MARRIOTT INTERNATIONAL ANNOUNCES SALE OF WAIKIKI BEACH MARRIOTT RESORT FOR $130 MILLION; WILL RETAIN LONG-TERM MANAGEMENT AGREEMENT

Year-To-Date Asset Sales Total Over $600 Million

Marriott International, Inc. (NYSE:MAR) today announced that it has sold the Waikiki Beach Marriott Resort to a partnership (the “Partnership”) controlled by CNL Hospitality Corp. (“CNL”) for approximately $130 million in cash. Marriott International is a minority investor in the Partnership and will continue to operate the resort under a long-term management agreement with the Partnership.

“We are pleased to work with CNL to complete the sale of this unique resort property in Hawaii,” said Arne M. Sorenson, executive vice president and chief financial officer of Marriott International. “We continue to be very successful in our strategy to sell company-owned hotels while retaining long-term management agreements,” Mr. Sorenson added.