Marriott To Manage New Hotel In Chongqing, China

Marriott International (NYSE/MAR) has been named to manage a 531-room hotel that is part of a mixed-use development in Chongqing, in southwest China. It is expected to open in mid-1999.

Owned by Chongqing AoKe International Hotel Co., Ltd., a wholly owned subsidiary of AoKe International Real Estate Development Co., Ltd., the property will be called the Chongqing Marriott Hotel. It will be the fifth Marriott-branded property in China and will be located at the southwest corner of Qing Niam Road and Min Sheng Road in downtown Chongqing, approximately a 30-minute drive from the Chongqing Jiangbei International Airport. In addition to the hotel, the development includes 12,400 square meters of office space and underground parking for about 200 automobiles.

Chongqing is an important manufacturing center in China, especially in the automotive, metallurgy and petrochemical sectors. Major tourist attractions in the area include the Three Gorges of the Yangtze River, the Diaoyu Castle and the Jinyunshan Nature Reserve.

We are very pleased with the growth of our hotel portfolio in China and the fact that we will be represented in Chongqing with this fine property, said Ed Fuller, president and managing director of Marriott`s international operations. Chongqing is poised for substantial economic development and we are confident that the hospitality services offered by this hotel will be welcomed especially by business travelers and investors who will be participating in the growth of the community.

Speaking for Chongqing AoKe International Hotel Co., Chung Chun, chairman, said: Marriott is one of the world`s best known and most experienced hotel management companies. I am very confident that Marriott will be able to deliver high quality service and strong financial performance. Having Marriott involved in our hotel porject is a significant step in accelerating the developmentof the hotel and travel industrfy in Chongqing. We believe we have made the right choice and that the cooperation between our company and Marriott will be successful.