Marriott Increases Minority Franchisee Ownership

Marriott International, Inc. (NYSE: MAR) has increased the number of its minority owners with Integrated Capital’s purchase of the newly refurbished Residence Inn Columbia in Maryland. Integrated Capital is an African-American privately owned real estate equity group, specializing in hospitality, whose principals have been involved in more than $1 billion in hospitality acquisitions.

“We’re proud to have such an experienced firm become one of our newest hotel owners,” said J.W. Marriott, Jr., chairman and chief executive officer of Marriott International. “This represents progress for Marriott in many ways. It also shows that our outreach efforts to increase minority ownership are working.”

Marriott recently announced expanded goals for its diversity outreach initiatives, including pledging to double the number of its hotels owned by minority owners and franchisees in five years. Other recent successes include the groundbreaking earlier this year of a Courtyard by Marriott hotel in Harlem, N.Y., with significant minority ownership, and the opening of the Residence Inn by Marriott Capitol in Washington, D.C., which is co-owned by four Native-American tribes.

“Our firm has been in the real estate and hospitality industry for more than 10 years,” said Ken Fearn, managing partner, Integrated Capital. “The process of working with Marriott has been smooth, and we’re excited about the location. The Columbia, Md., area is experiencing housing and business growth, making it an excellent place to open a business.”

Marriott, which has established programs to increase the number of its hotels owned by minority and women franchisees, recently hosted an Education Summit to provide aspiring owners with information about how hotels are financed and operated.

“Marriott is always looking for new ways to attract diverse owners, and this recent purchase by Integrated Capital shows that we’ve been successful,” said Norman K. Jenkins, senior vice president of North American Lodging Development for Marriott and host of the Education Summit.

The Columbia, Md., property is one of the 100 Residence Inn by Marriott hotels to showcase the lodging brand’s new look, with modern work stations, expanded breakfast bars, brighter color schemes and completely updated kitchens and bathrooms. The site, which has three floors, 108 rooms and a meeting room, is 15 miles from Baltimore and Washington, D.C.

Celebrating its 30th year as an industry leader in extended-stay lodging, Residence Inn has more than 460 hotels in 46 states, the District of Columbia, Canada and Mexico. For more information or reservations, contact the Residence Inn Columbia directly at 410-997-7200, the Residence Inn toll-free number at 800-331-3131, or visit the web site at http://www.residenceinn.com.

MARRIOTT INTERNATIONAL, INC. (NYSE: MAR) is a leading lodging company with more than 2,600 lodging properties in the United States and 65 other countries and territories. Marriott International operates and franchises hotels under the Marriott, JW Marriott, The Ritz-Carlton, Renaissance, Bulgari, Residence Inn, Courtyard, TownePlace Suites, Fairfield Inn and SpringHill Suites brand names; develops and operates vacation ownership resorts under the Marriott Vacation Club International, Horizons, The Ritz Carlton Club and Marriott Grand Residence Club brands; operates Marriott Executive Apartments; provides furnished corporate housing through its Marriott ExecuStay division; and operates conference centers. The company is headquartered in Washington, D.C., and has approximately 133,000 employees. It is ranked as the lodging industry’s most admired company and one of the best places to work for by Fortune(R) magazine. In fiscal year 2004, Marriott International reported sales from continuing operations of $10 billion. For more information or reservations, please visit our web site at http://www.marriott.com.

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