�The Marriott Hamburg fits all of our acquisition criteria. It�s a first-class hotel in the city center of Hamburg with high barriers to entry. Based on our research, the Marriott�s location is viewed as the best currently available in the city and an opportunity unlikely to be replicated,� said Laurence Geller, CEO, SHC. �Its central location and accessibility are extremely appealing for business and leisure travelers alike,� added Geller.

�Marriott is one of our �preferred operators� and we believe that their ability to drive business coupled with our value-added asset management systems will provide substantial incremental profits,� said Kay Dymock, managing director of SHC International.

The Marriott Hamburg is located on ABC-Strasse in the central business and upscale shopping district of Hamburg, a part of the city that has been rejuvenated over the last 10 years. It is within walking distance of many of the principal office buildings, several shopping arcades, Alster Lake, The Messe and the Congress Center Hamburg (CCH).

The four-star, 277-room hotel has more than 4,500 square feet of meeting space, a restaurant featuring International and American cuisine, a piano bar and a full-service health club.

The Marriott Hamburg acquisition represents the 32nd hotel in the SHC porfolio.
In 1999, SHC and GIC RE formed a joint venture to acquire first-class and luxury hotels throughout Europe. The Marriott Hamburg is the joint venture�s second acquisition; the Hotel Inter-Continental Praha was its first.

GIC Real Estate Pte Ltd (GIC RE) is the real estate investment arm of the Government of Singapore Investment Corp. Pte Ltd (GIC). Set up as a private company in 1981 and wholly owned by the Government of Singapore, the GIC manages the foreign reserves of Singapore.  With funds in excess of U.S. $70 billion, its activities include investments in listed and unlisted equities, bonds, foreign exchange and real estate.
 

A privately held firm founded in 1997, SHC targets upscale and luxury hotels on a global basis for acquisition. It seeks larger hotels (200-plus rooms) managed by a group of very select, �preferred� operators. Since its inception, SHC has assembled a portfolio of properties in the United States, Mexico, and Europe. Hotels in the SHC portfolio include the Essex House, A Westin Hotel, New York City; The Ritz-Carlton, Laguna Niguel, Dana Point, Calif.; the Hyatt Regency New Orleans; the Hyatt Regency Embarcadero and the Park Hyatt, both in San Francisco; and the Hyatt Regency on Capitol Hill, Washington, D.C.  SHC is committed to building approximately 30 percent of its portfolio outside of the United States, said Geller. In Europe, its properties include the Hilton London St. Ermin�s, the Marriott Champs Elysees in Paris and the newly acquired Hotel Inter-Continental Praha. In Mexico, SHC owns the Four Seasons, Mexico City.  According to Geller, future expansion outside of North America will largely focus on Western Europe and Asia. SHC (www.shci.com) is a privately held limited liability company whose major shareholders include the Whitehall Funds and Prudential Insurance Co. of America.

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Portfolio Embassy Suites Crystal City  Embassy Suites Lake Buena Vista Embassy Suites Orlando Airport  Embassy Suites Philadelphia Airport  Embassy Suites Santa Clara  Four Seasons Mexico City Hilton Burbank Airport  Hilton Miami Airport  St. Ermins  Park Hyatt San Francisco  Hyatt Regency Coral Gables  Hyatt Regency La Jolla  Hyatt Regency New Orleans  Hyatt Regency Phoenix  Hyatt Regency San Francisco  Hyatt Regency Washington DC  Hyatt at University Village  Hotel Inter-Continental Praha  Loews Santa Monica Beach Hotel  Marriott Lincolnshire Resort  Marriott East Side Paris Marriott Champs Elysees Marriott Rancho Las Palmas Resort  Marriott Schaumburg  Renaissance Beverly Hills  The Ritz-Carlton, Laguna Niguel  Essex House, a Westin Hotel  Westin Santa Clara  Sheraton West Port Plaza and Inn  Westward Look Resort