MARRIOTT INTERNATIONAL NAMED TO MANAGE ROCKMAN’S REGENCY HOTEL IN MELBOURNE

Property to Be Eighth Hotel in Marriott’s Lodging Portfolio in Australia

Marriott International (NYSE:MAR) has been named to manage the 185-room Rockman’s Regency Hotel in Melbourne, Australia, following its sale to Commonwealth Property Hotel, a hotel-specific investment trust managed by the Commonwealth Bank of Australia.

Following an extensive refurbishment program that is expected to be completed in mid-to-late 2001, the property will be renamed the Melbourne Marriott Hotel. It will be the eighth property in Marriott’s multi-brand lodging portfolio in Australia.

Rockman’s Regency Hotel opened in 1982 as Melbourne’s first boutique hotel and quickly rose to prominence as the city’s premier hotel for the business community and the entertainment industry. Its founder, Irvin Rockman CBE, a prominent Melbourne civic leader and former two-term Lord Mayor, is still active in the hotel, located on the corner of Lonsdale and Exhibition Streets in the city’s central business district close to the Office and Entertainment precincts and Chinatown.

“We are excited that this outstanding hotel will be part of our Australian lodging portfolio,” said Ed Fuller, president and managing director for international lodging at Marriott International. “This elegant property fits our strategic growth objectives perfectly and its founding principles of offering travelers a warm and inviting ‘home away from home’ matches our operating philosophy. We couldn’t be more pleased.”

Mr. Rockman said, “I have known Marriott hotels since the 1960's and admire their operations more than anyone else in hospitality. I am so pleased they are committed to continuing our personal and caring service, which has given us an edge in a highly competitive market. And, importantly, it is an approach to service that makes our guests feel ‘at home in Melbourne.’”

For dining and entertainment, the Melbourne Marriott Hotel will offer a casual bistro-style restaurant and lobby lounge. Recreational amenities include an indoor swimming pool, an exercise room and a sauna. Other amenities include a business center, laundry/valet services and parking for 90 automobiles.

For social events and conferences, the hotel will offer 381 square meters of space including a 126 square-meter meeting room that is divisible into two sections, a 213 square-meter conference room and a 42 square-meter board room.

The Marriott International lodging portfolio in Australia currently includes the 267-room Brisbane Marriott, the 241-room Sydney Marriott, the 330-room Marriott Surfers Paradise Resort, the 597-room Renaissance Sydney, the 181-room Courtyard by Marriott Parramatta Hotel, the 405-room Courtyard by Marriott Surfers Paradise Hotel, and the 181-room Courtyard by Marriott Great Barrier Reef Hotel.
Commonwealth Property Hotel also owns the Brisbane Marriott Hotel and will continue to look for hotel assets in Australia and New Zealand for acquisition.