Marriott Announces Intention To Remain In Montgomery County, Maryland After 2004

Marriott International, Inc. (MAR/NYSE), one of the world`s leading hospitality companies, intends to remain in Montgomery County, Maryland following the expiration of the lease at its current headquarters site in Bethesda in 2004, the company announced today.

J.W. Marriott, Jr., Marriott International chairman and chief executive officer, said, “We are pleased to announce our intention to remain in Maryland and in Montgomery County, our home for 45 years. Over the past six months, we have held serious and productive discussions with officials of both the State and Montgomery County, culminating in today`s announcement.
“Our decision represents more than two years of study and hard work. We had to weigh every factor, being fair to our shareholders and employees. We know that the State and County had similar considerations,” he said.

“I want to personally thank Gov. Parris Glendening and County Executive Doug Duncan for their strong leadership,” Mr. Marriott said, “as well as acknowledge the great support of Lt. Gov. Kathleen Kennedy Townsend. I also want to recognize the major contributions of Maryland Economic Development Secretary Mike Lewin and Montgomery County Economic Development Director David Edgerley and their able staffs.”

Mr. Marriott also said that the company looks forward to working with the several legislative committees involved with the mutually beneficial agreement.

Governor Glendening said, “We could not be more pleased that Marriott will expand right here in Maryland. For the last four decades, Marriott has been a mainstay in Bethesda; it`s been a model corporate citizen and a great member of the community. We were, and still are, proud to call Marriott our own.”


County Executive Duncan said, “Marriott has been one of the crown jewels in Montgomery County`s corporate community for many years and we are delighted that they will be staying and continuing to grow in our County.”

Marriott continues discussions to determine a final headquarters site within the County, which could include one of the following locations: the Tower Oaks tract, east of I-270 between the Montrose Road and Falls Road interchanges in Rockville; Rock Spring Park, at the intersection of Rock Spring Drive and Fernwood Road in Bethesda; and the company`s current headquarters site in Bethesda.

Said Mr. Marriott, “Maryland and Montgomery County have truly made clear their commitment to being friendly to economic growth and stable, productive jobs. For our part we reaffirm our dedication to play an active, positive role in the life of our community, which includes endorsing Montgomery County and Maryland as superb places to do business, to work, and to live.”