The pension funds which own the CitizenM hotel chain are exploring a potential sale of the business, the Financial Times reported on Wednesday.
The owners – which include Dutch pension provider APG, Singaporean wealth fund GIC and founder Rattan Chadha - are working with bankers to explore options for the business, including a potential sale, the newspaper said.
Reports suggest the company is currently valued at roughly €4 billion, five years after GIC took a 25 per cent stake in the business which at the time valued it at €2 billion including debt.
CitizenM is now present in more than 40 locations across the world, up from 15 when GIC took on its stake.
Back in 2021, CitizenM raised $1 billion from its existing shareholders to help drive its global expansion plans.