Netherlands-headquartered hotel company CitizenM on Tuesday appointed Hendrik Jan Roel as the company's incoming CFO. He will start May 1, replacing interim CFO Jurriaan Nienaber. Additionally, the company tapped its head of development and investments in North America Ernest Lee as CitizenM's first chief growth officer.
Roel has 22 years of financial experience and a degree from Stanford University's Graduate School of Business. He is the former CFO of European retail giant Koninklijke Ahold Delhaize N.V.
Prior to joining CitizenM six years ago, Lee had been senior director of hospitality for equity, debt and structured finance for Cushman & Wakefield Capital Markets. Lee is expected to work with chief commercial officer Lennert de Jong to implement growth initiatives, products and programs, pursuing strategic partnerships, and developing a long-term commercial strategy.
The first CitizenM opened at Amsterdam’s Schiphol Airport in 2008. In November 2021, CitizenM raised $1 billion from existing investors to fast-track an expansion plan to grow its 20-hotel portfolio to 24 hotels by year-end 2021 and further boost that to 40 by 2024. The company fell short of its 2021 goals, with a search of its website showing no bookings available for its two new properties in Miami or for a new NoMa property in Washington, D.C., though all three appear to be approaching revised opening dates. A Union Square property in San Francisco, however, had opened and was taking bookings.