Petra Acquires 162-Room citizenM Hotel in Rome, Strengthening Southern Europe Platform Strategy Amidst Expanding Liquidity
📈 On June 4, Petra acquired a 162-room citizenM hotel in Rome, aiming to create an Italian portfolio. The hotel, under the Marriott-backed citizenM brand, reopened in early 2024. Petra, founded in 2023, focuses on Southern Europe, where hotel margins exceed Northern Europe by 5 to 20 points. Liquidity is shifting south, with strong capital flow in Spain and emerging growth in Italy. The French market lags due to regulatory challenges, while Southern Europe offers better visibility and diversity.
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