton Airport and Milton Keynes. Whitbread, as the seller, contributes £11.3 million annually, 2.7% of LondonMetric’s total rent. LondonMetric now owns 22 Premier Inns.

🏠 Emerson Hospitality is redeveloping Black Creek Barns, a 153-acre estate in Esopus, NY, into a 70-room resort, opening in late 2027. Located 90 miles north of NYC near Poughkeepsie, it features historic structures, a 7,000 sq ft event hall, and a 9,000 sq ft craft center. Supported by $38 million in financing from IPA, The LCP Group, and Imperial Ridge, the project emphasizes sustainability with C-PACE financing.

📈 Lemon Tree Hotels and Fleur Hotels plan a structural reorganization with Warburg Pincus investing in Fleur. Coastal Cedar Investment B.V. will acquire a 41.09% stake in Fleur. Warburg Pincus will invest up to INR 960 crore ($106 million USD). The scheme, starting April 1, 2026, involves transferring hotel assets to Fleur, expanding from 24 hotels with 3,993 keys to 41 hotels with 5,813 keys. Fleur's shares will be listed on NSE and BSE.

🏨 MIAMI, Florida—Kabani Hotel Group brokered the sale of voco St. Augustine – Historic Area by IHG, a 50-room hotel, for $9,000,000. The sale price equates to $180,000 per room with a 6.3% capitalization rate and a ~5.3× room revenue multiple. The transaction, led by Lucas Mondino, closed in 44 days. Built in 2019, the hotel caters to both historic tourism and beachgoers in St. Augustine's strong leisure market.

🏨 Two Seas Hotels acquired the 50-bedroom Celtic International Hotel on Port Road in Barry, near Cardiff City Airport, for an undisclosed amount. The hotel, which serves leisure and business guests, features a full-service offering with a recently refurbished bar and restaurant. The acquisition, managed by Sam Roberts from Christie and Co, reflects the group's expansion in the Welsh hospitality market. Mr. Zaman, director at Two Seas Hotels, noted the hotel’s future potential.