Marriott Unveils Design of the Future
OREM, UT, June 6, 2005. Marriott International's Residence Inn brand, which pioneered the extended-stay category, today announced its "Gen7" suite, a new design that will re-define extended-stay lodging. A bold statement in 21st century residential style, the new suite showcases contemporary decor and finishes that reflect the comforts and luxuries of a modern American home.
Commanding a 30 percent REVPAR premium over the competition, Residence Inn by Marriott has dominated the extended-stay category for 30 years by reinventing itself as customer needs have changed and today remains one of the lodging industry's most powerful brands with $1.7 billion in sales. Residence Inn also leads the segment with a 19 percent occupancy premium and a 10 percent rate premium over the competition. Representing the new urban emphasis of the brand, later this year, the 500th Residence Inn will open in the heart of Manhattan - a 43-story mixed-use development on Avenue of the Americas overlooking Bryant Park. Residence Inn expects to add 30 hotels to its system this year and is on track to add 25 to 30 hotels each year from 2006 to 2008. Laura Bates, senior vice president, extended-stay brand management, Marriott International, said, "Gen7 will re-define the extended-stay experience and we're delighted to report that the response from our guests, owners and franchisees has been overwhelmingly positive."
Extended-stay guests who evaluated the new design gave it high marks for being stylish, sophisticated, distinctive and innovative. The suite was rated "good" or "excellent" by 98 percent of guests, who also indicated they would be willing, on average, to pay 16 percent more for the experience.
The new Gen7 suite features "zones" to meet the living needs of the extended-stay guest -- cooking, dining, working, relaxing and sleeping. Incorporating elements of a modern residence, the room features stainless steel appliances and granite countertops in the kitchen; upgraded bedding that is softer and more luxurious; a comfortable and multi-functional living area, with recliner and ottoman, and a striking red chaise lounge that converts into a bed.
"We invested in our portfolio of more than 25 Residence Inns because it defines and sets the standards of the extended-stay category -- no other brand comes close," said Bruce White, chairman and CEO of White Lodging Services, a major Residence Inn franchisor. "Now with their newly designed room, we can deliver an even more superior guest experience that will enable us to attract new customers and grow market share."
"Residence Inn is one of Marriott's strongest performing brands with tremendous growth potential," added Bates. "Extended-stay product represents just 8 percent of the lodging market, while customer demand is upwards of 30 percent. Outstanding development opportunities exist in traditional locations, as well as in urban markets and with mixed-use developments."
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 
