Marriott to Operate Grosvenor House

Marriott International, Inc. announced today that Marriott will operate
the Grosvenor House hotel in London`s Mayfair district and the Shelbourne
hotel on St. Stephen`s Green in Dublin, beginning Jan. 31, 2004. Prior to
that time Le Meridien will continue to run the hotels under a short-term
transitional arrangement.
The Royal Bank of Scotland plc (RBS), the owner of the two hotels, plans
to complete substantial renovations and improvements to both over the next
few years, including guest rooms, public areas and infrastructure.
Following the renovations and improvements, the Grosvenor House will
become a 498-room JW Marriott hotel and the Shelbourne a 276-room
Renaissance hotel. Marriott will operate both hotels under long-term
leases. No other terms of the agreements were disclosed.

James M. Sullivan, Marriott International`s executive vice president -
lodging development, said, “We are delighted to conclude an agreement that
will bring two legendary properties and prime conference space into the
Marriott International system, in two of the most coveted and prestigious
locations in Europe.”
MARRIOTT INTERNATIONAL, INC. is a leading worldwide hospitality company
with over 2,600 lodging properties across 14 lodging and 4 timeshare
brands in the United States and 68 other countries and territories. 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(R). For more information
or reservations, please visit the web site at