The Ritz-Carlton Hotel Company, L.L.C. announced its plans to move its corporate headquarters to Montgomery County, Maryland by the summer of next year, the company said today. The Ritz-Carlton will move to benefit from ease of business in being closer to its parent company, Marriott International, Inc. MAR, while maintaining its distinct brand of luxury hospitality.

The Ritz-Carlton Hotel Company, which enjoys a reputation as one of the leading luxury hotel companies and brands worldwide, has begun a process to select an appropriate headquarters location within Montgomery County from which to manage its nearly 50 luxury hotels and resorts in 17 countries. A decision is expected within the next three months. The Ritz-Carlton is currently based in Atlanta, Georgia.

Since its incorporation in 1983, The Ritz-Carlton Hotel Company, L.L.C. has received all the major awards the hospitality industry and leading consumer organizations can bestow, including the prestigious Malcolm Baldrige Award presented by the U.S. Department of Commerce.

Approximately 140 employees are currently located at The Ritz-Carlton headquarters, all of whom have been given the opportunity to relocate with the company to Montgomery County. At this time it is not known how many will choose to do so.

J.W. Marriott, Jr., chairman and chief executive of Marriott International, said, "We are pleased to welcome The Ritz-Carlton to Montgomery County. We are most grateful for the efforts of Gov. Glendening, Lt. Gov. Townsend and County Executive Duncan and those of their top staffs, particularly state and county business development directors David Iannucci and David Edgerley, to build a strong business climate."

"We are extremely pleased that The Ritz-Carlton has decided to relocate its corporate headquarters to Maryland," said Governor Parris N. Glendening. "This is another demonstration of how our highly educated workforce and high quality of life are exactly what companies look for when decisions are made. Over the years, we have worked to develop a strong partnership with Marriott and its subsidiaries and this relocation decision on their part reflects the strength of their commitment to maintain and expand their business in Maryland."

"Marriott has been an outstanding corporate citizen for Maryland for almost 50 years and we are delighted they have decided to establish The Ritz-Carlton corporate headquarters in Maryland," said Lt. Governor Kathleen Kennedy Townsend, Chair of the Governor's Cabinet Council on Business, Economic Development and Transportation. "Our support of Marriott over the years has gained us an outstanding corporate partner and their decision to expand is a testament to the Maryland's reputation as not only a great place to do business, but also an outstanding place to live."

"I'm delighted that Ritz-Carlton will be joining Marriott International in calling Montgomery County home," said County Executive Douglas M. Duncan. "Marriott has been one of the crown jewels in Montgomery County's corporate community for many years, and we are pleased that The Ritz-Carlton will be joining them here. It demonstrates again that Montgomery County is a great place to do business."

Simon Cooper, president and chief operating officer of The Ritz-Carlton Hotel Company said, "We are delighted to move to Montgomery County, a superb address for our company. The move will increase efficiencies in behind-the-scenes support operations while we continue to build upon our company's independent, best-in-the-world class of service and unsurpassed luxury."

MARRIOTT INTERNATIONAL, INC. 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.

Stephanie Platt
404/237-5500
Marriott