Development

Marriott to Operate Grosvenor House in London and Shelbourne Hotel in Dublin

WASHINGTON, Dec. 4 Marriott International, Inc. (NYSE:MAR) announced today that Marriott will operate the Grosvenor House hotel in London's Mayfair district and the Shelbourne hotel on St. Stephen's Green in Dublin, beginning Jan. 31, 2004.

Marriott Prior to that time Le Meridien will continue to run the hotels under a short-term transitional arrangement.

The Royal Bank of Scotland plc (RBS), the owner of the two hotels, plans to complete substantial renovations and improvements to both over the next few years, including guest rooms, public areas and infrastructure. Following the renovations and improvements, the Grosvenor House will become a 498-room JW Marriott hotel and the Shelbourne a 276-room Renaissance hotel. Marriott will operate both hotels under long-term leases. No other terms of the agreements were disclosed.

James M. Sullivan, Marriott International's executive vice president - lodging development, said, "We are delighted to conclude an agreement that will bring two legendary properties and prime conference space into the Marriott International system, in two of the most coveted and prestigious locations in Europe."



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