Marriott International Announces Withdrawal From Discussions to Acquire Le Meridien

Marriott International Announces Withdrawal From Discussions to Acquire Le Meridien

WASHINGTON, May 3 -- After being informed that it was not selected as the preferred bidder, Marriott International, Inc. (NYSE: MAR) announced today that it has withdrawn from discussions with Compass Group plc for the acquisition of the Le Meridien hotel chain.

MARRIOTT INTERNATIONAL, INC. (NYSE: MAR) is a leading worldwide hospitality company with over 2,300 operating units in the United States and 59 other countries and territories. Marriott Lodging operates and franchises hotels under the Marriott, JW Marriott, Renaissance, Residence Inn, Courtyard, TownePlace Suites, Fairfield Inn, SpringHill Suites and Ramada International brand names; develops and operates vacation ownership resorts under the Marriott, Ritz-Carlton and Horizons brands; operates Marriott Executive Apartments; provides furnished corporate housing through its ExecuStay by Marriott division; and operates conference centers. Other Marriott businesses include senior living communities and services, wholesale food distribution and The Ritz-Carlton Hotel Company, L.L.C. The company is headquartered in Washington, D.C., and has approximately 154,000 employees. In fiscal year 2000, Marriott International reported systemwide sales of $19.8 billion. For more information or reservations, please visit our web site at http://www.marriott.com .