The Renaissance Dallas Hotel Acquired by a Subsidiary of JWM Family Enterprises, L.P; The 518 room Landmark Will Continue
to be Operated by Marriott International
August 15, 2006 - Marriott International, Inc. today announced the sale of the AAA Four-Diamond Renaissance Dallas Hotel to Thomas Point Ventures, L.P., a subsidiary of JWM Family Enterprises, L.P. The hotel will undergo a multi-million dollar renovation in early 2007 which will include a complete guest room redo and the addition of meeting new space. Marriott International will continue to operate the hotel as a Renaissance under a long-term management agreement.
"We are excited to own this landmark Dallas hotel," said John Marriott, CEO, JWM Family Enterprises, Inc. "We are also excited to renovate and expand the hotel. Guests will be thrilled by the new design, style and fashionable Renaissance experience."
The guest rooms will include the new Renaissance bedding. The traditional bedspread will be replaced with down comforters nestled inside a sheeted duvet and feature 300-thread count sheets; a four-inch mattress topper, down pillows and a decorative bed scarf. Other in-room amenities currently include coffee maker, iron with ironing board, in-room safe, and cable TV with premium channels.
"The Renaissance Dallas Hotel is the largest Marriott lodging product in the city of Dallas serving our convention industry," said Tom Noonan, vice president, convention sales, Dallas Convention & Visitors Bureau. "We look forward to the planned upgrades."
The 30-story elliptical, pink granite hotel is a landmark on the Dallas skyline. It features 518 guest rooms, including 30 suites, and an array of options for individuals and groups. Planners can select from 19,000 square feet of flexible meeting space, including two ballrooms, 17 additional meeting rooms, state-of-the-art technology and two restaurants - Charisma, offering Texas cuisine, and T-Bones Steakhouse. Located at 2222 Stemmons Freeway in the heart of Market Center, the Renaissance Dallas Hotel offers guests quick access to the city's top attractions, including Downtown Dallas, West End Entertainment District, American Airlines Center, Love Field Airport and the Dallas Convention Center.
For business travelers, the hotel offers the Renaissance Club Level, a 24- hour business center, top-tier newspapers and the latest in fitness equipment, from in-room delivery options to a dramatic rooftop swimming pool and fitness center.
Renaissance Hotels & Resorts is a sophisticated and distinctive full- service lodging brand. Renaissance offers hotels and resorts with uniquely expressive design, "Savvy Service" and restaurants serving contemporary local cuisine that appeal to both hotel and local customers. Renaissance also participates in Marriott's award-winning frequent travel program, Marriott Rewards(R). For more information or reservations, visit http://www.renaissancehotels.com/ or call 1-800-Hotels-1.
MARRIOTT INTERNATIONAL, INC. is a leading lodging company with nearly 2,800 lodging properties in the United States and 67 other countries and territories. Marriott International operates and franchises hotels under the Marriott, JW Marriott, The Ritz-Carlton, Renaissance, Residence Inn, Courtyard, TownePlace Suites, Fairfield Inn, SpringHill Suites and Bulgari brand names; develops and operates vacation ownership resorts under the Marriott Vacation Club International, Horizons, The Ritz-Carlton Club and Grand Residences by Marriott brands; operates Marriott Executive Apartments; provides furnished corporate housing through its Marriott ExecuStay division; and operates conference centers and golf courses. The company is headquartered in Washington, D.C., and had approximately 143,000 employees at 2005 year-end. It is ranked as the lodging industry's most admired company and one of the best places to work for by FORTUNE(R). The company is also a 2006 U.S. Environmental Protection Agency (EPA) ENERGY STAR(R) Partner. In fiscal year 2005, Marriott International reported sales from continuing operations of $11.6 billion. For more information or reservations, please visit our web site at http://www.marriott.com/.
JWM Family Enterprises, L.P., a private investment fund launched in 1993, is the General Partner of Thomas Point Ventures. Based in Bethesda, Md., the partnership has more than $1 billion in assets and owns 12 hotels that are managed by Marriott International, Inc. The partnership recently purchased the 185-room Charlotte Marriott SouthPark in Charlotte, N.C., the 351-room Marriott West Palm Beach in West Palm Beach, Fla., and the 405-room Columbus Renaissance in Columbus, Ohio. They plan to invest in other hotels which may be branded and managed by Marriott International. John W. Marriott III serves as President and Chief Executive Officer.
Marriott International, Inc.,