Marriott Vacation Club International (MVCI), the vacation ownership division of Marriott International, Inc. (NYSE: MAR) celebrated today the grand opening of two resorts located in South Lake Tahoe, Calif. Marriott Grand Residence Club, Lake Tahoe, offering the benefits of second home ownership with the amenities of a fine resort, and Marriott’s Timber Lodge, featuring weekly intervals, were the centerpiece of a festive ceremony this morning as local community leaders, business partners and redevelopment officials were thanked for their support and commitment to excellence.

The two resorts anchor a new pedestrian-friendly village offering a complete guest experience within steps of shopping, dining, ice skating rink, movie theater, world-class Nevada gaming and entertainment, as well as direct access to Heavenly Ski Resort via the high-speed gondola positioned at the center of the complex. Additional outdoor recreation activities (lake and beach access, hiking, fishing and boating) are nearby.

“Our goal was to create two resorts that blended with the harmony of the surrounding environment while providing flexible, vacation and second home ownership options,” said Stephen P. Weisz, president of Marriott Vacation Club International. “Lake Tahoe is a popular, multi-season destination with a variety of activities for travelers. And we are pleased to provide two superb resort choices - especially Marriott Grand Residence Club as it represents the first property of the brand.”

Community leaders were present to celebrate the grand opening representing years of hard work for many. They helped coordinate the decade long process which included the retirement of aging buildings and extensive environmental planning to minimize impact on the surrounding ecology.

“With the addition of these two gorgeous resorts within the Heavenly Village, the downtown area of South Lake Tahoe is realizing the dream of city planners. It creates a central village complex with retail, dining and accommodations offering both residents and visitors alike a fun and dynamic gathering place,” said Judy Brown, mayor of South Lake Tahoe. “Few resort communities can match the amenities available here, and we expect this project to have a long term impact on the growth of the local economy.”

The ceremony included remarks from: William Shaw, president and chief operating officer at Marriott International; Mr. Weisz, president of Marriott Vacation Club International; Lew Feldman, the developer’s counsel and long-time redevelopment advocate; Richard Rizzo, chairman of Perini Building Company; Blaise Carrig, chief operating officer for Heavenly Ski Resort; and Ms. Brown, South Lake Tahoe mayor.

About Marriott Grand Residence Club, Lake Tahoe
Marriott Grand Residence Club, Lake Tahoe represents Marriott’s newest development in second home ownership. It offers a unique quarter ownership option with spacious residences ranging in price from $125,000 to $650,000 for studio, one-, two-, and three-bedrooms and penthouse floor plans. Owners have flexible usage options in utilizing their allotted weeks, including reciprocity arrangements with other Marriott Grand Residence Club properties (currently, there is a second location in London) and an on-site rental management service provided by Marriott. Furthermore, owners may choose to trade their weeks for Marriott Rewards points or exchange through Interval International’s network of resorts worldwide.

Resort amenities include:
- Shopping, dining and a future cineplex in the adjoining Heavenly Village
- Steps from Heavenly Ski Resort’s Gondola
- Year-round outdoor swimming pool and two spas
- Concierge assistance
- Private ski lockers
- Owner’s club and library
- Health club with steam room and spa services
- Daily maid and laundry service
- Heated, underground valet parking

About Marriott’s Timber Lodge: Marriott’s Timber Lodge is an upscale vacation ownership resort offering one-week intervals. Villa pricing ranges from $11,500 to $42,900 per week for one-bedroom/one-bath and two-bedroom/two-bath floor plans based on seasonality. The 137 villas (265 at buildout) range from 835 to 1,185 square feet of living space featuring a fully equipped kitchen, living and dining areas, fireplace, multiple televisions and a VCR, washer and dryer, as well as a private balcony in some villas. Marriott’s Timber Lodge features a flexible usage program with options such as priority week(s) exchange within the MVCI portfolio, trading their week(s) for Marriott Rewards points or exchanging within Interval International’s system of resorts.

Resort amenities include:
- Shopping, dining and future cineplex in the adjoining village
- Steps to the Heavenly Ski Resort’s Gondola
- Year-round courtyard pool and whirlpool spas
- Children’s Activity Center
- Fitness center and steam rooms
- Self-service ski lockers
- The MarketPlace convenience store and deli
- Heated, underground valet parking

Sales at Marriott’s Timber Lodge and Marriott Grand Residence began in June 2001. Marriott Grand Residence Club sales started soon after the acquisition from American Skiing Company (the resort was in sales two years prior under the name Grand Summit Resort Hotel). Both properties are available for nightly rentals on a space available basis. The properties began welcoming owners and guests on November 1.

Marriott Vacation Club International is the recognized leader in vacation and fractional ownership worldwide with over 215,000 owners and 6,000 units around the globe. For more information regarding vacation ownership at Marriott’s Timber Lodge, please call (866) 300-3032 or visit www.marriottvacationclub.com. For second home ownership with Marriott Grand Residence Club, please call (866) 20-GRAND (866-204-7263) or visit wwwgrandresidenceclub.com. Nightly rentals at either property can be reserved by calling (800) VILLAS-9 (800-845-5279) or visiting www.marriottvillarentals.com.

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