Approximately 80 Hotels in Germany, Switzerland
to Be Co-Branded; Development Agreement to Add Up to 50 Hotels in Next
Five Years
FRANKFURT, Germany, Oct. 10, 2000 - Ramada International Hotels &
Resorts, a division of Marriott International, Inc. (NYSE: MAR - news),
and Treff Hotels of Germany and Switzerland have reached an agreement that
will result in the co-branding of approximately 80 existing Treff hotels
and resorts with almost 12,600 rooms. The agreement is worth upwards of
100 hotels. Concurrently, Ramada International has concluded an exclusive
agreement with Hospitality Alliance AG of Switzerland, a division of Treff
Hotels, that will result in the development of an additional 10 hotels
per year in Germany and Switzerland over the next five years. With both
agreements, Treff Hotels will be the largest Ramada International franchisee.
All properties will be operated by Treff Hotels and will carry one of
the following brand names beginning in January 2001:
-
Ramada-Treff Hotels
-
Ramada-Treff Plaza Hotels
-
Ramada-Treff Resorts
-
Ramada Plaza Hotels
-
Ramada Encore Hotels
-
Ramada Hotels
-
Ramada Resorts
�This is truly a monumental agreement that will significantly expand Ramada�s
special brand of hospitality to thousands of travelers in Germany and Switzerland,�
said Reas Kondraschow, senior vice president and managing director, Ramada
International Hotels & Resorts. �We are delighted to be working with
Treff Hotels, which shares our vision for the future and our commitment
to guest service and customer value.�
Speaking
for Treff Hotels, Alexander Fitz, managing director, Treff Hotels AG, said,
�We are very happy to find a partner like Ramada International Hotels &
Resorts, which has international experience and whose product segmentation
and portfolio are comparable to our own. Putting Ramada International�s
brand standards and reservation system together with our own market experience
in Germany and Switzerland will create a successful business relationship.�
�This is a significant opportunity for growth in Europe. We expect smaller
chains and individual owners to join us as we expand the Ramada brand,�
said Mr. Kondraschow.
Under terms of the co-branding agreement, the former Treff Hotels will
benefit from Marriott International�s powerful worldwide sales and marketing
distribution network and travel agent programs. Eventually, it is expected
to include Marriott�s successful MARSHA reservations system.
Additionally, the Treff properties will be able to streamline their
operations and introduce Ramada�s guest services, which are marketed as
�Everything Except Excess.� An extensive refurbishment program will be
implemented to bring all properties in Treff�s current lodging system in
line with Ramada International�s guest services and security standards.
The development agreement will open new hotels and target existing properties
that meet Ramada�s safety and quality standards in key gateway cities and
regional hubs in Germany and Switzerland.
All of the Ramada-Treff hotels will maintain Ramada International�s
five pillars, which are: a restful sleep, an invigorating shower, a well-trained
staff, an exceptional level of cleanliness and the �Ramada Mornings Breakfast��
a selection that is hot, delicious and easy.
Ramada International, operating outside of North America, is one of
Marriott International�s 12 lodging brands. Currently, Ramada International
properties are located in 13 countries around the world. Treff Hotels and
Resorts are located in 80 cities in Germany, Switzerland and Italy.
TREFF HOTELS is one of Germany�s largest hotel chains with almost 100
hotels in Germany, Switzerland and Italy. Founded in 1969 by Helmut
Fitz, the privately-held company is based in Bad Arolsen, Germany, which
is also home to the company�s first hotel the Treff Hotel Bad Arolsen.
Treff also owns and operates hotello Objektaustattungen GmbH, a supply
company for hotels. The company�s reported earnings in 1999 were DM 492
million.
MARRIOTT INTERNATIONAL, INC. (NYSE:MAR - news) is a leading worldwide
hospitality company with over 2,000 operating units in the United States
and 58 other countries and territories. Marriott operates and franchises
hotels under the Marriott, Renaissance, Residence Inn, Courtyard, TownePlace
Suites, Fairfield Inn, SpringHill Suites and Ramada International brand
names; operates Ritz- Carlton brand hotels through The Ritz-Carlton Hotel
Company LLC; develops and operates vacation ownership resorts under the
Marriott, Ritz-Carlton Club and Horizons brands; operates executive apartments
and conference centers; and provides furnished corporate housing through
its ExecuStay by Marriott division. Other Marriott businesses include senior
living communities and services, wholesale food distribution, and procurement
services. Marriott is headquartered in Washington, D.C., and has approximately
151,000 employees. In fiscal year 1999, Marriott International reported
system-wide sales of $17.7 billion.
This press release contains �forward-looking statements� within the
meaning of federal securities laws, including statements concerning the
timing for and completion of the conversion of the 80 hotels and the development
of 50 new hotels, that are not historical facts. |