Marriott International and Granite Broadway Development to Develop New York City’s Tallest Hotel

68-story property to house Courtyard and Residence Inn hotels

Marriott International, Inc. and ownership group Granite Broadway Development announced today a signed franchise agreement to develop the Courtyard and Residence Inn Manhattan/Central Park, a soaring, new 68-story property housing two distinctly different hotels – the 378-room Courtyard by Marriott hotel and the 261-room Residence Inn by Marriott hotel -- at 1717 Broadway (at 54th Street). The multi-million dollar project will open in late 2013 and be managed by Interstate Hotels and Resorts.

Designed by architect Nobutaka Ashihara, the building will rise 752 feet, nine inches high, making it the tallest stand-alone hotel building (without office or residential space) in New York. The Courtyard hotel will provide a refreshing environment for business and leisure travelers, while the Residence Inn will offer all-suite accommodation for longer stays. The property will also incorporate leased retail and restaurant space.

The hotels will share a main entrance and arrival lobby on 54th Street, with public areas for the Residence Inn on the 3rd floor and for the Courtyard on the 4th floor. Guest rooms for the Courtyard will be located on floors 6 through 32 and for Residence Inn on floors 36 through 64, with separate elevator banks to serve the guestrooms and public areas for each brand.

In addition to ground floor retail space, a leased restaurant will occupy the 2nd floor, and a 5th floor lounge and terrace with outdoor seating will have a great view overlooking Broadway. Both hotels will share a fitness facility on the 34th floor.

CY-RIBM Exterior “We are thrilled that this development is becoming a reality and will feature two of our strongest brands – Courtyard and Residence Inn – at such a premier location,” said David Marriott, chief operations officers -- Eastern Region, The Americas. “We could not be happier with our partnership with Granite Broadway Development and with Interstate Hotels and Resorts that will manage both hotels.”

“This project is a long time coming, and we believe that these two brands, along with the leased retail shops and restaurant, will offer needed services in this part of Manhattan,” said Ronnie Gross, vice president of Granite Broadway Development. “The building will be absolutely stunning, and the hotels are the right lodging brands for this wonderful location.”

The 378-room Courtyard by Marriott will offer the brand’s signature “refreshing business” lobby, featuring bright contemporary design, innovative technology and flexible space. The redefined area allows guests more control and choice over their stay, with services and amenities that create a healthy balance between working and relaxing. A signature element of the new lobby is the exclusive GoBoard® technology, a 55-inch LCD interactive touch screen packed with local information, maps, weather, and news, business and sports headlines.

The leader in the extended stay category, Residence Inn offers guests a unique personalized experience that helps them thrive while on the road on long stays. The new 261-room Residence Inn by Marriott will feature suites with kitchens, providing zones for travelers to spread out and maintain their routines while away from home. Services such as daily complimentary full breakfast, free high speed internet, grocery delivery, laundry facilities and weekly manager social hours all add to Residence Inn’s promise of making guests feel cared for and comfortable.

Marriott International currently has 33 open properties across nine brands including Autograph Collection, Courtyard by Marriott, Fairfield Inn & Suites, Marriott ExecuStay, Marriott Hotels & Resorts, Renaissance Hotels, Residence Inn by Marriott, Ritz-Carlton, and Ritz-Carlton Residences.

Courtyard by Marriott offers a refreshing environment that helps guests stay connected, productive and balanced. Intuitive services and design accommodate guests’ needs for choice and control. With more than 900 locations in 35 countries, Courtyard by Marriott hotels participate in the award winning Marriott Rewards frequent travel program that allows members to earn hotel points or airline miles for every dollar spent during each stay. For more information go to www.courtyard.com.

Residence Inn by Marriott is an upscale extended stay brand that helps guests to thrive on long stays. With lower rates for longer stays, spacious suites with full kitchens that offer the comforts of the modern home, and associates who provide intuitive service with a unique touch, Residence Inn is ideally suited for travelers staying for a week or more. With more than 600 properties in North and Central America and the Caribbean, Residence Inn is Marriott’s third largest lodging brand with more than 100 hotels on the way. Residence Inn participates in the company’s award-winning Marriott Rewards® program, which enables members to earn their choice of points toward free vacations or frequent flyer mileage in their preferred airline program for dollars spent at more than 3,100 Marriott hotels. For more information visit www.residenceinn.com.

Visit Marriott International, Inc. (NYSE: MAR) for company information. For more information or reservations, please visit our website at www.marriott.com, and for the latest company news, visit www.marriottnewscenter.com.