Marriott Welcomes RLJ Development as Major Owner
WASHINGTON, DC, February 24, 2006. RLJ Development, LLC, the largest African-American hotel investment company in the U.S., headquartered in Bethesda, Md., will become one of Marriott International, Inc.'s largest hotel owners through their announced, definitive agreement to acquire 100 hotels from White Lodging Services Corporation -- of which 90 are Marriott International hotels. The brands represented will include 31 Courtyard hotels, nine SpringHill Suites, 30 Residence Inns, 13 Fairfield Inn and Suites, as well as five Marriott and two Renaissance hotels.
"We are pleased to be acquiring these high-performing, Marriott International-branded hotels and to become one of Marriott International's largest franchisees upon closing the White Lodging deal," said Robert L. Johnson, who controls RLJ Development and is the founder of Black Entertainment Television. "We look forward to a long and mutually prosperous partnership."
J.W. Marriott, Jr., Marriott International's chairman and chief executive officer, said, "We are delighted that RLJ Development has expanded their close association with our company. Under Bob Johnson's leadership, we look forward to an increasingly strong relationship with RLJ. With White Lodging continuing to operate the hotels, we are confident that we have a great team in place to generate value for our company's brands."
Thomas J. Baltimore, Jr., co-founder and president of RLJ Development, added, "Our relationship with Marriott has never been stronger, and we look toward significant growth prospects at these leading upscale hotels going forward."
Norman K. Jenkins, Marriott International's senior vice president, North American lodging, said, "Not only are we strengthening our ties to a premier franchise company in our industry, but we are also deepening our absolute commitment to diversity in hotel ownership."
Jenkins noted that, as part of the company's Diversity Ownership Initiative announced last year, Marriott International recently invested $20 million in the RLJ Urban Lodging Fund, a fund that facilitates the development of hotels in urban locations.
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 
