Property to Undergo Extensive Refurbishment Program; To Become a Marriott-Branded Hotel in Late 2007
Dubai ? March 8, 2006 ? Marriott International, Inc. (NYSE:MAR) announced today that it has acquired the 782-room Sofitel Paris Rive Gauche Hotel from Accor. Following an extensive refurbishment program, the hotel will be re-branded as a 757-room Marriott hotel in late 2007. In the interim, the property will be operated by Marriott as the Rive Gauche Saint-Jacques Hotel & Conference Center, Paris.
The hotel is located at 17, Boulevard Saint Jacques in a residential area on the famous Left Bank in the 14th Arrondissement-about a 15 minute walk from Montparnasse. Closeby is the Metro Station Saint-Jacques, serving the Champs Elysees, Eiffel Tower and Montparnasse.
Built in 1972, and boasting 48,995 square feet of conference space, it is the largest conference hotel in Paris. The space configuration is comprised of a 16,882 square-foot ballroom which includes a pre-function foyer atrium space of 6,779 square feet. The balance of the space includes a 180-seat auditorium and 41 rooms in varying sizes.
"We are delighted with this acquisition," said Arne Sorenson, Marriott's chief financial officer and president of Continental European Lodging. "We have long wanted to have a major conference presence in Paris in order to round out our existing hotel portfolio in the city and also to better serve our corporate and incentive group customers. The Rive Gauche Hotel fits our strategic development plan perfectly. With our experience for successfully operating conference hotels, we are confident that, following its refurbishment, this property will achieve stellar results."
Refurbishment plans call for a total redesign of all guest rooms and lobby; the addition of several suites-bringing the total to 51 suites, a three-story executive level and lounge; a complete reconfiguration of the hotel's food and beverage areas and an extension of the health club.
Current amenities offered by the hotel include several lounges and restaurants for dining and entertainment. Other amenities are a business center, 24-hour room service, high-speed and WIFI Internet access, a car hire desk, concierge service, parking and a beauty salon.
Marriott International is presently represented in Paris by five hotels spanning three lodging brands. These include the 192-room Marriott Paris Champs Elysees, the 97-room Renaissance Paris Plaza Vendome, the 327-room Renaissance Paris La Defense, the 242-room Courtyard by Marriott Neuilly and the 300-room Courtyard by Marriott Roissy at Charles de Gaulle International Airport. Scheduled to open later this year is the 150-room Courtyard by Marriott Paris Colombes.
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MARRIOTT INTERNATIONAL, INC. (NYSE:MAR) is a leading lodging company with over 2,700 lodging properties in 67 countries and territories. Marriott International operates and franchises hotels under the Marriott, JW Marriott, The Ritz-Carlton, Renaissance, Residence Inn, Courtyard, TownePlace Suites, Fairfield Inn, SpringHill Suites and Bulgari brand names; develops and operates vacation ownership resorts under the Marriott Vacation Club International, Horizons, The Ritz-Carlton Club and Grand Residences by Marriott brands; operates Marriott Executive Apartments; provides furnished corporate housing through its Marriott ExecuStay division; and operates conference centers. Marriott is also in the synthetic fuel business. The company is headquartered in Washington, D.C., and has approximately 143,000 employees. In fiscal year 2005, Marriott International reported sales from continuing operations of $11.6 billion. For more information or reservations, please visit our web site at www.marriott.com.
CONTACT:
Elizabeth Sen
Promoseven Weber Shandwick
T: 00 9714 3210077
elizabeth.sen@promoseven.com
Lynette Almeida
Promoseven Weber Shandwick
T: 00 9714 3210077
lynette.almeida@promoseven.com
© Press Release 2006
