Marriott International completed its $355 million acquisition of CitizenM, adding 37 open hotels with over 8,700 rooms to its portfolio. Two more CitizenM hotels are in development. Marriott aims to integrate the brand’s innovative offerings into its select-service portfolio, alongside other lifestyle brands like AC Hotels and Moxy.

The acquisition was announced in April, with plans to fully integrate CitizenM into Marriott’s systems later this year. Details on how CitizenM’s subscription program will work post-integration are forthcoming. The Federal Trade Commission granted approval for the acquisition last month, allowing Marriott to move forward with the process.

In a statement, Marriott President and CEO Anthony Capuano highlighted the importance of blending technology and hospitality in response to travelers’ evolving preferences. The addition of CitizenM aligns with Marriott’s strategy to cater to the demand for unique lodging experiences. The company recently opened its largest AC Hotel in North America in Arlington, Virginia, following a significant renovation.

As competition in the lifestyle hotel space heats up, industry experts caution Marriott to avoid cannibalization as it integrates CitizenM alongside brands like Moxy. However, CFO Leeny Oberg reassured that Marriott has a track record of preserving the unique qualities of acquired brands while incorporating them into the larger system.

Read more at Yahoo Finance: Marriott completes CitizenM acquisition