Developers Close on Land Sale for New Stuart Hotel
JULY 2, 2007. Connecticut-based Stuart Lodgings, LLC has purchased a 6-acre site in Stuart, FL to build a 120-room Courtyard by Marriott. The development group is a joint venture between affiliates of Connecticut-based Waterford Group, LLC, Michigan-based Slavik, Inc., and Connecticut developer Glenn Jette. Collectively, the owners bring several decades of professional hotel development experience to the project, with ownership in 20 hotels throughout the United States. Scheduled to open in 2008, the Stuart Courtyard by Marriott will be located at 95 Riverside, with visability from both Interstate 95 and Florida's Turnpike. The hotel development represents the next phase of the nearly 18-acre 95 Riverside planned unit development, which already contains a gas station, McDonalds, and Cracker Barrel. Future development plans will include 150,000 SF of office space, as well as additional restaurant and retail space.
"This is another important step in the development of the brand new Stuart Courtyard by Marriott," commented Rob Winchester, President and COO, Business Development for Waterford. "Based on our review of the market, we believe that a Courtyard by Marriott will be a welcomed alternative for the business and leisure traveler looking for first-class accommodations in the area." Waterford Hotel Group, a national hotel management firm currently operating 26 properties in 8 states, will operate the Stuart Courtyard by Marriott. Waterford will bring extensive management expertise to the new Marriott hotel, with a portfolio that includes 15 Marriott-flagged properties, seven of which are Courtyard by Marriott brands.
Marriott International, Inc. (NASDAQ: MAR) is a global leading lodging company based in Bethesda,Maryland, USA, with more than 4,200 properties in 80 countries and territories. Marriott International reported revenues of nearly $14 billion in fiscal year 2014. The company operates and franchises hotels and licenses vacation ownership resorts under 19 brands, including: The Ritz-Carlton®, BVlgari®, EDITION®, JW Marriott®, Autograph Collection® Hotels, Renaissance® Hotels, Marriott Hotels®, Delta Hotels and Resorts®, Marriott Executive Apartments®, Marriott Vacation Club®, Gaylord Hotels®, AC Hotels by Marriott®, Courtyard®, Residence Inn®, SpringHill Suites®, Fairfield Inn & Suites®, TownePlace Suites®, Protea Hotels® and MoxyHotels®. Marriott has been consistently recognized as a top employer and for its superior business ethics. The company also manages the award-winning guest loyalty program, Marriott Rewards® and The Ritz-Carlton Rewards® program, which together surpass 50 million members. For more information or reservations, please visit our website at 
