citizenM has appointed Rani Gharbie as managing director, investment & development for the Americas.
Backed by strategic investors GIC and APG Investments, the owner-operator hotel and lifestyle brand currently has 31 properties worldwide in key urban core locations in metropolitan cities, including 20 locations across the U.S.
Gharbie will spearhead citizenM’s initiative to actively grow its Americas portfolio. Leveraging his extensive transaction experience and industry relationships, he will pursue a balanced strategy of sourcing exceptional investment opportunities for the group, and putting together strategic partnerships to jointly invest with citizenM in future deals to grow the hotel portfolio in key urban destinations. Important locations for this next phase of citizenM’s expansion include new markets in the South, Southeast and West Coast, as well as Toronto, Vancouver and other major cities in Canada. Additionally, the company is actively exploring opportunities to acquire or develop additional properties in cities where it already has a presence, including New York City; Washington, DC; Miami; Los Angeles; Seattle; Chicago; and Austin.
“Rani is incredibly well-suited to lead our expansion efforts with over two decades of distinguished experience in real estate investment and development,” said Klaas van Lookeren Campagne, CEO, citizenM. “His proven track record of securing and executing complex deals throughout North America and beyond will allow citizen to capitalize on the abundant opportunities ahead.”
Gharbie added, “I look forward to leveraging my hotel real estate network and deal-sourcing expertise to deliver exceptional returns through new citizenM projects. The maturing loan environment should also present prime opportunities for strategic acquisitions and partnerships. My goal is for my team to profitably scale our portfolio across key target markets.”
Prior to joining citizenM, Gharbie founded New York-based real estate investment firm Cedar Funds and held senior roles with major hotel groups globally such as Virgin Hotels, IHG, Hyatt and BD/Pod Hotels.