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20 posts categorized "EDITION"

05/13/2015

The New York EDITION Ushers in an Era of New Luxury For a New Generation

EDITION NY ClocktowerOpening In May, The Clocktower Extends The Very Boundaries Of Luxury In New York City

NEW YORK, May 13, 2015 - People are changing. New York is changing. Luxury is changing.  With The New York EDITION, Ian Schrager and Marriott International respond to this changing landscape by introducing a new luxury for a new generation. Download image.

Until now, the idea of a modern luxury hotel was an oxymoron.  Luxury hotels, except for a few rare exceptions, were traditional in design by definition—the more luxurious a hotel was, the more traditional looking it was expected to be.  Ian Schrager and Marriott International recognized that this safe approach and “give no offense” design philosophy was itself an offense.  Again, except for rare exceptions, luxury hotels continue to be predictable. A new generation that has grown up in the age of technology, social media, instant access, the proliferation of global consumer brands, affluence and conspicuous consumption has long craved an alternative. Many people’s priorities have changed and so have their needs and desires.  Luxury for them is no longer about traditional status symbols, outdated notions of luxury or how much something costs. They simply desire an elevated experience and one that makes them feel good. And, they desire a hotel that is steeped in simplicity, refinement, sophistication, good taste and restraint, but is at the same time, just as striking, glamorous, exciting, surprising, joyful and memorable. It is this fusion that creates the uniqueness and distinction that people have come to expect from Ian Schrager and EDITION. 

Today’s modern travelers, more connected than ever due to social media, are now hungry for community and social interaction in the physical world, not just online. They seek to surround themselves with likeminded individuals with common interests, views, aesthetics, tastes and desires. Schrager and Marriott have provided this new generation with the alternative that speaks to the way they live and travel today, which are now one and the same.

This new luxury is also the luxury of simplicity. The challenge however lies in the fact that it is difficult to do “simple”, and to do it well. Yet, a quiet, edited, refined approach speaks volumes louder than the “look at me” design that is so prevalent today in a time of a one-upmanship mentality. The New York EDITION evokes a new age of American Glamour—an understated, timeless aesthetic that is incapable of being categorized or defined in textbook design terms.

The New York EDITION pays more than lip service to being a home away from home. It is truly a “hotel as private home”. Inspired by New York City’s turn of the 20th century private clubs, Fifth Avenue’s Gilded Age Mansions and Stanford White’s architectural masterpieces, the hotel’s residential feel will instantly draw guests in, and the hotel will serve as a refuge in the city and from the city. It is akin to staying in the guest room of a private home, rather than a hotel room. Despite the inherited pedigree of this building, it was essential that the interiors were infused with a modern, sophisticated design vernacular. Not unlike what was achieved with The London EDITION by giving a modern twist and punk touches to the likes of a traditional, aristocratic English country estate and the quintessential London private gentleman’s club, The New York EDITION will possess a similar fusion of old and new. “I'm always interested in upsetting the status quo and going off in new directions. Combining opposites and unexpected surprises has always been fascinating to me. When two opposing aesthetics come together, they either fail miserably or create alchemy.  If done well, the presence of one will always serve to showcase the other.  It takes the experience of staying in a hotel to a whole new level and the end result is impossible to categorize,” Schrager says.  

The New York EDITION makes its debut in the world-famous, iconic “Clocktower” building, otherwise known as the Metropolitan Life Insurance Company Tower.  The building was designed by the architectural firm of Napoleon LeBrun & Sons and completed in 1909. At the time, it was the tallest building in New York City until the Woolworth building opened in 1913.  It is situated on Madison Square Park in a neighborhood of the city referred to as NoMad.

This exciting and emerging area has never had a luxury hotel.  As a result, the Clocktower extends the very boundaries of luxury in New York City.  The area has recently been transformed by the development of myriad luxury residential condominium buildings and fine dining restaurants, and is now ripe for luxury hotels. It sits right on the border between uptown and downtown, north of the Meatpacking District, Chelsea, Greenwich Village, Soho and Tribeca, and south of the 57th street shopping corridor and Times Square. With forces pushing from every direction, this area, together with Hudson Yards, is fast becoming the new center of town.  “Luxury has a new address,” says Arne Sorenson CEO of Marriott International. “With the opening of our first EDITION hotel in New York City and the loving restoration of the century old Clocktower building, we have ushered in a new era of timeless hospitality.”

The 273-room hotel will be activated by day and by night with a restaurant by London’s hottest young chef Jason Atherton, two bars and a billiard room. Inside, much of the building’s existing design was embraced, retaining and restoring the original dark wood on the walls and the floors on the second floor.  But, the old was offset with the new to add a downtown New York City feel. The lobby and lobby bar’s classic Venetian plaster walls starkly contrast the custom cast concrete oversized windows that look out over Madison Square Park. The 30ft-long hand forged blackened steel fireplace and the sculptural spiral staircase leading up to the second floor are modern interpretations of those found in the grand mansions of Millionaire’s Row. The Jean-Michel Frank-inspired coffee tables and chairs of the 1920’s, Christian Liagre-designed floor lamps, concierge desk and chair, and lounge chairs inspired by modernist Erik Koling Andersen and Alvaro Alto all with fabrics and leathers in soft tones of oatmeal, silver and white, create a light and airy feel that is both warm and inviting. “It is impossible to label this look,” says Schrager. “And, rightly so.  We are never out for a look.  We are out for a feel and an experience.”

The restaurant, on the second floor overlooking the park, is where the subtle play of modern and period design continues in new forms. Three intimate dining rooms, a parlor with a billiard table and a library serving cocktails, after dinner drinks and dessert, are separate as in a private home, but come together seamlessly to form a whole.  Drawing from over four centuries of art and design, the rooms feature original herringbone oak floors, original mahogany wainscoting on the walls, and a restored Venetian plaster ceiling. The velvet chairs and banquettes, upholstered in rose, green and blue, are inspired by the vibrant colors of the Dutch masters, notably Vermeer. Each of the three dining areas has a large chandelier by modernist designer Eric Schmitt.  They are made from three black iron arms that support a 7ft diameter ivory plaster ring.

Above the lobby and the restaurant are the 273 guest rooms. Guests enter into a dark oak wood paneled foyer, much as they would if they were entering an upscale New York apartment in the 1920s. The rooms are serene, comforting and feel like an oasis from the outside world. There is visual drama, too. The original windows in each room perfectly frame the New York City skyline. Many of the suites have 180-degree views of Manhattan and the 1,400 square foot penthouse apartment has 360-degree vistas. Each room has a classic, extra long and deep floating white oak desk, inspired by Jean-Michel Frank, and a bed with a dark walnut headboard and a custom-built walnut platform with bespoke walnut nightstands.

Travelers’ tastes are changing when it comes to service, too.  The EDITION brand has responded to this change by offering modern service that is accessible and gracious, charming and attentive, but not familiar, where the staff treats guests as an individuals knowing just when to offer to help and just when to get out of the way. It expels traditional obsequious and pretentious service that today’s travelers are no longer interested in.  EDITION creates the right service infrastructure to enable these travelers to do what they want to do, whatever it may be, whenever. One example can be seen with dining options. EDITION restaurants and room service offer the finest rare cuts of beef and wild Atlantic salmon, if that’s what guests want. But if a guest prefers simple pasta with tomatoes and olive oil or a burger, those offerings will be available, delicious and won’t break the bank.

The New York EDITION, like every other EDITION, is a custom-made one-off hotel that is authentic and modern, and yet feels very personalized and individualized. It is of its place and of its time and unlike any other EDITION before it or to come. With a New York hotel finally launching and global expansion plans, it is evident that the Schrager/Marriott International partnership seeks to not only have the biggest impact, but to have the best hotel product possible. So far, so good.

Connect with Catherine.Leitner@ritzcarlton.com

04/01/2015

Marriott Sells New York EDITION, Retains Long-term Management Agreement

EDITION New York Clock TowerManhattan’s first EDITION in landmark Clock Tower Building Scheduled to Open in May

Bethesda, Md., April 1, 2015 – Marriott International, Inc. (NASDAQ: MAR) today announced it has completed the previously contracted sale of The New York EDITION hotel for net cash proceeds of approximately $343 millionToday’s transaction is the last in a series of three sales of Marriott-owned EDITION hotels, including the London EDITION (completed in 2014), the Miami Beach EDITION (completed in February 2015) and the New York EDITION.  Combined proceeds from the sale of these hotels total approximately $816 million.

“Following successful openings of The London EDITION and The Miami Beach EDITION, we couldn’t be more thrilled to welcome The New York EDITION in the iconic Clock Tower building to our portfolio,” said Arne Sorenson, Marriott’s president and chief executive officer.  “This hotel will become a flagship for the EDITION brand and one of New York’s most exciting places to stay when it opens later this spring.”

The New York EDITION sits directly across from Madison Square Park, centrally located on 24th Street and Madison Avenue. Originally built in 1909 as the headquarters for The Metropolitan Life Insurance Company, the historic 41-story clock tower is a New York landmark. The hotel’s interior, designed by world-renowned architect David Rockwell, will evoke the intimacy of a private home. The New York EDITION will feature 273 guest rooms and suites with spectacular views of the city as well as a restaurant, versatile meeting and event space, an intimate lobby bar; and a state-of-the-art fitness center and spa. 

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.  In addition to West Hollywood, other EDITION hotels are planned for New York (Times Square); Bangkok, Thailand; Sanya and Wuhan, China; Bali, Indonesia; and Abu Dhabi, UAE with ongoing discussions for other exciting locations.

Marriott International, Inc. (NASDAQ: MAR) is a global leading lodging company based in Bethesda, Maryland, USA, with more than 4,100 properties in 79 countries and territories.  Marriott International reported revenues of nearly $14 billion in fiscal year 2014. The company operates and franchises hotels and licenses vacation ownership resorts under 19 brands, including: The Ritz-Carlton®, BVlgari®, EDITION®, JW Marriott®, Autograph Collection® Hotels, Renaissance® Hotels, Marriott Hotels®, Delta Hotels and Resorts®, Marriott Executive Apartments®, Marriott Vacation Club®, Gaylord Hotels®, AC Hotels by Marriott®, Courtyard®, Residence Inn®, SpringHill Suites®, Fairfield Inn & Suites®, TownePlace Suites®, Protea Hotels® and MoxyHotels®. Marriott has been consistently recognized as a top employer and for its superior business ethics. The company also manages the award-winning guest loyalty program, Marriott Rewards® and The Ritz-Carlton Rewards® program, which together surpass 49 million members. For more information or reservations, please visit our website at www.marriott.com, and for the latest company news, visit www.marriottnewscenter.com.

Contact: Felicia McLemore, (301) 380-2702, felicia.mclemore@marriott.com

02/19/2015

Marriott Sells Miami Beach EDITION, Retains Long-term Management Agreement

Miami Beach EDITION HotelThe Next Generation Urban Resort Opened in November

BETHESDA, Md, February 19, 2015 – Marriott International, Inc. (NASDAQ: MAR) today announced it has sold The Miami Beach EDITION hotel for cash proceeds of $230 million.  Today’s sale is the second in a series of three anticipated sales of Marriott-owned EDITION hotels to companies ultimately owned by the Abu Dhabi Investment Authority (ADIA).  The agreement with ADIA for the sale of these three EDITION hotels was announced when the first, The London EDITION, was sold to ADIA in January 2014.  Marriott expects to sell the third, The New York EDITION (5 Madison Avenue) to ADIA in the first quarter of 2015. 

“The Miami Beach EDITION is a defining example of this extraordinary brand,” said Arne Sorenson, president and chief executive officer of Marriott International.  “We look forward to welcoming and delighting many thousands of guests at this spectacular hotel in a world-renowned destination…one that is certain to be known as the next generation urban resort.” 

The Miami Beach EDITION is located in “heart of Miami Beach” between South Beach and North Beach—on a three and a half-acre private enclave stretching from Collins Avenue to the ocean shoreline.  The property is an elegantly designed complex of structures, spaces, and settings that together offer a new kind of resort environment. With The Miami Beach EDITION, every aspect of the traditional beach hotel has been re-imagined for the needs and desires of a new segment of non-traditional luxury lifestyle consumer, and every thought given to enhancing a guest’s stay: for vacation, for relaxation—and for work.

Just a few months ago, Marriott finalized long-term management agreements with owners who will develop an EDITION hotel and residences in the Los Angeles area.  Located on the famed Sunset Boulevard in West Hollywood, the property is expected to open in 2018.

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.  In addition to West Hollywood, other EDITION hotels are planned for New York (Times Square); Bangkok, Thailand; Sanya and Wuhan, China; Bali, Indonesia; and Abu Dhabi, UAE with advanced ongoing discussions for other exciting locations.

Note on forward-looking statements: The anticipated completion of construction and sale of the New York EDITION hotel in the first quarter of 2015, the 2018 opening of the EDITION hotel in West Hollywood, and plans for new EDITION hotels in other locations are “forward-looking statements” within the meaning of federal securities laws, and are subject to numerous risks and uncertainties, including satisfaction of the closing conditions in the agreements for the New York EDITION, weather-related or other delays in the development and construction process, changes in market conditions, supply and demand changes for hotel rooms, the availability of capital to finance hotel growth and refurbishment, and other applicable “Risk Factors” that Marriott International, Inc. discloses in its most recent annual report on Form 10-K or quarterly report on Form 10-K, any of which could delay or prevent the completion and sale of the New York hotel, or the development of EDITION hotels in other locations. 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 global leading lodging company based in Bethesda, Maryland, USA, with more than 4,100 properties in 79 countries and territories.  Marriott International reported revenues of nearly $14 billion in fiscal year 2014.  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, Moxy Hotels, Courtyard, Fairfield Inn & Suites, SpringHill Suites, Residence Inn, TownePlace Suites, Protea Hotels, Marriott Executive Apartments and Marriott Vacation Club timeshare brand.  Approximately 330,000 people work at Marriott managed and franchised hotels around the globe.  Marriott has been consistently recognized as a top employer and for its superior business ethics. The company also manages the award-winning guest loyalty program, Marriott Rewards® and The Ritz-Carlton Rewards® program, which together surpass 49 million members.  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 felicia.mclemore@marriott.com

 

12/02/2014

The Miami Beach EDITION: A City Comes of Age

The Miami Beach EDITIONIan Schrager and Marriott International Reinvent The Urban Resort For The 21st Century.

There is a moment that comes in the life of a city. With the arrival of a single new project or development, forces that have been building for years suddenly become clear, and the city as a whole is propelled to a new place, a new stage of growth, a new status on the world stage.

For Miami, that moment has come. With the opening of the Miami Beach EDITION, a spectacular next- generation urban resort by Ian Schrager in partnership with Marriott International, the city not only gains a unique oceanfront complex designed for 21st century recreation, socializing, networking, and business, but also takes its next great leap into the future. Download image.

In many ways, the new EDITION represents the most important step forward for the city since the moment when Schrager’s last Miami hotel, the Delano, opened in 1992—and changed everything. “Up until then, there hadn’t been a new hotel built in Miami Beach in almost 40 years,” Schrager recalls. For decades, the great mid-20th century resort city and its hotels had slipped into stasis and decline, as the jet age allowed vacationing Americans to flock to Europe and the Caribbean in place of their old Florida standby. But in the early 1990s, Schrager sensed that something exciting and fresh was emerging in the historic Art Deco blocks of South Beach: a new population, and new kind of cultural energy. Building on that realization, he created the Delano—and suddenly Miami Beach was on the map again, the hotel’s cutting-edge design and stylish atmosphere drawing sophisticated travelers back to the city for the first time in a generation. “The fundamentals were always there: the ocean, the beach, the weather, the frequent flights,” Schrager notes. “All one had to do, it seemed to me, was create something special and comfortable; it was an example of ‘build it and people will come.’”

“Ian Schrager will once again redefine the destination with the opening of Miami Beach EDITION and a one-of-a-kind experience that only he could create”.  - Arne M. Sorenson, President and CEO, Marriott International

Two decades later, the Miami Beach EDITION represents the next great seminal event in the life of the city. Like its predecessor, it is built upon a realization about the profound shifts and changes that have transformed Miami in the years since the Delano opened. No longer merely a getaway spot for people seeking a break from winter, or the place, as Lenny Bruce put it, “where neon goes to die,” Miami has emerged in the last two decades as world-class capital, a 24-hour gateway city whose cultural scenes— in art, architecture, music, fashion, cuisine, design—now rival any of the world’s urban centers, and attracts people from every corner of the globe. The explosive growth of Art Basel Miami has made the city a focal point of the international art world, while the rise of lively new areas such as the Biscayne Boulevard corridor, Wynwood, the Design District—along with downtown Miami itself—have given it the kind of resurgent, bustling, creative districts that cities like New York, Los Angeles, Paris and London have long enjoyed.

Above all, a tectonic shift is placing Miami at the fulcrum of 21st century culture, as the longtime cultural primacy of East and West Coasts, built in part on their ties with, respectively, Europe and Asia, is now being supplemented by the emergence of a third great “coast,” looking south, and energized by its links to the vibrant energies of Latin America—in music, fashion, art, design, food, entertainment—energies which are being funneled through Miami as nowhere else, and turning it into a new kind of global capital. “The old ‘bicoastal’ cultural model,” Schrager notes, “is really now more ‘tricoastal’: a kind of golden triangle of New York, L.A., and Miami.” The arrival of the new EDITION, like the Delano two decades ago, will at once ratify the city’s new stature—and propel its evolution even further.

“There are thousands of boutique hotels out there—some are good, some are not so good; but they’re all replicating what Steve [Rubell] and I did. This is something else, a step forward. It’s a new kind of place—it’s the next-generation urban resort, and the next-generation business and lifestyle hotel. There’s nothing else like it on the beach or anywhere else.”  - Ian Schrager

Located in the Mid-Beach area—the historic “heart of Miami Beach” between South Beach and North Beach—on a three and a half-acre private enclave stretching from Collins Avenue to the ocean shoreline, the Miami Beach EDITION is not merely a hotel, but an elegantly designed, intricately interlinked complex of structures, spaces, and settings that together offer a new kind of resort environment, where every aspect of the traditional beach hotel has been re-imagined for the needs and desires of a new generation, and every thought given to enhancing a guest’s stay: for vacation, for relaxation—and for work.

Indeed, the Miami Beach EDITION is the first resort hotel to embody a lifestyle revolution that has only begun to make itself felt in the world of hospitality. For a new generation of businesspeople, the era of the traditional office environment is coming to an end. Today’s entrepreneurs, creatives, and professionals have little interest in doing business in a formal or traditional corporate setting; instead, they want to work in places of comfort, and style, and human interaction, places where they can feel completely at home, fully connected, and part of a larger experience. Nor do they see any need to isolate their work from the rest of their lives, and, thanks to the power and connective universality of their laptops and handhelds, they can carry out business almost anywhere.

A few small venues, mostly catering to the tech world in the Pacific Northwest, have begun to recognize this, but Miami Beach EDITION will carry the idea to an entirely new level, the first not only to integrate into its very design this new dynamic of working, networking and socializing, this blurring of the lines between work and play, but the first to combine it with the elevated experience and superior level of comfort, convenience, and features expected by the most sophisticated patrons. And, of course, it will be the first to offer all of this in a resort hotel, located in one of the greatest oceanfront settings in the world.

“We’re rethinking the relationship between a resort and a businessperson,” says Schrager, “and we’re saying, you’ll be able to come here for your business, and why shouldn’t you be able to have fun, and enjoy life while doing business, and networking, and being with a lot of like-minded people, in a new kind of space that is almost a kind a business club.”

“The sophisticated approach to modern luxury through design, culinary and entertainment elements so unique to Ian Schrager, combined with Marriott’s well-known service and operational culture, is what makes EDITION one of the most intriguing brands in the industry. The experience we’ve been able to co-create with EDITION—beginning in London and now in Miami—is one that excites a new generation of travelers. The future is bright for EDITION,   and we are thrilled to introduce such a stunning and extraordinary project to Miami Beach.” -  Arne M. Sorenson

Two overall goals have informed the concept and program of the Miami Beach EDITION. The first is “one- stop shopping,” providing everything a guest could imagine—dining, nightlife, socializing, recreation, culture, work and meeting space—within the complex. Once there, in other words, one has no reason to leave. (Needless to say, however, it is one of the great attractions of the EDITION to offer beyond its walls the entire metropolitan landscape of Miami, a true 24-hour place whose myriad offerings far surpass most resort areas and indeed most other cities.)

The other goal is to draw upon and enhance the deepest traditions of glamour and sophistication of one of the world’s greatest resort destinations: postwar Miami Beach—or the “Billion Dollar Sandbar,” as it was known in the 1950s. A stylish and thoughtful renovation of the landmark 1955 Seville Hotel by architect Melvin Grossman—whose “tower-on-a-pedestal” design represented a key step in the evolution of “Miami Modern” hotel architecture—the EDITION not only preserves much of the historic fabric, but evokes in its interiors the spirit of tropical elegance that defined Miami at its greatest.

This will be evident from the moment guests step into the hotel lobby, whose pristine white marble floors and polished white pearl Venetian plaster walls, highlighted with subtly variegated tones of gold and the deep green of indoor palm trees, will bring to mind such iconic gathering places as the world-famous Coconut Grove in the golden age of Hollywood. One of the few hotel lobbies in Miami Beach to offer a view of the ocean, the spirit of the space, like the hotel itself, can be summarized as “barefoot chic” or “new tropical”: a sense of casual elegance well suited to the soft air and gentle breezes coming in from the sea, along with certain sense of informal glamour. “You might see people in golf attire, a bathing suit, a Pilates uniform, formal evening clothes  or jeans,” Schrager notes, “all comfortable, all being themselves, all connected by a certain sensibility.”

Filled with a variety of comfortable seating groupings and intimate lounging areas, the lobby will embody the EDITION’s next-generation spirit, a place where the lines between work and play, socializing and networking, begin to blur. A couple enjoying a romantic moment, a family on holiday, businesspeople gathered for an informal work session, an entrepreneur polishing a marketing plan, a fashion model being interviewed by a creative director—all will be happening at the same time, in the same great room, all embraced by the understated décor and grand proportions of the hotel’s historic architecture.

Just off the lobby, guests will find the Market—an imaginative reinvention of the classic 24-hour Miami Beach coffee shop by the Michelin star chef Jean-Georges Vongerichten. Offering its own street entrance on Collins Avenue and inspired by the great century-old markets of San Miguel in Madrid and La Boqueria in Barcelona, this 21st century food bazaar—part patisserie, part boulangerie, part salumeria—will offer next-generation casual gourmet fast food around the clock at a series of bustling counters, an open-air café (overlooking the avenue), and a take-out area; an enticing range of healthy international items—from pizza and panini to baked goods, from ceviche and tapas to shakes and smoothies—will be found on its constantly rotating menus. “Just like the great old coffee shops on Collins Avenue,” Schrager notes, “it’s a place that can be your first stop of the day, and your last stop of the night.”

Over on the beach side of the hotel, meanwhile, two stylish interior spaces will evoke classic Miami Beach elegance and sophistication: the Ocean Bar, a chic, elegantly designed lounge whose wide glass walls overlook the Atlantic, and the Matador Room, the hotel’s main restaurant—a grandly proportioned, glamorous oval-shaped space that recalls all the excitement of Miami Beach’s heyday (the kind of place, Schrager says, “one might expect to see Fred Astaire and Ginger Rogers waltzing through”), where Jean- Georges will create a modern interpretation of Latin cuisine influenced by Spanish, Caribbean and South American flavors. The seasonal menu, composed of small and large plates, will utilize a bounty of the freshest Floridian ingredients.

These rooms in turn will link to the hotel’s extraordinary outdoor resort area, named “Tropicale” in honor of the historic 1950s Havana nightclub that inspired it, the Tropicana. Landscaped by Madison Cox, a series of landscaped outdoor “rooms,” each with its own personality, will offer guests different kinds of experiences over the course of the day, but link together seamlessly to create a single relaxing environment— one that transforms in the evening into a magical outdoor nightclub, where couples can dance under the stars as the moon rises over the sea. Guests can enjoy a drink under a romantic pergola, or sit in the Terrace Bar overlooking the pool area, or wander a little ways—past a second, even larger landscaped pool—to find a private beach, complete with an outdoor movie screen (like a “drive-in movie theater,” Schrager notes, “but without the cars”), an outdoor fire pit, and a village of private bungalows— all arranged within a lush pastoral landscape whose handsome trees, lawns, and plantings feel more like a botanical garden than a conventional hotel. One lovely discovery will be a freestanding “Hot Shoppe” for delicious healthy snacks and shakes—an homage to the original Washington, D.C., A&W root beer stand, founded by J. Willard and Alice Marriott in 1927, from which the Hot Shoppes and eventually today’s vast Marriott International arose.

The vision of a next-generation resort hotel that is also a business hotel—embodied everywhere from lobby to guest rooms—comes to a culmination in the Forum, a 10,000 square-foot amenity (among the largest of its kind in Miami Beach) that reimagines the traditional conference center and event space.

Accessible both from the lobby and its own entrance on Collins Avenue, the Forum features a large daylighted reception room and landscaped exterior event space that together create a kind of indoor/ outdoor “cultural park,” with gallery openings, art exhibitions, film festivals, and cultural programs not only during Miami Art Basel but year-round—along with a ballroom designed in a contemporary style that avoids the ornate chandeliers and fittings of the typical conference space. Stylish, intelligently laid-out meeting spaces—equipped with state-of-the-art A/V, projection, teleconferencing and networking—will host everything from product launches and media events to academic conferences and corporate retreats.

Downstairs, in the evenings—and late into the night—hotel guests and visitors (who can arrive through a separate street entrance) can find another world altogether: a new kind of multidimensional entertainment hub—“a sort of red-light district, but legal,” Schrager says, “for the wild at heart”—to raise to a new bar what is already (with Ibiza) one of two greatest nightlife capitals of the world. Here guests will be able to choose among a dazzling range of environments, to be experienced one at time, or together across a night. At its heart is a select and fashionable “micro-club”: a sexy, modern-day version of Schrager’s legendary Studio 54, with world-class DJs, dance floor, and soundstage-quality sound and lighting systems (by Patrick Woodroffe, designer of films and concerts for Michael Jackson, Lady Gaga, Beyoncé and the Rolling Stones) that will transport patrons in ways they have never experienced. (“This picks up where Studio left off,” Schrager says, “a visual riot, sensory overload, a truly serious dance club.”) Continuing to explore, guests can don customized shoes (by famed artists) to find a bowling alley and lounge—reimagined with sound, lighting, luminescent bowling balls, and midnight bowling leagues into a place of 21st century spectacle, socializing and fun. And beyond that, a truly startling, almost Alice-in- Wonderland sight: an indoor ice-skating rink, its skaters gliding to the beat of a superb sound system, its ice surface become the canvas for spectacular lighting effects, its wide windows onto the street providing a surreal, almost Dali-esque sight for those driving or walking along Collins Avenue on warm evenings.

Every luxury hotel, of course, is ultimately judged by its guest rooms and its service. Miami Beach EDITION’s rooms and suites will be luxurious by every standard—generous and elegant in their design, their warm wood finishes and relaxed, beach-house feel offering a “refuge,” in Schrager’s words, with “everything your need and everything you want.” Embodying his deep belief that “simplicity is true luxury,” the rooms will also carry through the hotel’s mission to become a place where recreation and work can blend into one comfortable whole, through features—from oversized desks to ergonometric seating to sophisticated lighting—that allow them to serve equally well as micro-workspaces as places of retreat.

That contemporary approach to luxury, in turn, will inform the hotel’s extraordinary service, which offers all the personalized attention one might want in a luxury hotel, but in a friendly, unpretentious, and modern way, with superb training and efficiency, but without the gold epaulettes or obsequious formalities.

In the end, few individuals have done more to put Miami Beach at the forefront of global culture than Ian Schrager, whose Delano hotel captured and compressed the excitement of a city being reborn, and propelled it into the future. Now, partnering with Marriott International for EDITION, he once again gathers in a single extraordinary place the energies of a new cultural moment for Miami and pushes it forward— providing a thrilling new direction for the city as it fully takes its place on the world stage.

Connect with catherine.leitner@ritzcarlton.com 

10/31/2014

EDITION Hotel and Residences Coming to West Hollywood

Expected to be Brand’s Flagship Location on West Coast

BETHESDA, MD, October 31, 2014 – Marriott International, Inc. (NASDAQ: MAR) and affiliates of The Witkoff Group and New Valley have signed agreements for the development of an EDITION Hotel and residences in West Hollywood, Calif.   Marriott will manage the hotel under a long-term contract.

Expected to open in 2018, the West Hollywood EDITION will be a world-class, luxury lifestyle hotel and EDITION’s flagship location on the West Coast.

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.  Currently in Istanbul and London, and soon to open in Miami Beach, other EDITION hotels are planned for New York (the New York EDITION and Times Square EDITION); Abu Dhabi, UAE; Sanya and Wuhan, China; Gurgaon, India; and Bangkok, Thailand, with advanced ongoing discussions for other exciting locations.

Arne Sorenson, Marriott International’s president and chief executive officer, said, “An EDITION hotel in West Hollywood is a key element in our brand strategy.   Our EDITION brand is growing momentum on a global scale, and we are delighted to work with The Witkoff Group as partners in bringing this fabulous new hotel to a fantastic destination.”

Steve Witkoff, CEO of The Witkoff Group, said, “This is an exciting milestone in our partnership with Marriott.   As we finalize construction of the new EDITION Times Square hotel in New York, which we expect to open in 2017, it’s incredibly gratifying to embark on a new project that will bring an exceptional EDITION hotel and truly spectacular EDITION residences to the West Hollywood area of Los Angeles.”

Ian Schrager, CEO of Ian Schrager Company, said, “West Hollywood is a great city and I'm thrilled to be doing a spectacular new EDITION there with my good friends and partners Marriott and The Witkoff group.”

Marriott International, Inc. (NASDAQ: MAR) is a leading global lodging company based in Bethesda, Maryland, USA, with more than 4,100 properties in 79 countries and territories.  Marriott International reported revenues of nearly $13 billion in fiscal year 2013.  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, Moxy Hotels, Courtyard, Fairfield Inn & Suites, SpringHill Suites, Residence Inn, TownePlace Suites, Protea Hotels, Marriott Executive Apartments and Marriott Vacation Club timeshare brand.  There are approximately 330,000 employees at managed and franchised properties and offices.  Marriott has been consistently recognized as a top employer and for its superior business ethics. The company also manages the award-winning guest loyalty program, Marriott Rewards® and The Ritz-Carlton Rewards® program, which together surpass 47 million members.  For more information or reservations, please visit our website at www.marriott.com, and for the latest company news, visit www.marriottnewscenter.com.

The Witkoff Group is a leading full-service real estate investment, operating and 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, development, construction, and asset and property management.  This structure, along with the company’s proven track record, enables Witkoff to successfully execute complex real estate transactions and development projects.  Over the past 18 years, The Witkoff Group has acquired more than 75 properties, with over 18 million square feet, in major central business districts throughout the United States and London.  These properties include residential, hotel, office buildings and retail representing a total cost of in excess of $7 billion.

New Valley LLC is the real estate subsidiary of Vector Group Ltd. (NYSE: VGR), and maintains equity positions in numerous real estate investments, including a broad portfolio of domestic and international projects in the U.S., the Caribbean and Europe.  The investment and development portfolio is comprised of apartments/condominiums and hotels in Manhattan, Queens, Miami Beach, Palm Springs, Maryland, Milan, Bermuda and St. Barthélemy.  New Valley’s President and Chief Executive Officer is Howard M. Lorber, a seasoned real estate executive with a track record of high return investments, who also leads publicly traded Vector Group, overseeing its diversified interests. New Valley, which has executive offices in New York and Miami, also owns 70% of Douglas Elliman, the largest residential real estate brokerage firm in the New York metropolitan area and fourth-largest in the U.S.

NOTE: The anticipated opening dates for and future locations of 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 to the US Securities and Exchange Commission 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.

###

Connect with thomas.marder@marriott.com 

06/02/2014

Marriott International Accelerates Growth in Luxury & Lifestyle Hotels With Plans to Add 200 Hotels Over the Next Three Years

JW-Marriott-VeniceRapid Global Expansion Strategy Leads the Industry.

New York, New York - June 2, 2014 – Marriott International, (NASDAQ: MAR) today announced plans to significantly grow its global portfolio of luxury and lifestyle brands.  Accounting for nearly 25 percent of the company’s system-wide pipeline, Marriott expects to add more than 200 luxury and lifestyle hotel projects over the next several years, reflecting over $15 billion of investment by the company’s owners and franchisees.

 “The luxury and lifestyle category is stronger than ever and we see demand continuing to rise worldwide,” said Arne Sorenson, president and CEO.  “Next generation travelers are poised to comprise more than 60 percent of our business over the next four years, and already represent a broad spectrum of diverse cultures and lifestyles that view travel as an important way to enrich their lives.  Our approach to the luxury and lifestyle segment embraces this trend and is shaping our development strategy.”

“The company’s current luxury and lifestyle portfolio totals 449 hotels across eight brands, each offering its own unique personality and distinctive guest experience.   We have put the power of Marriott behind the growth of iconic brands such as The Ritz-Carlton and JW Marriott Hotels & Resorts, as well as newer brands including EDITION, Autograph Collection and AC Hotels by Marriott. At the same time, the company continues to introduce new brands such as Moxy Hotels, and continues to evolve its Renaissance Hotels brand globally. We are delighted with the success of these tremendous brands, part of our aggressive strategy to lead in the luxury and lifestyle category.”

Also today as part of this segment-wide strategy, Marriott International officially launched its new campaign, #LoveTravels, a multicultural campaign that conveys the company’s commitment to make everyone feel comfortable being who they are, everywhere they travel. The Ritz-Carlton, JW Marriott Hotels & Resorts and Renaissance Hotels are all participating in the ground breaking campaign which features visually powerful images shot by acclaimed photographer Braden Summers that will be displayed as building wraps at five hotels in Washington, D.C., a series of print ads in LGBT media, an online portrait gallery and display ads in cities throughout the U.S.

The breadth of the company’s luxury and lifestyle portfolio is largely represented by the following brands globally:

The Ritz-Carlton opened six properties in 2013, including hotels in Chengdu and Tianjin in China; Aruba; Herzliya, Israel; Almaty, Kazakhstan and Bangalore, India. Most recently, The Ritz-Carlton opened its first hotel in the U.S. since 2010 with the opening of The Ritz-Carlton, Rancho Mirage in Palm Springs, California.  Growth plans call for 15 additional hotels between now and by year-end 2016 including in Nanjing, China; Rabat, Morocco; Cairo, Egypt; Jeddah, Saudi Arabia; Los Cabos, Mexico; Tunis, Tunisia; Haikou, China; Panama City, Panama; Bali, Indonesia and Macao.

Through an acclaimed partnership with legendary hotelier Ian Schrager, EDITION hotels are stunning microcosms of the world’s top cities. EDITION combines the best in service, food, beverage and entertainment which Ian Schrager is known for with the global reach and operational expertise of Marriott International. Following the highly successful debut of The London EDITION last September, the brand is on target to open in Miami Beach this fall and will debut in New York City’s landmark Clock Tower building in the spring of 2015. Future hotels are also planned for Abu Dhabi (2015), Gurgaon, India (2015), Sanya, China (2015), Bangkok (2016) and West Hollywood (2017), as well as the recently announced Times Square EDITION in New York City (2017).

JW Marriott Hotels & Resorts will debut in Italy in early 2015 on the private island of Sacca Sessola, a short boat ride from the stunning city of Venice. In addition, the brand is on schedule to open 23 new hotels in the next two years, growing from 64 to 87 hotels in 29 countries by the end of 2016. Centered in the idea of well-being, JW Marriott Hotels & Resorts offers a collection of partnerships with leading luxury brands in nutrition, culinary, art, culture, and wellness as part of the brand’s commitment to delivering a deeper and more meaningful luxury guest experience at each of its hotels worldwide.

Autograph Collection continues to grow rapidly having reached its 60th hotel milestone in less than three years. Exactly like nothing else and the fastest brand launch in the history of the industry, the unique collection allows independent hotels the opportunity to tap into Marriott International’s powerful sales and marketing platforms including Marriott.com and the award winning Marriott Rewards guest loyalty program. With twenty hotels expected to join this year, the portfolio is an evolving group of passionately independent hotel experiences ranging from iconic properties such as The Algonquin Hotel in New York City to the luxurious 15 room Kessler Canyon hunting lodge in the mountains of Colorado.

Renaissance Denver Downtown City CenterMaking its debut in world class destinations including Santiago, Chile and the south of France, Renaissance Hotels is on track to open nine hotels in 2014. With five hotels launched thus far and four additional locations on schedule to open, the portfolio plans to celebrate more than 160 hotels in 37 countries by year-end.  Renaissance Hotels is designed around making business travel fun again and helping its guests to discover unexpected surprises with every stay, whether it’s listening to live music in the lobbies, taking in a pop-up art exhibit or simply enjoying handcrafted cocktails and locally inspired foods.  It is a sophisticated hotel brand whose mission is to encourage today’s modern business traveler to Live Life to DiscoverSM and make every business trip an opportunity to experience a new story that can be shared.

AC Hotels by Marriott, a brand concept launched in Europe in 2011 as a joint venture with Spanish hotelier Antonio Catalan, plans to open its first hotel in the U.S. this fall at the Cotton Exchange Building in New Orleans, quickly followed by locations in Kansas City and Miami in early 2015. AC Hotels by Marriott currently offers a portfolio of more than 72 hotels in Spain, Italy, Portugal and France. Inspired by the runways and fashion houses of Milan, the brand features simple, clean and crisp lines, marrying sophisticated European style with approachable design for a distinctly urban feel. A sleek and modern approach to design combined with unique elements which embody the character of each destination; growth plans for the brand include more than 30 hotels set to open within the next three years throughout the U.S. and Latin America.

Developed following extensive research and created with the next generation traveler in mind, Moxy Hotels expects to debut in Europe this September at Milan’s Malpensa Airport in Italy. A fresh and innovative lifestyle hotel brand combining stylish design and approachable service at a reasonable price, Moxy Hotels is one of the newest and most exciting brands within the category. The brand is set to open additional locations in key cities throughout Europe by the end of 2016 including Munich, Berlin, and Frankfurt in Germany; Oslo, Norway; London, United Kingdom and Aberdeen, Scotland. Early growth estimates predict the brand could reach 150 hotels within the next ten years.   

*Marriott International’s total luxury and lifestyle portfolio currently includes 449 hotels representing The Ritz-Carlton Hotel Company (89), Bulgari Hotels (3), EDITION (2), JW Marriott Hotels (64), Autograph Collection (60), Renaissance (157), AC Hotels by Marriott (72), and Protea Fire & Ice Hotels (2). The category will officially expand to nine brands following the debut of Moxy Hotels in Milan this fall.

NOTE: This press release contains “forward looking statements" within the meaning of U.S. federal securities laws, including statements about the number, locations and opening dates for new hotels, and similar statements concerning anticipated future events and expectations are not historical facts.  We caution you that these statements are not guarantees of future performance 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.

Marriott International, Inc. (NASDAQ: MAR) is a global leading lodging company based in Bethesda, Maryland, USA, with more than 4,000 properties, and more than 690,000 rooms in 77 countries and territories and reported revenues of nearly $13 billion in fiscal year 2013.  For more than 80 years, the company has been committed to guest satisfaction.  Marriott has been consistently recognized as a top employer and for its superior business ethics.  The company also manages the award-winning guest loyalty program, Marriott Rewards® and The Ritz-Carlton Rewards® program, which together surpass 45 million members.  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 catherine.leitner@marriott.com.

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.
catherine.leitner@marriott.com

Joshua Greenwald – Rubenstein Public Relations
jgreenwald@rubensteinpr.com 

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 felicia.mclemore@marriott.com.

 

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 (Stevie@purplepr.com),
Kate Bell (Kate.bell@purplepr.com), Gabriela Asquith (Gabriela@purplepr.com), 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 felicia.mclemore@marriott.com.