BALTIMORE, Nov. 12, 2007 - The term "groundbreaking" took
on double meaning today when J.W. (Bill) Marriott, Jr., chairman and CEO
of Marriott International, Inc. (NYSE: MAR) picked up a shovel to herald
the construction start of a new, 154-room Fairfield Inn & Suites by
Marriott-Inner Harbor at Historic Brewers' Park to open in the spring of
2009.
The first LEED (Leadership in Energy and Environmental Design)-certified
hotel in Baltimore City and one of several "green" Marriott hotels planned
for the LEED certification company-wide over the next five years, the hotel's
three-pronged ownership includes minority-owned A&R Development, a
division of A&R Companies of Baltimore and Washington, D.C.
Long-time Marriott franchisees Summit Associates, LLC, and Hospitality
Partners, which will also manage the hotel, also co-own the hotel. Project
cost is $23 million.
"The new Fairfield Inn & Suites will bring us closer to achieving
two major Marriott initiatives -- to become a greener and a more diverse
company," said Bill Marriott. "By 2010, we plan to have 500 minority- and
women-owned hotels -- we're currently at 400 -- and Marriott is on track
to reduce greenhouse gas emissions by 1 million tons, a goal we set in
2000."
Theo Rodgers, president of A&R Development, embraced Marriott's
diversity goals, adding, "We are proud that our first hotel project carries
the Marriott flag."
Gene Singleton, president of Summit Associates, said that the hotel
is in the historic Jonestown District, on Baltimore's Heritage Walk, and
on the site of the former Baltimore Brewing Company at Brewer's Park.
In keeping with the green theme, Singleton noted that materials from
the original brewery -- such as beer storage tanks that will be used to
collect rainwater, hardware, bricks, and the original Baltimore Brewery
sign -- will be incorporated into the hotel's design.
Singleton saluted the hotel's interior designer, George Conte, who
worked with the owners to create public spaces that would "emulate what
was there" -- a favorite and welcoming community gathering place; and said
that the hotel is complying, both during and after construction, with LEED
guidelines established by the United States Green Building Council.
James B. Kraft, Baltimore City Councilman and "champion" of the city's
Cleaner Greener Baltimore initiative, said, "In 2009, LEED certification
will be a requirement for all Baltimore City developers. That's how strongly
we feel about the importance of green building. The Fairfield Inn &
Suites by Marriott is taking this step without being required to do so
by law -- they are doing this because it's the right thing to do. I am
honored to help commemorate this milestone in our city, and I hope that
this project will serve as a model for future development."
For more information on Marriott's diversity ownership and green initiatives,
visit http://www.marriott.com.
MARRIOTT INTERNATIONAL, INC. (NYSE: MAR) is a leading lodging company
with more than 2,900 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, Horizons by Marriott Vacation
Club, 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. The company
is headquartered in Bethesda, Md., and had approximately 151,000 employees
at 2006 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 2006, Marriott International reported sales from continuing
operations of $12.2 billion. For more information or reservations,
please visit our web site at http://www.marriott.com.
Formed in 2004 by Gene Singleton, who since the late 1980s has led
the development, construction and operation of more than 50 hotels in six
states, Summit Associates, LLC is a real estate development firm specializing
in the hospitality industry. The company is currently developing 12 premium-brand
hotels in the U.S. For more information, visit http://www.sumassociates.com.
Hospitality Partners is a hotel company founded in 1986 by partners
Michael M. Dickens, John A. Vernon and Frederick J. Palloni, Jr. For more
information, visit http://www.hospitalitypartners.com
A&R Companies is a family-owned and -operated group of businesses
with nearly 30 years of expertise in real estate development, construction
and property management. Founded in 1977 by William L. Adams and Theo C.
Rodgers, A&R Companies today is led and managed by two generations
of the Rodgers family, with full-service offices in Baltimore and Washington.
For more information, visit http://www.ar-companies.com |
