Finvarb Breaking Ground on Residence Inn in Phoenix
Campus of the Mayo Clinic
BETHESDA, MD, October 25, 2007. Marriott International, Inc. (NYSE: MAR) and the Hispanic-owned Finvarb Group announced today that they are breaking ground on a 208-room Residence Inn by Marriott hotel in Phoenix, Ariz., on the campus of the Mayo Clinic. This is Finvarb's eighth Marriott-branded hotel. The agreement brings Marriott closer to its goal of reaching 500 minority- and women-owned hotels by 2010. The hotel will be located at 5777 E. Mayo Blvd. and is expected to open in early 2009.
"We are very excited to expand our portfolio of Marriott hotels," said Robert Finvarb, founder and president. "And, we're equally thrilled to share a campus with such a prestigious institution as the Mayo Clinic."
"We are pleased to welcome Marriott to our Phoenix campus. This will be a top-rated hotel that will provide a service and convenience to our patients," said Victor F. Trastek, M.D., CEO, Mayo Clinic in Arizona.
Earlier this year, the Miami-based Finvarb Group made history as the first Hispanic-majority hotel owner in Washington, D.C., when it broke ground on a Courtyard by Marriott in the new NoMa (North of Massachusetts Avenue) Business Improvement District.
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 
