07:41 AM EDT, 04/28/2025 (MT Newswires) -- Marriott International ( MAR ) said Monday it has agreed to acquire lifestyle brand citizenM and its related intellectual property for $355 million.

The citizenM global portfolio consists of 36 open hotels, comprising 8,544 rooms across over 20 cities, Marriott ( MAR ) said, adding that the brand's pipeline includes three hotels under construction, totaling over 600 rooms.

Stablized fees for the portfolio, including the hotels under construction, are expected to be around $30 million per year, Marriott ( MAR ) said.

The seller may also receive earn-out payments of up to $110 million based on the future growth of the brand over a specified, multiyear timeframe, Marriott ( MAR ) said, adding that the payments would not begin until the fourth year following closing.