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The Capital Partners Ltd. Investing $40 million in Two Renaissance Hotels in Aktau and Atyrau, Kazakhstan

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Washington , DC  -  22 September 2004 - Marriott International (NYSE:MAR) will manage two new Renaissance-branded properties in Kazakhstan in 2005 under agreements reached with CP Hotels Aktau LLC and CP Hotels Atyrau LLC, both of which are subsidiaries of Capital Partners LLC.  Currently under construction, the hotels are the:
  • 120-room Renaissance Aktau Hotel
  • 202-room Renaissance Atyrau Hotel
When opened, the hotels will be the first Marriott International properties in Kazakhstan.

Aktau is located in southwestern Kazakhstan on the Caspian Sea and is the country’s largest port facility. Atyrau is located at the mouth of the Ural River on the north coast of the Caspian Sea in western Kazakhstan. Once a regional fish processing center, Atyrau is now the country’s oil capital.

“We are thrilled by the continued expansion of our Renaissance hotel brand through the Commonwealth of Independent States (CIS) and to soon have a presence in Kazakhstan. It’s been wonderful to work with Capital Partners on these projects,” said Karl Kilburg, senior vice president for Continental Europe for Marriott International. “Kazakhstan has a terrific economic and development outlook and we are very pleased that both of these sensational hotels will be part of this growth.”

Erdal Seyhan, director of developments of the Capital Partners LLC, that has invested $40 million into the development of the two Renaissance hotels in Aktau and Atyrau, shared his feeling of pride and satisfaction with the development of the hotel business in western Kazakhstan in line with international standards in terms of architecture, quality of service and guest’s accommodation.

He noted, “there are no doubts in the professionalism of the Marriott International personnel who will provide higher level of services and an outstanding atmosphere to the guests visiting Aktau an Atyrau. New Renaissance hotels, which will be completed by 2005, will make the cities look much more beautiful. They are in line with recognized principles of architectural solutions that transform the look of a city’s public areas, inspiring citizens and bringing improvement to the quality of people’s life.”

Also Mr. Sayhan expressed his great personal appreciation to the Akimats and Akims of Atyrau and Mangystau oblasts for their support, belief and optimism towards this project.”

Renaissance Aktau Hotel

Expected to be highly popular with hotel guests and local residents, the Renaissance Aktau Hotel will overlook the Caspian Sea in Microdistrict 9 within walking distance of the beach. Aktau’s airport which is served currently by Air Kazakhstan, Air Astana and Air Azerbaijan is located approximately a 45-minute drive away. The site is close to the commercial heart of Aktau and its port facilities.

Accommodations at the Renaissance Aktau Hotel will include 20 executive level guest rooms and an executive lounge.  For dining and entertainment, the hotel will have a casual restaurant including a small bar area and seasonal outdoor terrace seating; a lobby lounge and a nightclub. Other amenities will include a health club featuring a fitness room, juice bar and separate sauna/whirlpool and lockers for men and women; a business center; 24-hour room service; in-room mini-bar; a swimming pool; on site parking and a casino. 

For conferences and social events, the Renaissance Aktau Hotel will have 4,265-square feet of flexible meeting space including a main function room measuring 2,765-square feet that will be divisible into four sections; and two board rooms offering a combined total of 1,500-square feet.

Renaissance Atyrau Hotel

The hotel will be situated in the commercial heart of the city on Satpaeva Street, the main artery of the European part of Atyrau, in an area that has been targeted for numerous luxury developments including the Tengiz Chevroil regional headquarters and its expatriate housing compound.  Atyrau International Airport is located 15 minutes away and is served by a number of regional airlines. 

Accommodations at the Renaissance Atyrau Hotel will include 54 executive level rooms and an executive lounge. For dining and entertainment, the hotel will have a casual restaurant, a specialty restaurant, a lobby lounge and a Champions Sports Bar. Other amenities will include a business center; 24-hour room service; in-room mini-bar; on site parking; retail shops; a casino; a health club with a juice bar and separate sauna, whirlpool and sauna for men and women. The hotel will also have an indoor/outdoor swimming pool.

For conferences and social events, the hotel will have 6,294-square feet of space include a 3,067-square foot main function room, a 1,937-square foot meeting room that can be divided into two sections and two board rooms offering a combined total of 1,290-square feet.

The Marriott International lodging portfolio is represented in the CIS and Caucasus regions with four Marriott and Renaissance branded hotels in Moscow; a Renaissance hotel in St. Petersburg and in Samara; a Marriott hotel in Yerevan; and Marriott and Courtyard by Marriott hotels in Tbilisi. 

The Capital Partners Ltd. (CP) was established in 2001 and is a pioneer of the real estate business in Kazakhstan. Till now, Capital Partners has accomplished a number of realty projects aimed at development and management of the premises at high international standards. It includes construction of new as well as renovation of derelict properties in the sphere of office premises, residential segments, sport complexes, entertainment centers and hotels. The company’s invest in realty projects exceeds $600 million USD both domestically and internationally.

MARRIOTT INTERNATIONAL, INC. (NYSE:MAR) is a leading worldwide hospitality company with nearly 2,800 lodging properties in the United States and 69 other countries and territories. 


 
Contact:
June Farrell
(301) 380-7796
june.farrell@marriott.com
 www.marriott.com
Also See: $350 Million in Hotel & Tourism Projects in Eurasia Creates Opportunities for U.S. Companies / May 2002
Several Top Executives at Marriott International, Inc. Assume Additional Responsibilities; Provides Leaders Opportunity to Broaden their Experience / Jan 2003


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