Operate the Marietta Conference Center & Resort
|DALLAS and MARIETTA, Ga., May 31, 2005 - Remington Hotel Corporation,
the premier service provider to the hospitality industry(TM), today announced
it has successfully concluded long term lease negotiations with the city
of Marietta for the 200-room Marietta Conference Center & Resort in
Marietta, Georgia. Remington executed a long term operating lease with
the City of Marietta that includes option periods for a total of 18 years.
Mark Sharkey, Chief Operating Officer of Remington, "The Marietta Conference Center and Resort is one of the South's premier resorts and conference centers, and we look forward to a great relationship with the City of Marietta for many years to come. We are very excited about our stated, partnership with the City of Marietta and the completion of a new operating lease for the Marietta Conference Center & Resort. As a part of the lease, there will be an additional $1 million capital infusion into the facility in order to enhance our guest areas. We expect the Marietta Conference Center & Resort to remain the preferred choice for meetings in the region. Corporate and leisure travel is beginning to return nationwide, and we expect to leverage the quality and amenities of this facility to increase our group bookings, which in turn should lead to a positive impact on the Marietta economy."
Located on Powder Springs Street one-half mile from historic Marietta Square and conveniently located only 20 minutes from downtown Atlanta, the conference center boasts 20,000 square feet of meeting space with 19 dedicated conference rooms, including a 6,500-square-foot ballroom. Each room features state-of-the-art amenities designed to maximize meeting productivity and exceed all IACC (International Association of Conference Centers) requirements. The resort features an 18-hole par 71 championship golf course and 200 magnificently appointed rooms that offer traditional furnishings with a rich mahogany finish that are reminiscent of the style and elegance of 1850's Georgia.
Bill Dunaway, Mayor of Marietta, stated, "The Marietta Conference Center & Resort is an important asset for the City of Marietta and this decision involved considerable due diligence and substantial negotiation. Remington is one of the most experienced and professional resort and hotel operators in the country. Their partnership with us and commitment to attracting first-class meetings and tourism to Marietta validates the trust we have placed in them. I believe the new operating lease is an economic 'win-win' for Marietta."
Bill Bruton, Marietta City Manager, added, "Remington has been very proactive in addressing any and all concerns we have raised during negotiations to our complete satisfaction. Their performance while managing the Marietta Conference Center & Resort has been exemplary. We look forward to a long-term relationship with Remington."
About Remington Hotel Corporation
Senior Vice President
|Also See:||Remington Hotels Corp. Agrees to Pay the City of Marietta $2.3 million a Year to take over Marietta Resort and Conference Center / May 2005|
|Marietta City Council Pays $1.5 million to Buy Out Sentry Hospitality's Management Contract for City Owned Marietta Conference Center and Resort / June 2003|