Netherlands-based boutique hotel chain citizenM is considering strategic options, including a divestment, reported Financial Times, citing sources.  

Morgan Stanley and real estate investment bank Eastdil Secured are advising the company’s owners, including Dutch pension provider APG, Singaporean wealth fund GIC, and founder Rattan Chadha. 

The discussions about citizenM’s future are said to be in the preliminary stages, with the possibility of selling a minority stake also on the table.  

However, sources privy to the development indicated that no definitive decisions have been made.  

The aim is to attract institutional investors to support the company’s continued growth efforts and potentially enable current investors to realise their shareholdings. 

The potential sale comes as the company has more than doubled its portfolio since GIC acquired a 25% stake five years ago, valuing citizenM at €2bn including debt. 

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Founded in 2008 by Rattan Chadha, citizenM has expanded from its initial portfolio of 15 hotels.  

The chain extended to more than 40 properties and 10,000 rooms across North America, Europe and Asia last year. 

The company is also developing new hotels in cities such as Boston, Miami, and Dublin. 

Representatives from citizenM, Eastdil, APG, GIC, and Morgan Stanley have declined to comment on the matter, and so have KRC Capital, Rattan Chadha’s investment group. 

Last month, Apaleo transitioned all 7,500 rooms of citizenM’s operations in the US and Europe to its property management system. 

citizenM completed the migration across its properties in 18 cities across the globe.