Marriott International (NYSE:MAR) will manage a 268-room Courtyard by Marriott hotel that is currently under construction in Berlin, under an agreement reached with Krausenstrasse oHG, a partnership of Bayerische Beamten Lebensversicherung a.G. und Ideal Lebensversischerungen a.G. It will be the third moderately-priced Courtyard by Marriott property in the greater Berlin metropolitan area.
Scheduled to open in early 2005, the property is located in the center of Berlin south of Leipzigstrasse, within walking distance of the Gendarmenmarkt, the former East Berlin`s main square. Nearby is the Brandenburg Gate and the Reichstag, Germany`s Parliament Building. The hotel is part of a 23,500 square meter, mixed-use development that includes a separate fitness studio, 24 unfurnished rental apartments, retail space and a 135-space underground parking garage. Within close proximity is the U2 underground station that provides access to Potsdamer Platz, Alexanderplatz and Berlin`s trade fair grounds.
“We are delighted by the growth of our portfolio in Berlin,” said Arne Sorenson, president of Continental Europe and chief financial officer of Marriott International. “This is a dynamic city and, despite nagging economic pressures, we are confident that this hotel will be popular with business and leisure travelers.”
“In Marriott, we have found a strong partner for this prominent location,” said Erwin Flieger, chief executive officer of Bayerische Beamten Lebensversicherung a.G., the majority owner of Krausenstrasse oHG. “With its sophisticated architecture and the know-how of one of the most highly regarded hotel chains in the world, this hotel will soon become an address of renown in the heart of Berlin.”
Courtyard by Marriott hotels are aimed at business and leisure travelers who seek moderately priced accommodations offering consistent quality. Its spacious guest rooms features a comfortable sitting area, large work desk, and two telephones with data ports.
For dining and entertainment, the Courtyard by Marriott Berlin Mitte will have a casual restaurant and bar as well as a lobby lounge. Other amenities will include a fitness room, a business center, 18-hour room service offering a limited menu, parking spaces for 100 automobiles and 6,830 square feet of meeting space for social events and small conferences.
Early next year, the 379-room Berlin Marriott Hotel will open at Potsdamer Platz in Berlin. Other Courtyard properties in Berlin are the 190-room Courtyard Berlin Koepenick and the 198-room Courtyard Berlin Teltow. Courtyard recently reached its 600-hotel milestone, making it one of the largest hotel brands in the world.
MARRIOTT INTERNATIONAL, INC. (NYSE:MAR) is a leading worldwide hospitality company with over 2,600 lodging properties in the United States and 68 other 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 Ramada International 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., has approximately 128,000 employees, and was ranked as the lodging industry`s most admired company and one of the best places to work for by FORTUNE®. For more information or reservations, please visit the web site at www.marriott.com.