Marriott Grand Residence Club assumed management of the existing 47 Park Street Hotel earlier last week. Located in the heart of London's Mayfair district and only minutes from Hyde Park, the intimate 49-residence property represents the latest addition to Marriott's diverse fractional ownership portfolio around the globe.
"Marriott Grand Residence Club, Mayfair-London continues a long-standing tradition of excellence at 47 Park Street," said Marc Topiol, Regional Vice President, Resort Development, Marriott Grand Residence Club. "After a careful search, we chose a location which will no doubt prove to be a desirable second home alternative for London's most discerning travelers."
The property will continue to operate as a luxury hotel in the manner of service to which guests have become accustomed. Amenities include 24-hour room service and full concierge assistance providing for transportation and leisure needs.
Targeted to open for initial owner occupancy spring 2003, Marriott Grand Residence Club, Mayfair-London, will provide convenient second home ownership as an alternative to conventional whole ownership with the full flexibility, services and amenities of a fine hotel, and the further benefit of exchange to worldwide destinations. Nightly accommodations will remain available for rent even after the property is sold-out, as owners exercise their various usage options.
Upon completion of a refurbishment later this year which will maintain and enhance its traditional character, the property will possess 33 one-bedroom and 16 two-bedroom residences ranging in size from 710 to 1,108 square feet (66 to 103 square meters). Ownership prices range from $122,200 (85,000 pounds Sterling) to $291,500 (202,800 pounds Sterling) per 28-day fractional interest, based on residence type and season.
For further information, please call Marriott Grand Residence Club within the U.S. at 866-204-7263 or email info.london@grandresidenceclub.com .
MARRIOTT INTERNATIONAL, INC.
[NYSE:
MAR]
, a leading worldwide hospitality company celebrating its 75th Anniversary in 2002, has nearly 2,600 operating units in the United States and 64 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. Other Marriott businesses include senior living communities and services, and wholesale food distribution. The company is headquartered in Washington, D.C., and has approximately 142,500 employees. In fiscal year 2001, Marriott International reported systemwide sales of $20 billion. For more information or reservations, please visit our web site at
www.marriott.com .
SOURCE: Marriott International, Inc.
