CitizenM Rome, Gic and Apg ready to sell the hotel to Abu Dhabi fund

A new transaction is underway on the hotel real estate front in Rome. According to rumours, Gic (Singapore's sovereign wealth fund) together with Apg and the brand's founder are in negotiations to sell the CitizenM Rome Isola Tiberina, for an amount that would be around 80 million euro. To acquire the asset would be Petra Asset Management, backed by Adia (Abu Dhabi Investment Authority, i.e. the Emirate's sovereign wealth fund).
Reporting the indiscretion is Green Street News.

Petra - one billion in asset management - founded by former Covivio hotel manager Dominique Ozanne together with Gael Le Lay and Elsa Tobelem, is moving into the market to buy hotels on behalf of the Abu Dhabi sovereign wealth fund. Director of the entire operation would be Eastdil Secured. The property, which comprises 162 rooms, is located in Lungotevere de' Cenci, a short distance from the Pantheon, the Roman Forum and the Colosseum, a perfect area therefore to attract a tourist clientele.

The CitizenM brand had been sold by founder Rattan Chadha, Gic and Apg last winter to Marriott International for a consideration of EUR 400 million, which changed the name of the founding company to Another Star. With this new identity, the company continues to own and operate all CitizenM hotels in major cities in Europe and the US through long-term franchise agreements with Marriott International. All CitizenM hotels have been integrated into Marriott Bonvoy, the hospitality giant's travel platform.

Furthermore, last November, Another Star obtained a USD 685 million (equivalent to EUR 637 million) refinancing for the hotel portfolio, led by Jp Morgan Bank in partnership with Ksl Capital Partners. In short, the rebranding of CitizenM into Another Star is not just an aesthetic operation, but a structural redesign.

The transaction confirms the liveliness of the Roman market, which is not yet mature according to investors and therefore a field of opportunity. According to Dils, in the fourth quarter of 2025 alone, Italian investments in the hôtellerie reached approximately 450 million euro, bringing the annual total to almost 2.4 billion euro, the best performance in the last six years with a growth of 30% compared to 2024. Interest was particularly focused on iconic structures and assets with repositioning potential in the Luxury segment, as evidenced by the five transactions with a value of more than EUR 100 million. Capital was directed mainly towards major cities, with Rome in the spotlight thanks to more than EUR 650 million invested. Recently, hotels such as Nobu and the Grand Hotel Minerva have opened in the capital, while future openings of Mandarin Oriental and Rosewood are awaited. The question remains as to whether all these openings will be able to guarantee full, or at least high, occupancy, given the ever-rising room prices.