Marriott News Center

14 posts categorized "EDITION"

01/15/2014

Times Square Set to Welcome Newest EDITION

701-Seventh-Avenue---Times-Square-EDITIONMarriott International, Ian Schrager and The Witkoff Group Announce Second EDITION Hotel in New York City.

New York, NY - January 15, 2014 – Marriott International, Inc. (NASDAQ: MAR) together with Ian Schrager and The Witkoff Group, Winthrop Realty Trust (NYSE: FUR), New Valley LLC and Maefield Development today announced plans for a second EDITION hotel in New York City. Scheduled to open in 2017 and located in the heart of Times Square, the new hotel will follow the expected 2015 debut of Manhattan’s first EDITION property located in the landmark Clock Tower building at 5 Madison Avenue. EDITION is a first class, full service, luxury lifestyle brand within the Marriott International portfolio, conceived in collaboration with legendary hotelier Ian Schrager.  Marriott International will manage the hotel under a long-term agreement.

Located at 701 Seventh Avenue, this will be the first hotel of this scale to be built in Times Square in over two decades. The world-class hotel design will feature floor to ceiling windows with unobstructed views of Manhattan in seventy percent of the property’s 452 guest rooms. The Times Square EDITION will be one component of a mixed use development which will feature 100,000 square feet of flagship retail, dining, entertainment and event space, as well an 18,000 square foot HD LED sign – one of the largest in the world. In keeping with the identity of EDITION, Mr. Schrager will lead all creative design and positioning for the hotel, as well as the entertainment programming offered within the property.

“New York is one of the most important destinations in the world, and we are delighted to have secured yet another iconic Manhattan location for our second EDITION hotel in the city,” said Arne Sorenson, Marriott’s president and chief executive officer.  “Following the hugely successful opening of The London EDITION last year, we couldn’t be more excited about the potential for this brand,” said Mr. Sorenson. “The Witkoff Group is an ideal partner for a project of this magnitude and we are thrilled to be working together,” said Mr. Sorenson. 

“We are excited to team up with Marriott International, Ian Schrager and our partners to complete the most significant new development in Times Square in a number of years,” stated Steven Witkoff, Chairman and CEO of The Witkoff Group. “In addition to introducing the extraordinary EDITION brand to Midtown, the project will feature a significant amount of prime retail space in one of the world’s most trafficked and successful shopping districts.”

“We are honored to be working with such extraordinary partners in creating a world-class, transformative project in Times Square,” stated Mark Siffin, CEO of Maefield Development.  “It is a remarkable vision that could only be realized through the many talents and capabilities of Marriott, Ian Schrager Company, The Witkoff Group, and our entire JV team.”

Starwood Property Trust, Inc. and iStar Financial Inc. provided to the ownership group an $815 million construction loan for the mixed use project which includes the hotel and retail space.  In addition, Starwood Property Trust, Inc. and Starwood Capital Group Global, LLC and its affiliates have an equity interest in the transaction. As additional collateral for the loan, Marriott International has agreed to provide the lenders with the right (upon an uncured event of default under the loan agreement) to require Marriott to purchase the hotel component of the property during the first two years after opening for $314.6 million (i.e., $696,000 per room).

Mark Elliott of Hodges Ward Elliott acted as a hotel advisor to The Witkoff Group and partners.

Most recently, The London EDITION opened to rave reviews and this month was awarded “Best Hotel, 100 or More Rooms” by Travel + Leisure as part of the magazine’s annual design awards. The modern and luxurious hotel opened this past September in the historic building formerly known as the Berners Hotel, located in the city’s Fitzrovia neighborhood. Future EDITION hotels are planned for Miami Beach (2014), New York City (2015), Abu Dhabi (2015), Gurgaon, India (2015), Sanya, China (2015), Bangkok (2016) and West Hollywood (2017).

Note on forward-looking statements: This press release contains “forward-looking statements” within the meaning of U.S. federal securities laws, including the parties’ plans for signing and closing on definitive transaction documents; the opening dates and locations for future EDITION hotels; and similar statements concerning anticipated future events and expectations that are not historical facts. We caution you that these statements are not guarantees of future performance and are subject to numerous risks and uncertainties, including the ability of the parties to agree on definitive transaction documents, the receipt of necessary consents, and other risk factors that we identify in our most recent quarterly report on Form 10-Q.  Any of these factors could cause actual results to differ materially from the expectations we express or imply in this press release. We make these forward-looking statements as of the date of this press release. We undertake no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.

Visit Marriott International, Inc. (NASDAQ: MAR) for company information. For more information or reservations, please visit our web site at www.marriott.com, and for the latest company news, visit www.marriottnewscenter.com.

About The Witkoff Group: The Witkoff Group is a leading real estate investment, operating and full-service development firm headquartered in New York City. Since its founding by Steven Witkoff in 1997, The Witkoff Group has taken a hands-on, operational approach to all of its projects, with in-house teams focused on acquisitions, asset and property management, development and construction. This structure, along with the company’s proven track record, enables The Witkoff Group to successfully execute complex real estate transactions and development projects. Over the past 15 years, The Witkoff Group has acquired more than 60 properties, consisting of approximately 18 million square feet, in major central business districts throughout the United States and London. These properties include office buildings, hotels and over 12,000 residential units, representing a total cost of approximately $7 billion.

CONTACTS:
Catherine Leitner – Marriott International, Inc.
[email protected]

Joshua Greenwald – Rubenstein Public Relations
[email protected] 

01/07/2014

Marriott Sells London EDITION; Executes Agreements for Sale of Miami EDITION and New York EDITION

London EDITIONRetains Long-term Management Agreements

Bethesda, Md. - January 7, 2014 – Marriott International, Inc. (NASDAQ: MAR) today announced it has sold the London EDITION, and signed binding agreements for the sale of two other company-owned EDITION hotels currently under development in Miami Beach and Manhattan. The total purchase price for the three EDITION hotels is approximately $815 million, roughly equal to the aggregate estimated total development costs of all three hotels. The hotels will each be operated by Marriott under long-term management contracts with their new owners, which are companies ultimately owned by the Abu Dhabi Investment Authority.

The London EDITION opened in September 2013 and was conveyed to its buyer today. The Miami Beach EDITION and the New York EDITION are under construction and expected to open in the second half of 2014, and the first half of 2015, respectively. Marriott expects to convey each hotel individually to the new owner after construction is complete. The Miami Beach and New York purchase prices are fixed; development costs in excess of the agreed purchase price will not be recovered.

“The sale of all three company-owned hotels is a powerful endorsement of our EDITION brand,” said Arne Sorenson, president and chief executive officer of Marriott International. “This transaction is a key component of our strategy to build the EDITION brand by selectively developing spectacular, brand-defining hotels in gateway cities. We look forward to managing these hotels for many years.”

The residential component of the Miami Beach EDITION was not included in this transaction. Marriott will retain ownership of the residential units pending their sale to individual purchasers.

EDITION Hotels, launched by Marriott in partnership with Ian Schrager, combines the intimate, individualized and unique lodging experience for which Ian Schrager is known, with the global reach, operational expertise and scale of Marriott. Other EDITION hotels are planned for Los Angeles; Abu Dhabi; Sanya, China; Gurgaon, India; and Bangkok.

Note on forward-looking statements: This press release contains “forward-looking statements” within the meaning of federal securities laws, including consummation of the hotel sales, the anticipated times for completing construction, and similar statements concerning anticipated future events and expectations that are not historical facts. We caution you that these statements are not guarantees of future performance and are subject to numerous risks and uncertainties, including the ability of the parties to reach binding legal agreements, satisfaction of the closing conditions included in those agreements, and weather-related or other delays in the development and construction process or project cost overruns, any of which could cause actual results to differ materially from the expectations we express or imply in this press release. We make these forward-looking statements as of the date of this press release, and undertake no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.

Marriott International, Inc. (NASDAQ: MAR) is a leading lodging company based in Bethesda, Maryland, USA, with nearly 3,900 properties in 72 countries and territories and reported revenues of nearly $12 billion in fiscal year 2012. The company operates and franchises hotels and licenses vacation ownership resorts under 18 brands, including Marriott Hotels, The Ritz-Carlton, JW Marriott, Bulgari, EDITION, Renaissance, Gaylord Hotels, Autograph Collection, AC Hotels by Marriott, Courtyard, Fairfield Inn & Suites, SpringHill Suites, Residence Inn, TownePlace Suites, Marriott Executive Apartments, Marriott Vacation Club, Grand Residences by Marriott and The Ritz-Carlton Destination Club. There are approximately 325,000 employees at headquarters, managed and franchised properties. Marriott is consistently recognized as a top employer and for its superior business operations, which it conducts based on five core values: put people first, pursue excellence, embrace change, act with integrity, and serve our world. For more information or reservations, please visit our website at www.marriott.com, and for the latest company news, visit www.marriottnewscenter.com.

Connect with [email protected].

 

09/27/2013

EDITION & Vanity Fair Celebrate Opening of The London EDITION

EDITION London LogoTo celebrate 100 Years of Vanity Fair US and the launch of The London EDITION, Vanity Fair has partnered with EDITION on an exclusive digital take over.
 
EDITION is the online sponsor for the 100th anniversary Vanity Fair online campaign, including the magazine’s all new Socially Powered section. In homage to their 100th Anniversary, Socially Powered is showcasing an image gallery of the back catalogue of Vanity Fair covers.  Visitors to the website will be invited to rank their favorite covers and one lucky person will be selected to win the grand prize of a three night stay for two people at The London EDITION.
 
EDITION will participate in five Vanity Fair online homepage takeovers, scheduled to run through mid-October.  In addition, EDITION will be featured on a variety of VanityFair.com pages with daily rotations on their Style, Culture, Business and Politics channels. The coverage will also be available on the publication’s mobile channels. The campaign was launched on September 9th and will run through October 31st, 2013.

For further information on The London EDITION, please visit the website www.editionhotels.com

Facebook.com/EDITIONhotels  / Twitter: @EDITIONhotels  / Instagram: @EDITIONhotels

For press enquiries please contact Stevie King ([email protected]),
Kate Bell ([email protected]), Gabriela Asquith ([email protected]), alternatively please call +44 (0) 207 434 7065, or +44 (0) 207 434 6005

08/16/2013

Marriott Signs Non-Binding Letter for Sale of Three EDITION Hotels

Edition_BlackBETHESDA, MD – August 16, 2013 - Marriott International, Inc. (NYSE: MAR) has recently entered into a non-binding letter of intent for the sale of three EDITION hotels subject to long-term management agreements.  The three hotels (located in London, Miami Beach, and Manhattan) are currently owned by Marriott and are under construction.  The residential component of the Miami Beach EDITION would not be included in this transaction.  The company would retain ownership of the Miami Beach EDITION residential units pending their sale to individual purchasers.

The letter of intent contemplates a fixed sales price of approximately $800 million for the three hotels; this price is approximately equal to Marriott’s expected total acquisition and development cost.  Increases in estimated development costs would not result in higher hotel sales prices.

If the transaction goes forward, the company expects each hotel sale would occur after construction is complete, with the company retaining long-term management agreements.  The company anticipates completing construction of the London EDITION within the next thirty days, the Miami Beach EDITION in the second half of 2014, and the New York EDITION in early 2015.

The company does not anticipate making any further public announcements about this transaction prior to the execution of binding legal agreements.  The company can make no assurance that the transactions contemplated in the non-binding letter of intent will be completed on the current terms or at all, or that construction of the hotels will be completed when anticipated.

Note on forward-looking statements:  This press release contains “forward-looking statements” within the meaning of federal securities laws, including consummation of the hotel sales, the anticipated times for completing construction, and similar statements concerning anticipated future events and expectations that are not historical facts.  We caution you that these statements are not guarantees of future performance and are subject to numerous risks and uncertainties, including the ability of the parties to reach binding legal agreements, satisfaction of the closing conditions included in those agreements, and weather-related or other delays in the development and construction process or project cost overruns, any of which could cause actual results to differ materially from the expectations we express or imply in this press release.  We make these forward-looking statements as of the date of this press release, and undertake no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.

Marriott International, Inc. (NYSE: MAR) is a leading lodging company based in Bethesda, Maryland, USA, with more than 3,800 properties in 72 countries and territories and reported revenues of nearly $12 billion in fiscal year 2012.  The company operates and franchises hotels and licenses vacation ownership resorts under 18 brands, including Marriott Hotels, The Ritz-Carlton, JW Marriott, Bulgari, EDITION, Renaissance, Gaylord Hotels, Autograph Collection, AC Hotels by Marriott, Courtyard, Fairfield Inn & Suites, SpringHill Suites, Residence Inn, TownePlace Suites, Marriott Executive Apartments, Marriott Vacation Club, Grand Residences by Marriott and The Ritz-Carlton Destination Club.  There are approximately 325,000 employees at headquarters, managed and franchised properties.  Marriott is consistently recognized as a top employer and for its superior business operations, which it conducts based on five core values: put people first, pursue excellence, embrace change, act with integrity, and serve our world. For more information or reservations, please visit our website at www.marriott.com, and for the latest company news, visit www.marriottnewscenter.com

Connect with [email protected].

03/28/2012

Marriott International Gives Glimpse Into The Future At First Global General Managers Conference In Five Years

JW & RC - LA LIVELOS ANGELES, CA – Marriott International, Inc. (NYSE:MAR) hosted more than 1,300 attendees from around the world to unveil future innovation and growth plans for its full-service portfolio and to celebrate an 85-year legacy of service. Aptly named "Brand New World," the conference represents the first time property leaders and Marriott senior executives have gathered together since 2005. Marriott International brands participating in the conference include The Ritz-Carlton, JW Marriott Hotels, Bulgari Hotels & Resorts, Marriott Hotels & Resorts, EDITION, Renaissance Hotels, Autograph Collection and Marriott Executive Apartments.

“It is exciting to see how much we’ve grown since our last meeting and to share all of the new and innovative things we are doing now and are planning for the future,” said Arne Sorenson, president and chief executive officer of Marriott International, Inc. “We expect to open roughly 30,000 rooms this year and our development pipeline totals 110,000 rooms, which implies continued strong unit growth well beyond 2012. We are bullish about the long-term growth prospects for both Marriott and the global lodging industry. With a growing middle class and rapid economic growth in many emerging markets, global demand is increasing steadily. Our products are high quality, our guest satisfaction is very high, and our brands are preferred by owners and franchisees. New hotel openings and renovations of existing hotels continue to energize our brands, and with new designs and services, we continue to find great ways to engage our guests.”

News on Marriott International’s full service brands includes:

Ritz-CarltonThe Ritz-Carlton, a name synonymous with luxury, will continue its path of global expansion with plans to take the brand into countries such as Austria and Israel for the first time. With other openings in key gateway destinations such as Okinawa, Vienna, Abu Dhabi, Tianjin, Chengdu and Herzilya, The Ritz-Carlton expects to grow its hotel portfolio to more than 85 hotels within the next 12 months. This growth comes at a time when the brand is also renewing its exceptional service promise. The Ritz-Carlton Hotel Company continues to showcase the core service philosophy that makes them a successful luxury lodging company. Disrupting convention in the category, The Ritz-Carlton poses an alternative style of question to guests, asking ‘Let Us Stay With You’, thereby reversing the age-old approach of hotels asking guests to stay with them. Through the use of artwork, film, messaging, and digital experience platforms, guests are asked to allow The Ritz-Carlton to be much more than just a hotel; indeed to be that indelible memory that lasts a lifetime. www.ritzcarlton.com

JW_logo_bk_vertJW Marriott Hotels, a luxury brand and namesake of the company’s founder, consists of beautiful properties in gateway cities and distinctive resort locations around the world. These elegant hotels cater to today’s sophisticated, self-assured travelers, offering them the quiet luxury they seek in a warmly authentic, relaxed atmosphere. JW Marriott properties provide highly crafted, anticipatory experiences that reflect their locale and are delivered with an intuitive response to personal expectation. Recent news from the brand includes the introduction of several extraordinary partnerships that offer JW Marriott guests the opportunity to experience the best of culture, culinary, and well-being. Partners include exclusive relationships with CHRISTIES, Inc., Aromatherapy Associates, Keri Glassman, Treasury Wine Estates and Dr. Pamela Peeke. There are currently 53 JW Marriott hotels operating in 22 countries, with hotels expected to open by year-end 2012 in Mexico, Peru, India and Azerbaijan. By 2015 the portfolio is expected to encompass 80 properties in 29 countries. Learn more at www.jwmarriott.com.

Bvlgari Hotels & ResortsWith the goal of offering a contemporary, elegant collection of luxury hotels in gateway cities and exclusive resort locations around the world, Bulgari Hotels & Resorts was introduced in 2001.  Today, Bulgari’s exquisite resort destinations in Milan and Bali offer au courant Italian lifestyle experiences. The Bulgari Hotel & Residences, London is expected to open in spring 2012. www.bulgarihotels.com

EDITIONEDITION, a luxury lifestyle hotel brand created in partnership with Ian Schrager, is on track to have six hotels operating in major global gateway cities by 2015. With the January announcement of one of Manhattan's most beloved buildings, the Metropolitan Life Tower “Clock Tower,” newly announced hotel contracts in Bangkok and Abu Dhabi, as well as two hotels under construction in London and Miami Beach, EDITION expects to have hotels on three continents within three years. There is currently one EDITION Hotel open -- The Istanbul EDITION. EDITION combines the personal, intimate, individualized and unique experiences which Ian Schrager is known for, with the global reach and operational expertise of Marriott International. www.editionhotels.com

MHRMarriott Hotels & Resorts, the signature brand of Marriott International, announced this week a collaboration with Steelcase and IDEO to revolutionize hosted work environments in its hotels and to start a dialogue around the evolving needs and mindset of Gen X and Gen Y global business travelers. The Future of Meetings Innovation Lab at the conference showcased ten meeting and work space prototypes that are currently in development. General Managers from around the world had the opportunity to experience these prototypes first-hand, offer immediate feedback and help co-create meeting spaces of the future in real time. The unveiling at the conference represents the first phase of the collaboration among Marriott Hotels & Resorts, Steelcase and IDEO, as the brand demonstrates its deep commitment to re-imagining hospitality for a new generation of global travelers. Marriott Hotels & Resorts is the company’s largest brand by number of hotel rooms globally with hotels, resorts and conference centers in more than 50 countries. www.marriotthotels.com

RenHotels_logo_webBrown 1Renaissance Hotels, the original Lifestyle brand within the portfolio, expects to add nine new hotels this year in key destinations worldwide including Istanbul, Shanghai and Kiev. This planned expansion will further expand Renaissance Hotels’ current portfolio of lifestyle hotels to encompass nearly 160 hotels in 35 countries. In addition to its continued growth, Renaissance Hotels continues to offer guests the opportunity to discover the best of entertainment through its signature RLife LIVE program, one of the hospitality industry’s leading entertainment platforms. RLife LIVE is well recognized for featuring the best of new and emerging musical talent into the hotel for guest and locals. www.renhotels.com

Autograph CollectionAutograph Collection, Marriott’s expanding portfolio of independent hotels that provides individualist travelers with unique experiences, recently announced the addition of The Saint in New Orleans, as well as the iconic Blue Moon and Winter Haven hotels in Miami Beach to its growing lineup. Each of the hotels is the first to join Autograph Collection in their respective cities. With these properties, the collection has accumulated an impressive 32 hotels in its portfolio since its launch in 2010, with plans to add more than 50 properties by the end of 2012 in various key markets worldwide. Along with the continued expansion of the Collection, Autograph also continues to receive rave reviews for its one-of-a-kind website, www.autographhotels.com, developed to inspire the independent traveler.

MEA_Logo_Black4U_8003UMarriott Executive Apartments is Marriott’s only serviced corporate apartment brand offering the convenience of 5-star, full-service hotel facilities with the space, ambience and privacy of upscale residential living and the assurance and security of a Marriott experience. Marriot Executive Apartments properties, which are all located outside of North America, offer studio to three-bedroom apartments and are designed for executive expats staying 30+ nights, usually on temporary assignment or relocation. Each property is influenced by local design elements and features state-of-the-art facilities and technology. There are currently 22 Marriott Executive Apartments locations in 15 countries with plans to nearly double over the next five years. Visit www.marriottexecutiveapartments.com

NOTE: The statements about the future additions of hotels are “forward looking statements" within the meaning of federal securities laws, not historical facts, and are subject to a number of risks and uncertainties, including supply and demand changes for hotel rooms; competitive conditions in the lodging industry; relationships with clients and property owners; the availability of capital to finance hotel growth; and other risk factors identified in Marriott International, Inc.'s most recent annual report on Form 10-K; any of which could cause actual results to differ materially from those expressed in or implied by our statements. These statements are made as of the date of this press release, and we undertake no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.

Visit Marriott International, Inc. (NYSE: MAR) for company information. For more information or reservations, please visit our web site at www.marriott.com, and for the latest company news, visit www.marriottnewscenter.com.

Connect with [email protected]

01/19/2012

Ian Schrager and Marriott International Announce Five New EDITION Hotels in Gateway Cities

Includes Iconic Clock Tower in New York.

42-17801024NEW YORK, NY, USA – Marriott International, Inc. (NYSE: MAR) today announced five new hotels for EDITION, a luxury lifestyle hotel brand created in partnership with Ian Schrager.  The company said that the brand is on track to have six hotels operating in major global gateway cities on three continents by 2015, including one of Manhattan's most beloved buildings, the “Clock Tower.”  New EDITION hotels being announced today also include projects under construction in Bangkok and Abu Dhabi, as well as contracts signed for hotels in Los Angeles and Gurgaon, India. [Additional images are below.]
The New York EDITION will be located at the landmark Clock Tower building at 5 Madison Avenue, which was acquired for $165 million from prior owner Africa Israel USA.  While design work is already underway, the renovation and conversion of the iconic Clock Tower building will begin in late 2012.

“New York is one of the most important destinations in the world, and we are delighted to have secured the Clock Tower as a singular, iconic structure that will become a flagship for the EDITION brand and one of New York’s most compelling places to stay,” said Arne Sorenson, Marriott’s president and chief operating officer.  “While the rollout of the EDITION brand was slowed by the global economic downturn, we remain strongly committed to this brand and are dedicated to its continued development and success.  We are thrilled to add the Clock Tower building to our Edition portfolio,” said Mr. Sorenson.   “We have a number of other exciting projects under way which we expect to announce in the coming months.”

The Bangkok EDITION will be part of a mixed-use development planned for one of the tallest buildings in Bangkok.  The Abu Dhabi EDITION will be part of the prestigious Al Bateen Harbor complex within the Abu Dhabi Marina, an upscale mixed-use development including luxury residential and retail.

“It is a privilege and a once in a lifetime opportunity to work with Marriott on the first EDITION in New York City at the iconic Clock Tower building.  This exciting project, along with all of the current and future projects in the pipeline, will prove that EDITION hotels are like no others in the world,” said Ian Schrager.

Marriott International is developing EDITION hotels in Miami Beach, London and now New York, reflecting confidence in the brand's future growth and success.  The company expects to recycle its property investments over time through the sale of the hotels while maintaining long-term management contracts.

EDITION IstanbulThe London EDITION will open next year in the historic building formerly known as the Berners Hotel, located in the city’s Fitzrovia neighborhood. The Miami Beach EDITION, under construction in the former Seville Hotel, is expected to open in late 2013.  The Istanbul EDITION (pictured left) is open and operating under a long-term management agreement.

EDITION combines the personal, individualized and unique experiences which Ian Schrager is known for, with the global reach and operational expertise of Marriott International.  In keeping with the identity of EDITION, Mr. Schrager will lead the creative design and positioning of these hotels.

EDITION is an unexpected and refreshing collection of customized, cutting-edge, and one-of-a-kind properties. Each one is thoughtfully designed to reflect the individuality, authenticity, and unique attributes of its location, while appealing to a sophisticated traveler who is accustomed to extraordinary service with a modern touch.  Properties are intended to showcase the best in dining and nightlife, services and amenities for travelers and local residents. 

NOTE: The statements about the number and opening dates for the new Edition hotels are “forward looking statements" within the meaning of federal securities laws, not historical facts, and are subject to a number of risks and uncertainties, including supply and demand changes for hotel rooms; competitive conditions in the lodging industry; relationships with clients and property owners; the availability of capital to finance hotel growth; and other risk factors identified in Marriott International, Inc.'s most recent quarterly report on Form 10-Q; any of which could cause actual results to differ materially from those expressed in or implied by our statements. These statements are made as of the date of this press release, and we undertake no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.

For more information or to book your stay, please visit www.editionhotels.com

Visit Marriott International, Inc. (NYSE: MAR) for company information. For more information or reservations, please visit our web site at www.marriott.com, and for the latest company news, visit www.marriottnewscenter.com.

Connect with [email protected]

 

09/01/2011

Marriott Says Waikiki Owner Bankruptcy Self-Defeating; Will Pursue Tens of Millions of Dollars in Damages

The filing by the owner of the Waikiki EDITION and its legal advisors of a bankruptcy proceeding to prevent Marriott International, Inc. (NYSE: MAR) from retaking management of the hotel is a self-defeating step that ultimately involves the destruction of significant value of the owner’s asset, Marriott said today.

Ed Ryan, Marriott International’s executive vice president and general counsel, said, “While we are astonished at such a self-destructive course of action, we of course respect the law and the fact that a bankruptcy filing freezes any other legal orders for the time being.  It is clear that this was a desperate step by the owner and legal advisors to circumvent the New York court’s order returning the hotel to our rightful management and control.  They will obviously stop at nothing in the effort to escape from the contractual obligations they made to us when they signed the management agreement.

“We will vigorously pursue tens of millions of dollars of claims for damages to the brand and our company in bankruptcy court over time.  We understand the disappointment that our guests and employees feel about the current status of the Waikiki EDITION, and will strive to do all we can to help the transition to new plans.”

The company said its court filings would counter the continuous stream of false and misleading statements regarding its management of the hotel by the owner and its legal counsel.  For example, inaccurate statements by the owner notwithstanding, occupancy rates at the Waikiki EDITION were 67 percent in July and were running in excess of 80 percent in August prior to the illegal raid and seizure of the hotel by the owner and its partner overnight last Sunday. Yesterday, a New York court ordered that management of the hotel should be returned to Marriott.

Marriott said that guests holding reservations at the Waikiki EDITION could call Marriott Customer Care, at 1-800-559-9352 to receive more information and to change their reservations to other Marriott International hotels. 

Visit Marriott International, Inc. (NYSE: MAR) for company information. For more information or reservations, please visit our web site at www.marriott.com, and for the latest company news, visit www.marriottnewscenter.com.

Connect with [email protected]

08/31/2011

Marriott Takes Back Operation of Waikiki EDITION

After an overnight raid last Sunday seizing control of the Waikiki EDITION from Marriott International, Inc. (NYSE: MAR), the owners of the hotel were ordered by a New York state judge to return the hotel to Marriott’s control as of 8:30 p.m. today eastern time, which is 2:30 p.m. Honolulu time.

Arne Sorenson, Marriott International’s president and chief operating officer, said, “The past few days have been trying, frustrating and confusing for our guests and employees. We’re glad the judge returned the Waikiki EDITION to our hands.   We are in the process of resuming operations, quickly returning the hotel and its service to EDITION standards.

"We take great pride in providing the gracious, sophisticated, and personalized service that has won EDITION accolades from media and guests as a dramatic and dynamic new brand, and we look forward to serving our guests again very soon."

Ed Ryan, Marriott International executive vice president and general counsel, said, “We took swift legal action following this event and are gratified that a New York court ordered operational control and management of the Waikiki EDITION returned to us pursuant to our contract.”

Marriott was represented before the New York court by the firm of Jenner & Block, with the owner represented by Bickel & Brewer.

Reservations for the Waikiki EDITION can be made through Marriott.com and Marriott voice reservations, as well as through numerous online and other travel providers.

Visit Marriott International, Inc. (NYSE: MAR) for company information. For more information or reservations, please visit our web site at www.marriott.com, and for the latest company news, visit www.marriottnewscenter.com.

08/29/2011

Marriott Says Takeover of Waikiki EDITION by Owner Illegal

Will Aggressively Oppose Move; Remains Deeply Committed to the EDITION Brand.

The takeover of the EDITION Hotel Waikiki early Sunday morning by the hotel’s owner and affiliated partners was illegal and a blatant violation of Marriott’s contractual agreement with the owner, Marriott International, Inc. (NYSE: MAR) said today.  

"This is a deeply unfortunate, regrettable and illegal event. The owner and its partners raided the hotel literally under cover of night, forcibly taking over the property and threatening our employees with dismissal unless they immediately agreed to a change of management. We will aggressively and vigorously pursue all remedies against the owner and its partners in this illegal act," said Arne Sorenson, Marriott’s president and chief operating officer.

The company said that the hotel’s owner had knowingly, wrongfully, and materially breached a long-term management agreement with Marriott with 29 years remaining.  Marriott has demanded that the owner’s partner vacate the hotel and return control to Marriott.  Marriott will also seek substantial damages from the hotel’s owner and its partners for their conduct in damaging the operation and reputation of the hotel, Marriott and the EDITION brand.

The company reiterated its strong and deep commitment to the EDITION brand, citing glowing reviews of both the Waikiki EDITION and Istanbul EDITION hotels by major media and customers.  The Waikiki EDITION was included on the Conde Nast Traveler 2011 Hot List of the World’s Best Hotels and the Travel + Leisure 2011 World’s Best New Hotels.  The company also said it has invested over $400 million to open two new EDITION hotels in prime gateway destinations, London and Miami Beach, over the next two years.

Marriott is actively pursuing development projects for the EDITION brand in Chicago, Los Angeles, New York, Washington DC, Mexico City, and Bangkok.

For the immediate future, reservations cannot be made at this hotel through normal Marriott channels, including Marriott.com and Marriott’s voice reservations phone numbers.  For existing reservations or other questions, guests should contact Marriott Customer Care at 1-800-559-9352.

Visit Marriott International, Inc. (NYSE: MAR) for company information. For more information or reservations, please visit our web site at www.marriott.com, and for the latest company news, visit www.marriottnewscenter.com.

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05/16/2011

Tim Miller to Lead EDITION Hotels, Marriott’s Luxury Lifestyle Brand

Miller, Tim EDITIOn 2011 Marriott International said today that Tim Miller has been named Senior Vice President and Managing Director for EDITION Hotels, the company’s luxury lifestyle hotel brand.  Mr. Miller will set EDITION’s brand strategy, oversee operations and work with Marriott’s Development team to expand the brand, which currently has hotels in Waikiki Beach, Hawaii, and Istanbul.  Another five projects are in advanced stages of development in major gateway cities worldwide, including London and South Beach in Miami, Florida.

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