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Marriott ExecuStay Corporate Housing Business in Chicago through a Franchise Agreement |
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| Washington, D.C. � Dec. 2, 2004 � Marriott ExecuStay, the corporate
housing division of Marriott International, Inc. (NYSE:MAR), today announced
that Chicago Corporate Housing Partners, LLC, an entity created by Washington,
D.C.-based Potomac Hospitality Services, will operate the brand�s corporate
housing business in Chicago through a franchise agreement that became effective
Dec. 1.
This is the third Marriott ExecuStay franchise for Potomac Hospitality Services, through its related entities, which has operated Marriott ExecuStay in Center City, Philadelphia since June, 2003 and in Hartford since April, 2004. The principals of Potomac Hospitality Services, a corporate housing and real estate development company, are Conrad Cafritz, a well-known developer in the Washington D.C. area who founded the company in 1976; and Don Minkler, who serves as the company�s president. Mr. Minkler has over 20 years of hotel and marketing experience, including eight years with Marriott in various leadership roles. For 25 years, Potomac Hospitality Services has been involved in the development, ownership and management of more than 4,000 hotel rooms and, more recently, corporate apartments, primarily in the Mid-Atlantic region. Mr. Minkler said, �Given our very positive corporate housing franchise experience with Marriott ExecuStay in two such corporate markets, Center City and Hartford, we see Chicago as a great addition to our portfolio.� Joe Lavin, executive vice president and managing director of Marriott ExecuStay, said, �Potomac Hospitality has a proven track record both with Marriott ExecuStay and with Marriott in general. Their taking over this very important market will ensure that our guests in Chicago receive the very best combination of superb service and corporate apartment accommodations.� Mr. Lavin added that Potomac Hospitality Services received recently received Marriott ExecuStay�s Partnership Circle Award, the highest honor awarded to franchisees, at ExecuStay�s Annual Franchise Conference in October. Marriott ExecuStay (www.execustay.com) offers travelers who require stays of 30 days or more the spaciousness and privacy of apartment living in 44 U.S. markets. Marriott ExecuStay is part of Marriott International�s extended-stay lodging portfolio, which also includes Residence Inn, TownePlace Suites and Marriott Executive Apartments. Marriott International provides fully furnished corporate apartments throughout the United States, Europe, Great Britain and Asia through its Marriott ExecuStay and Marriott Executive Apartments brands. Marriott International, Inc. is a leading worldwide hospitality company with over 2,800 lodging properties, totaling over 505,000 rooms, including over 8,500 vacation ownership villas, in the United States and 69 other countries and territories. |
| Contact:
Dee Dee Dochen
Gregory Laubach
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