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  Finvarb Group Breaking Ground on a 208-room Residence Inn
by Marriott in Phoenix, Ariz., on the Campus of the Mayo Clinic
BETHESDA, Md., Oct. 25, 2007 - Marriott International, Inc.  (NYSE: MAR) and the Hispanic-owned Finvarb Group announced today that they are breaking ground on a 208-room Residence Inn by Marriott hotel in Phoenix, Ariz., on the campus of the Mayo Clinic. This is Finvarb’s eighth Marriott-branded hotel. The agreement brings Marriott closer to its goal of reaching 500 minority- and women-owned hotels by 2010. The hotel will be located at 5777 E. Mayo Blvd. and is expected to open in early 2009.
“We are very excited to expand our portfolio of Marriott hotels,” said Robert Finvarb, founder and president. “And, we’re equally thrilled to share a campus with such a prestigious institution as the Mayo Clinic.”
“We are pleased to welcome Marriott to our Phoenix campus. This will be a top-rated hotel that will provide a service and convenience to our patients,” said Victor F. Trastek, M.D., CEO, Mayo Clinic in Arizona.
Earlier this year, the Miami-based Finvarb Group made history as the first Hispanic-majority hotel owner in Washington, D.C., when it broke ground on a Courtyard by Marriott in the new NoMa (North of Massachusetts Avenue) Business Improvement District.
The principals of the Finvarb Group are Richard Finvarb and Robert Finvarb.

Richard has been involved as a principal in the real estate development business in Florida for more than 30 years. During this time, the Finvarb Group developed numerous real estate projects, including several hi-rise condominium projects, multifamily apartment buildings, office buildings, single-family home developments and the renovation of a hotel in South Beach that was flagged as a Marriott Courtyard Hotel.

Richard is a licensed general contractor. And, Richard is a principal in Finvarb Realty, a prominent residential and commercial real estate brokerage company based in Miami Beach that has been in business for more than 24 years.

Robert is a graduate of Georgetown University Law Center and has been a member of the Florida Bar since 1993. Following his graduation from law school, he became associated with the law firm of Stearns Weaver Miller in Miami. In 1998, Robert became General Counsel of Williams Island Associates, a leading developer of luxury condominiums and condominium hotels in South Florida. In 2000, Robert served as Vice President and General Counsel with Terremark Worldwide, Inc., a publicly traded real estate and telecommunications company.

In 2002, Robert joined the Finvarb Group and spearheaded the development of the 174-room Marriott Courtyard Hotel in Dania Beach, Florida. Currently, Robert is leading the efforts to develop a 123-room Residence Inn by Marriott hotel in Chantilly (Dulles Airport South), Virginia that is expected to open in the spring of 2005 and a 135-room Residence Inn by Marriott hotel in Tallahassee, Florida that is expected to open in the spring of 2006. 

For information on the Finvarb Group, visit For more information on Marriott’s Diversity Ownership Initiative, visit
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, Inc.

Also See: Marriott's Diversity Initiatives Add Five African American and Hispanic Owned Hotels Since May, 2005 / August 2005


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