Petra acquires CitizenM Rome in one of the most notable hotel investment transactions recently completed in the Italian capital. The asset management company purchased the 162-room property on behalf of the Abu Dhabi Investment Authority (ADIA). Located along Lungotevere de’ Cenci, the hotel sits close to some of Rome’s most visited landmarks, including the Pantheon and the Colosseum. Moreover, the transaction highlights the continued appeal of prime hospitality assets in major European destinations. Market sources indicate that the deal closed for approximately €70 million, plus a variable component. Initially, the property entered the market with an asking price of around €80 million. Consequently, the acquisition reflects both investor confidence and strong demand for well-positioned lifestyle hotels in key urban markets.
The hotel opened in 2023 and quickly established itself within Rome’s competitive hospitality landscape. In addition, the property benefits from the growing international recognition of the CitizenM brand. Petra, founded by former Covivio Hotels executive Dominique Ozanne together with Gael Le Lay and Elsa Tobelem, currently manages a portfolio worth more than €1 billion. Therefore, the acquisition further strengthens the company’s presence in the European hotel investment sector. The transaction also involved Eastdil Secured as advisor. Meanwhile, Savills continues the integration process following its acquisition agreement with Eastdil earlier this year.
Beyond the individual asset, Petra acquires CitizenM Rome during a period of significant change for the brand itself. Marriott International acquired CitizenM in April 2025 for $355 million, with additional payments linked to future performance targets. Furthermore, the company behind the brand adopted the new name Another Star and secured substantial financing from JP Morgan Bank and KSL Capital Partners. Today, Another Star operates and partly owns 37 hotels across 20 global destinations. As a result, the Rome property forms part of a rapidly expanding international platform that continues to attract institutional investors and support long-term growth in the hospitality sector.
