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Dutch Hotel Company CitizenM Raises $1 Billion for Expansion

Interior of citizenM’s Washington, D.C. hotel. — Interior of citizenM’s Washington, D.C. hotel.Source: CitizenM

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November 9, 2021, 4:30 PM UTCUpdated onNovember 9, 2021, 5:55 PM UTC

CitizenM, a Dutch lodging company, has raised $1 billion in new capital from its existing investors to accelerate its expansion plans as the hotel industry begins to bounce back from the pandemic.

Singapore sovereign wealth fund GIC participated in the round along with Dutch pension fund manager APG Asset Management and citizenM founder Rattan Chadha’s KRC Capital.