Under the agreement, ClubCorp will move its recently introduced B2B electronic purchasing business, ePurchase.net, to P-Co, integrating it with the procurement businesses of Marriott and Hyatt that were combined for P-Co. The P-Co procurement system is built around a Web-based procurement engine developed and hosted by GoCo-op.

ClubCorp�s expertise in the golf and club industries will help P-Co expand its opportunities in this market, estimated to be $9 billion in goods and services purchased annually. P-Co was created to service the North American hospitality procurement industry, a market estimated at approximately $60 billion each year.

ClubCorp expects to begin transitioning its procurement operations to the new company later this month. Both Marriott and Hyatt have begun the process of migrating their procurement businesses to the new company.

�We are delighted to have ClubCorp join P-Co, as its worldwide leadership in providing golf, private club and golf resort experiences makes it an ideal partner,� said Dennis Baker, acting chief operating officer of P-Co. �Furthermore, this clearly signals that our vision to provide the hospitality market with the most comprehensive source for E-enabled strategic procurement services is rapidly becoming a reality.�

Robert Dedman Jr., president and chief executive officer of ClubCorp, said, �The new company we are founding with Marriott and Hyatt unifies the successful procurement companies of each participant and the technology expertise of GoCo-op, giving us the size and scale to realize the full benefits of e-procurement. P-Co will help us reduce our procurement costs through the use of B2B Internet technologies and strategic purchasing solutions, but it also reinforces ClubCorp as a force in the hospitality industry.�

�As P-Co expands, GoCo-op�s infinitely scalable e-commerce platform will provide companies with a rapid implementation and seamless integration into the marketplace,� said Christopher Cogan, chairman and CEO of GoCo-op.

GoCo-op, an e-commerce service provider based near Orlando, Florida, is providing the company�s core e-commerce engine and is working with the company and other service providers to integrate with other front- and back-office systems and technology. Expected to formally begin operations in the fall, P-Co�s management is in the final stages of selecting a name and brand identity for the new company. The company is working on integration plans for bringing together the three founders� purchasing entities.

Completion of this transaction is subject to customary regulatory approval. P-Co will have an initial staff of approximately 100, and will be headquartered in suburban Washington, D.C., with regional offices in Chicago, Dallas and other key North American markets.

GOCO-OP, INC. develops and hosts Internet-based procurement systems and vertically integrated business-to-business trading communities for hospitality and hospitality-related industries. GoCo-op offers a rapidly deployable, end-to-end purchasing solution, Procura, which significantly reduces overall costs and inefficiencies for buyers and vendors.  .

The Marketplace by Marriott® is the business launched by Marriott International to provide comprehensive, strategic, �one-stop-shopping� for hospitality procurement needs by offering access to Marriott�s procurement expertise and leverage on a variety of commodities and services to hotel owners and franchisees of both Marriott and non-Marriott brands.

MARRIOTT INTERNATIONAL, INC. (NYSE:MAR) is a leading worldwide hospitality company with over 2,000 operating units in the United States and 55 other countries and territories. 

HYATT HOTELS CORPORATION has 194 Hyatt hotels and resorts around the world. Hyatt operates 117 hotels in the United States, Canada and the Caribbean under various Hyatt brands and develops and operates vacation ownership resorts under the Hyatt Vacation Ownership Club brand. 

CLUBCORP USA, INC., founded in 1957 and based in Dallas, has $1.6 billion in assets and is the world leader in delivering golf, private club and resort experiences. Globally, the company owns or operates more than 220 golf courses, country clubs, private business and sports clubs and golf resorts, with more than 22,000 employees and 500,000 members. 

This press release contains �forward-looking statements� within the meaning of federal securities law, including statements concerning business strategies and their intended results, and similar statements concerning anticipated future events and expectations that are not historical facts.