The ceremony which was attended by local community and business leaders, including Port of Seattle Chief Executive Officer Mic Dinsmore, Seattle Convention and Visitor's Bureau President Steve Morris, Columbia Hospitality President John Oppenheimer and Marriott International Regional Vice President of Sales and Marketing Steve Heitzner, marked another integral step in the on-time construction of the $80 million dollar property. The "topping out" ceremony is a building industry tradition based on a 1,300-year-old Scandinavian custom of crowning newly completed structures with an evergreen tree to assure good luck for the project. In modern days, the ceremony is held when the last, uppermost pieces of structural steel or concrete columns are put in place, marking the mid-point of construction for the project. To commemorate this milestone, the ceremony was a "hard hat affair," taking place on the top level of the construction site allowing guests to be among the first to view the spectacular waterfront Puget Sound views the hotel will offer.

As only the second waterfront hotel to be built along Seattle's newly re-developed central waterfront district, the Seattle Marriott Waterfront Hotel is truly one of the most highly-anticipated developments in downtown Seattle. "Completion of this fine hotel fulfills the promise of revitalizing Seattle's central waterfront," remarked Mic
Dinsmore, chief executive officer for the Port of Seattle. "The Port is proud to partner with Marriott to make a 20-year vision a reality."

The eight-story hotel will occupy one of the most sought-after spots on the waterfront between Piers 62/63 and 66, and be within easy walking distance to downtown Seattle's shopping and financial areas; the Belltown quarter, a bustling mecca for the city's hottest restaurants and bars; and major attractions including Pike Place Market, the Seattle Aquarium, the Space Needle and Seattle Center.

"The Seattle Marriott Waterfront will be an exciting addition to the city's offerings and will further enhance one of the country's most dynamic downtown hotel and meeting markets," said Steve Morris, president of Seattle's Convention & Visitor's Bureau. "The development of this new property can only add to the vitality of Seattle's $3.6 billion tourism industry and its promise of future growth."

Additionally, with its prominent location directly across from the 78,000-square-foot Bell Harbor International Conference Center, the Seattle Marriott Waterfront hotel will also supply a unique meetings venue not currently available in Seattle. The hotel will offer an additional 11,000 square feet of meeting space accommodating groups from 10 to 700. Each of the hotel's eleven meeting rooms, including an 8,226-square-foot Grand Ballroom, an executive boardroom, and two conference/hospitality suites featuring spectacular views, will provide state-of-the-art technology with high-speed Internet access. The hotel will also be the first hotel in Seattle to provide wireless capability in most of the hotel's public areas.

"The Seattle Marriott Waterfront hotel will play a pivotal role in the development of the waterfront community," said John Oppenheimer, president of Columbia Hospitality which operates the Bell Harbor International Conference Center and the adjoining World Trade Center Seattle. "We are excited they will be our next door neighbor and look forward to working with them to better serve not just the clients of Bell Harbor and World Trade Center Seattle, but Marriott's guests as well."

The Seattle Marriott Waterfront hotel will also become home to one of today's most renowned and illustrious restaurateurs who will provide a one-of-a-kind dining experience for visitors and locals alike. Award-winning Chef Todd English recently unveiled plans to open up the Fish Club, an upscale seafood establishment destined to become one of Seattle's preeminent restaurants. Todd English is internationally known for developing "hot" new restaurant concepts serving culinary inspirations including the acclaimed Olives, King Fish Hall, Rustic Kitchen, Tuscany, Bonfire and Figs restaurants. English and his restaurants have received numerous accolades including Bon Apetit's 2001 Restaurateur of the Year and People magazine's 50 Most Beautiful People.

From the lobby and its public spaces to each of the hotel's 358 guest rooms, the overall design of the Seattle Marriott Waterfront will derive inspiration from the natural elements surrounding the building: water, light and the sky. Expanses of natural stone, accent walls of colorful glass mosaic tiles, an Italian glass chandelier and a grand staircase with an "art glass" element are just a few creative touches being planned for the hotel's interior spaces. Equal attention will be placed on the hotel's exterior design to properly highlight its magnificent waterfront location. The contemporary architectural design of the building's exterior will boast polished pre-cast concrete and natural stone on the walls with the colors and materials carefully chosen by taking cues from nearby maritime features. The hotel has also commissioned Laura Haddad, a well-known local artist, to provide a one-of-a-kind rooftop design incorporating colored concrete pavers and recycled glass pavers. The design will mimic the water view visible from the hotel as well as incorporate an illusion of courtyard gardens on the lower-level roofs. The end result will truly be a sight to behold and will further distinguish the Seattle Marriott Waterfront hotel and its unique location from all the rest.

"Marriott is thrilled to be partnering with CNL Hospitality Corp. to bring downtown Seattle's first full-service Marriott hotel and the city's second waterfront hotel to life," commented Steve Heitzner, regional vice president of sales and marketing for Marriott International. "Its unique and convenient waterfront location next to the Bell Street International Conference Center will make this hotel an ideal choice for leisure, meeting and business travelers alike."

Currently in the Seattle area, Marriott International also operates and/or franchises 22 properties under the company's various hotel brands. In addition to the Seattle Marriott Waterfront Hotel development, the company also plans to open the Marriott Redmond Town Center in October 2004.

CNL Hospitality Corp. is the hotel industry investment and development division of CNL Financial Group, Inc. To date, the company has acquired or has commitments to acquire interests in properties valued at nearly $1.8 billion, comprising 54 hotels in 21 states.  In addition to the Seattle Marriott Waterfront project, the company has a commitment to acquire the 950-room JW Marriott Desert Ridge Resort & Spa in Phoenix, Ariz., scheduled to open November 2002. Headquartered in Orlando, Fla., CNL Financial Group, Inc.  is one of the nation's largest, privately held real estate investment and finance companies. CNL Financial Group, Inc. and the entities it has formed or acquired have more than $5.3 billion in assets, representing more than 3,000 properties in 49 states. For additional information, visit www.cnlonline.com and follow the links to CNL Hospitality Corp.

MARRIOTT INTERNATIONAL, INC., a leading worldwide hospitality company celebrating its 75th Anniversary in 2002, has over 2,600 operating units in the United States and 64 other countries and territories.