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a $60 Million Renovation |
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 BETHESDA,
Md., July 27, 2004 - Host Marriott Corporation (NYSE: HMT) today announced
that it has commenced construction as part of an extensive renovation of
the Newport Beach Marriott Hotel. The renovation is expected to cost
approximately $60 million. The renovation project will include the
addition of a world-class spa, 20 new luxury suites with sweeping ocean
views, redesigned guest rooms, a new restaurant concept and updated meeting
space. The hotel is managed by Marriott International (NYSE: MAR)
and will remain open during the renovation, which is expected to be completed
by November of 2005. Upon completion, the hotel will be renamed the
Newport Beach Marriott Hotel & Spa.
"We are excited about our plans to take advantage of this asset's superior location and improving market conditions," said Christopher Nassetta, president and chief executive officer. "The repositioning of this hotel will allow us to realize the asset's true revenue and profit potential." "We're thrilled to embark on such an exciting project," said Bill Gunderson, general manager, Newport Beach Marriott. "From the room renovations to the revamped meeting space to the new spa, guests will notice the difference the moment they enter the hotel. We look forward to unveiling the completed hotel on our 30th anniversary and welcoming past guests and new visitors to this wonderful destination." The hotel is located on one the most desirable pieces of real estate in Southern California, approximately one mile from the Pacific Ocean, overlooking the Newport Yacht Basin and the Pacific coastline. The hotel is situated on Newport Center Drive opposite the Fashion Island mall and abutting the Newport Beach Country Club Golf Course. Host Marriott Corporation is a Fortune 500 lodging real estate company, which owns 112 upscale and luxury full-service hotel properties primarily operated under Marriott, Ritz-Carlton, Hyatt, Four Seasons, Fairmont, Hilton and Westin brand names. |
| Contact:
Host Marriott Corporation Web Site: http://www.hostmarriott.com |