Affordable luxury hotel group Citizen M has confirmed plans to expand into Italy, with properties in both Rome and Milan.
The firm is partnering with independent Asset Management Company Antirion, which has purchased “a detached building of architectural and cultural interest of about 7,000sqm in the centre of Rome”.
The property is currently being used as office space, but will undergo a renovation project to convert it into a 160-room Citizen M hotel.
In a tweet the hotel group said that the Rome property would be followed by a second hotel in Milan.
Italy, here we come! We’re proud to announce our latest partnership with Antirion, which will enable citizenM to move into the Italian market; opening in Rome first, followed by Milan.https://t.co/2QZhu1HtAI
— citizenM hotels (@citizenM) May 7, 2020
The group also linked to an article by realassets.ipe.com, which quotes Citizen M’s CEO Klaas van Lookeren Campagne as saying:
“Italy is a natural fit for the next phase of our global expansion.
”We are therefore very excited to launch this joint venture with Antirion as this gives us immediate access to this competitive market and the execution power to source and develop several high-quality properties in Italy, together with Antirion’s experienced and like-minded team.”
Citizen M currently has 18 properties in its portfolio across Europe, North America and Asia, including three hotels in both London and Paris.
The French and English capital cities are set to welcome additional Citizen M hotels, with a 151-room property on rue de la Boétie close to the Champs-Élysées, and a 226-room hotel close to London Victoria station.
For our recent Tried and Tested review of the Citizen M Boston (pictured above), see: