Marriott International and Strategic Hotel Capital Reach Agreement to Settle Litigation

WASHINGTON, Jun 5, 2004 /PRNewswire-FirstCall via COMTEX/ -- Marriott International, Inc. (NYSE: MAR) and Strategic Hotel Capital, LLC today signed an agreement to resolve the litigation between the two parties. Implementation of the agreement is subject to the consent of certain third parties, which is expected to be received within 90 days. The resolution is not material to Marriott International.

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Marriott International manages seven of the properties in Strategic's 21-hotel portfolio under the Ritz-Carlton and Marriott brands.

Arne Sorenson, chief financial officer of Marriott International, Inc., said, "We are pleased to have resolved our differences and look forward to a healthy and growing relationship with Strategic."

Laurence Geller, chairman of Strategic said: "We are happy to have restored a constructive and long-term partnership with Marriott International."

MARRIOTT INTERNATIONAL, INC. (NYSE: MAR) is a leading worldwide hospitality company with over 2,700 lodging properties in the United States and 68 other countries and territories. Marriott International operates and franchises hotels under the Marriott, JW Marriott, The Ritz-Carlton, Renaissance, Residence Inn, Courtyard, TownePlace Suites, Fairfield Inn, SpringHill Suites and Ramada International brand names; develops and operates vacation ownership resorts under the Marriott Vacation Club International, Horizons, The Ritz-Carlton Club and Marriott Grand Residence Club brands; operates Marriott Executive Apartments; provides furnished corporate housing through its Marriott ExecuStay division; and operates conference centers. Marriott is also in the synthetic fuel business. The company is headquartered in Washington, D.C., and has approximately 128,000 employees and was ranked as the lodging industry's most admired company and one of the best places to work for by FORTUNE(R). In fiscal year 2003, Marriott International reported sales from continuing operations of $9 billion. For more information or reservations, please visit our web site at http://www.marriott.com.

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SOURCE Marriott International, Inc.

Roger Conner of Marriott International, +1-301-380-5605 or
roger.conner@marriott.com
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