Marriott International is Getting Slimed! And That's a Good Thing!
Nickelodeon and Marriott International Enter Into Global Partnership to Create New Branded Hotel Experience
20 New Resorts Around the World Expected by 2020; First Hotel Expected to Open in San Diego in 2010
NEW YORK, May 31 /PRNewswire/ -- Marriott International, Inc. (NYSE:MAR), Nickelodeon, a unit of Viacom International, Inc.'s (NYSE:VIA)(NYSE:B) MTV Networks, and Miller Global Properties, LLC, an international real estate investment and development company, today announced an agreement to co-develop a breakthrough new lodging resort brand and concept for travelers seeking fun and adventure, "Nickelodeon Resorts by Marriott," with 20 potential hotels expected to be under construction by 2020.
The new upscale, self-contained destination resorts will be developed through a collaboration among Nickelodeon, the world's number-one entertainment brand for kids, with 35 channels reaching approximately more than 200 million households in 135 countries; Marriott International, which has nearly 2,900 hotels in 68 countries; and Miller Global Properties. Miller Global will have certain exclusive rights to develop and own the resorts in specified geographic areas, and plans to seed an investment fund that is expected to initially provide $300 million of dedicated development equity capital. All "Nickelodeon Resorts by Marriott" properties will be managed by Marriott.
The first "Nickelodeon Resorts by Marriott" property is expected to be a 650-room resort at Liberty Station in San Diego, which will incorporate a 100,000 square-foot water park and activity deck complex featuring a variety of pools and interactive attractions. Designed by Gensler, the well-known international architectural firm, the resort is expected to break ground in January 2008 and open in early 2010. Other potential resort locations being considered for development include major family-oriented destinations in the U.S., Caribbean and Mexican resort areas, the UK and Europe, Asia, Australia and the Middle East.
J.W. "Bill" Marriott, Jr., chairman and chief executive officer of Marriott International, said, "When you bring together the premier hospitality company with the number-one TV destination for kids and families, it's a winning combination for unbeatable resorts.
Besides being a great new family destination, we believe that 'Nickelodeon Resorts by Marriott' will attract younger adults, the young-at-heart, and meeting travelers, especially people who travel on business with their families. As younger boomers and Gen X'ers enter prime child-rearing years, their clear preference for seamlessly mixing business with leisure and family fun will mesh perfectly with the 'Nickelodeon Resorts by Marriott' concept," said Mr. Marriott.
Cyma Zarghami, President of Nickelodeon and MTVN Kids and Family Group, said, "This partnership with Marriott to bring the Nickelodeon experience to families all over the world comes at the perfect time, as the first generation of kids who grew up with our brand now have come of age and are having families of their own. Marriott knows hotels and business and leisure travelers, and no one knows kids and families like Nickelodeon. We know this will be a great combination, and it signals the beginning of a new era for the Nickelodeon brand."
"We are proud to have brought Nickelodeon and Marriott together, and are looking forward to the development of this new hotel concept," said Eyal Ofer, Co-Chairman of Miller Global Properties. "The Marriott and Nickelodeon partnership provides an extremely compelling investment opportunity by pairing the hotel industry leader with the top kids' entertainment brand. Together, we will create fantastic destinations that we are confident will be a great economic success."
"Nickelodeon Resorts by Marriott" will cater to families with children but will also appeal to fun-seeking business groups and individuals, creating a unique marriage of Marriott's superb hospitality with Nickelodeon's dynamic and trend-setting entertainment. Guests will experience Nick-themed resort activities throughout the hotel.
A signature component to each resort will be a wide variety of attractions ranging from state-of-the-art pools and water features (indoor water parks will be featured elements in cooler destination markets), plus live entertainment programs featuring popular costumed Nickelodeon characters like Dora the Explorer and SpongeBob SquarePants. "Studio Nick," a main stage theater space equipped with state-of-the-art lighting, sound and video will anchor the resorts' live entertainment programs. Studio Nick's innovative design will allow the resort to concurrently stage several different full- scale live productions for resort guests, and will also provide an unparalleled platform for daytime meeting events.
Resort guests will be pampered with convenient and luxurious onsite vacation services including a full service spa and fitness center, a variety of quality dining and lounge options, private poolside cabanas and an "adults only" lap pool. The hotels will also include meeting space and comprehensive business services designed to accommodate and appeal to group business. Group events will be managed by Marriott's professional meeting planners and the destination will offer facilities accommodating two 300-person groups, and incorporating, on average, 30,000 square feet of meeting space. During non- group meeting periods, these facilities will host "Nick after Dark" events, as well as themed parties.
Each individual "Nickelodeon Resorts by Marriott" will feature guest rooms and suites that cater to the unique needs of families including multi-bedroom suites, HDTV's and Marriott's new signature "plug in" technology. Pleasantly styled "kids' suites" will be themed with Nick's most popular hit properties creating an environment that kids will call home while staying at the resort.
In addition to a variety of restaurant options, the "NickToons Café" will provide a casual and friendly environment-the ideal setting for daily "character" breakfasts as well as special evenings. Buffet options and simple menu items will also be available, as well as a bustling "grab & go" area hosting chain food vendors offering a variety of meal choices, including healthy food options, and an on site convenience store for guests on the move.
Retail offerings will be a key element of the guest experience, with Nick- themed retail items available that are exclusive to the resort, as well as a "Nick Pix" photo studio and Nick.com Cyberzone, where kids and families can safely surf Nick.com and Nickjr.com content online, and view resort-specific information. A large game room featuring the latest and most popular video and traditional table top games will be available for all resort guests looking for added family entertainment and interaction.
The resort will encourage sophisticated adult interactions in the context of Marriott's new Social Business spaces that provide zones for activities ranging from checking email with a latte to meeting and chatting with friends and colleagues over drinks and light snacks.
Visit the press site, www.nickmarriottpress.com for more information.
About Marriott International, Inc.
Marriott International, Inc. is a leading lodging company with nearly 2,900 lodging properties in the United States and 67 other countries and territories. Marriott International operates and franchises hotels under the Marriott, JW Marriott, The Ritz-Carlton, Renaissance Club Sport, Residence Inn, Courtyard, TownePlace Suites, Fairfield Inn, SpringHill Suites and Bulgari brand names; develops and operates vacation ownership resorts under the Marriott Vacation Club, Horizons by Marriott Vacation Club, The Ritz- Carlton Club and Grand Residences by Marriott brands; operates Marriott Executive Apartments; provides furnished corporate housing through its Marriott ExecuStay division; and operates conference centers. The company is headquartered in Washington, D.C., and had approximately 151,000 employees at 2006 year-end. It is ranked as the lodging industry's most admired company and one of the best places to work for by FORTUNE(R). The company is also a 2006 U.S. Environmental Protection Agency (EPA) ENERGY STAR(R) Partner. In fiscal year 2006, Marriott International reported sales from continuing operations of $12.2 billion. IRPR#1
Nickelodeon, in its 28th year, is the number-one entertainment brand for kids. It has built a diverse, global business by putting kids first in everything it does. The company includes television programming and production in the United States and around the world, plus consumer products, online, recreation, books, magazines and feature films. Nickelodeon's U.S. television network is seen in almost 92 million households and has been the number-one- rated basic cable network for 12 consecutive years.
Globally, Nickelodeon is the world's most widely distributed kid's channel, reaching more than 200 million homes via 35 fully dedicated channels across Europe, Asia, Latin America, Africa and the Middle East as well as 19 programming blocks reaching 95 million households. Exclusive Nick content and programming can also be seen via the Network's 10 global mobile channels, 7 broadband services and 33 web sites.
Nickelodeon and all related titles, characters and logos are trademarks of Viacom Inc. (NYSE:VIA)(NYSE:and)(NYSE:VIA.B).
About Miller Global Properties, LLC
Miller Global Properties, LLC, one of America's most experienced real estate companies, develops, acquires, owns and operates hotels, office buildings and mixed-use properties throughout the United States and Europe. Since its inception in 1996, the company has been involved in more than 85 properties representing over $2.5 billion of asset value comprising 11 million square feet of office space and 3,300 hotel rooms. Miller Global is currently involved with Marriott in developing more than 1,650 rooms in a variety of other hotels throughout the United States. Prior to forming Miller Global, various principals were involved in the development, management and/or ownership of such prestigious hotels as The Lodge at Pebble Beach, The Inn at Spanish Bay, Aspen's Little Nell Hotel, The Beverly Hills Hotel, New York's Algonquin Hotel and Denver's Westin Tabor Center.
Note: This press release contains "forward-looking statements" within the meaning of federal securities laws, including statements about the number of resorts that will be opened in future years, the anticipated opening date for the San Diego property, expected features and amenities of future resorts, and similar statements concerning anticipated future events and expectations that are not historical facts. We caution you that these statements are not guarantees of future performance and are subject to numerous risks and uncertainties, including the duration and extent of growth in the economy and the lodging industry; supply and demand changes for hotel rooms, competitive conditions in the lodging industry; the availability of capital to finance hotel growth; the future competitive position of Nickelodeon, and other identified "Risk Factors" in Marriott International, Inc.'s and Viacom Inc.'s most recent annual reports on Form 10-K and quarterly reports on Form 10-Q; any of which could cause actual results to differ materially from those expressed in or implied by the statements herein. These statements are made as of the date of this press release, and we undertake no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.
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CONTACT: Joanna Roses of Nickelodeon, +1-212-846-7326; Gordon Lambourne,
+1-301-380-1368, or Tom Marder, +1-301-380-2553, both of Marriott