BENCHMARK® To Operate New Delta by Marriott Hotel And Convention Center in Allen, Texas, Opening 2018

The Woodlands (Houston), Texas -- BENCHMARK®, a global hospitality company, announced today that it will operate the new Delta by Marriott Hotel and Watters Creek Convention Center, currently being constructed in the city of Allen, Texas, north of Dallas. The Four Star, full-service hotel and convention center is scheduled to open in late 2018.

Developed by Altera Development, the project will feature 300 guest rooms, 90,000 square feet of flexible convention, ballroom, and meeting space and 1,000 parking spaces, making it one of the largest facilities of its kind in North Texas. Located steps away from mixed-use center Watters Creek at Montgomery Farm, visitors will enjoy easy access to a variety of high-end shopping and dining options.

Delta by Marriott is Marriott's newest upscale, full service hotel brand, with 37 existing hotels in the U.S. and Canada and 23 in the delivery pipeline. The 300 premium guest rooms will feature a fresh, streamlined design. An upscale restaurant and a destination bar, located adjacent to an outdoor courtyard with swimming pool, are designed to allow guests to meet, entertain, and unwind. The Delta focus on upscale essentials includes a 24 Hour Elite Pantry, a fitness center with cardio, weights, yoga and crossfit, free WiFi, and bottled water available on every floor.

"We are extremely proud to be managing and marketing what will be an ultra-modern Delta Hotel," said Alex Cabañas, CEO of Benchmark, the facility's operator. "This is an exciting and contemporary new brand in the midst of rapid expansion, and we are proud to have it as part of our management portfolio."

The hotel and convention center are being developed largely in response to Allen's explosive corporate office growth. "With new corporate facilities being built by companies like WatchGuard Video and KONE, Allen has become a Class A office market," said Dan Bowman, Executive Director of the Allen Economic Development Corporation. "The delivery of these high-end meeting facilities and amenities is already attracting more of these corporate tenants."

Located just north of Dallas off U.S. Highway 75, Allen combines the big city amenities with small-town hospitality. Meeting planners will find sophisticated conference services and spectacular climate that allows for year-round recreational opportunities, including the exceptional Golf Courses at Watters Creek. Entertainment venues, outlet shopping and great dining draw both business and leisure travelers. Allen is located within 30 miles of Dallas Fort Worth International and Dallas Love Field, with McKinney National Airport eight miles to the North.

"The Allen EDC under Dan Bowman's leadership provides tremendous resourcefulness and creativity that make projects like ours project a reality," said Mike Kennedy, Principal at Altera Development. "The City of Allen Leadership's highly successful program of value creation was something that our bankers, Bill Schonacher and William Woodring at IBC, immediately recognized. The City of Allen, Allen Economic Development Corporation and Allen Community Development Corporation are jointly investing in the project.

The Allen Convention & Visitors Bureau will relocate to the facility. "The new convention center and hotel will provide the City of Allen with the capability to host larger meetings, sporting events, trade shows and conferences, generating revenue and tax dollars that benefit our community," said Karen Cromwell, Director of the Allen Convention & Visitors Bureau.

About Altera Development

Founded in 2002, Altera Development creates high value real estate solutions for its investors and partners. Altera acquires, develops and manages properties in select markets across the United States, with integrity and value as guiding principles. Altera's integrated project management and development teams provides the capability to deliver hospitality, corporate office, industrial and retail developments. www.alteradevco.com

About Marriott International

Marriott International, Inc. (NASDAQ: MAR) is a global leading lodging company based in Bethesda, Maryland, USA, with more than 4,400 properties in 87 countries and territories. Marriott International reported revenues of more than $14 billion in fiscal year 2015. The company operates and franchises hotels and licenses vacation ownership resorts under 19 brands. For more information or reservations, please visit our website at www.marriott.com, and for the latest company news, visit www.marriottnewscenter.com.

About IBC Bank

IBC Bank and Commerce Bank are members of International Bancshares Corporation (NASDAQ: IBOC), an $11.8 billion multi-bank financial holding company headquartered in Laredo, Texas celebrating 50 years in banking since its founding in 1966. International Bancshares Corporation consists of 194 facilities and 307 ATMs serving 87 communities in Texas and Oklahoma. In 2017, International Bancshares Corporation was ranked 46th on Forbes' prestigious list of 100 Best Banks in America. IBC Bank's commitment to "Do More" reflects the bank's dedication to the growth and success of both the customers and the communities it serves. www.ibc.com

About Allen Economic Development Corporation

The Allen Economic Development Corporation (AEDC) is funded through a citywide half-cent sales tax and charged with facilitating company relocations and assisting the expansion of existing businesses, which creates jobs and generates additional tax revenue to the community. Today, Allen's total ad valorem tax base exceeds $8.5 billion. Recently, the AEDC was instrumental in recruiting KONE Elevators, MonkeySports and CVE Technology to locate offices in Allen. http://www.allentx.com/

About Allen Convention and Visitors Bureau

The Allen Convention & Visitors Bureau (ACVB) is tasked with marketing Allen as a destination for conventions, events and tourism. ACVB has been instrumental in bringing meetings and events to Allen. Due in part to their efforts, spending on travel in Allen has increased from $40 million in 2002 to $151 million in 2013. http://www.visitAllenTexas.com

About Allen Community Development Corporation

The Allen Community Development Corporation (ACDC) is funded through a citywide half-cent sales tax and is charged with overseeing the funding for land, buildings, equipment and improvements which are suitable for professional and amateur athletics, entertainment and tourism, parks and public spaces, transportation and other projects which promote new or expanded business enterprises.

About Pyramid Global Hospitality

Pyramid Global Hospitality, a leading third-party hospitality management company, is the powerhouse brand behind an inspired collection of forward-thinking professionals providing powerful solutions to some of the world's best hotels and resorts. Formed by the 2021 merger of three hotel and resort management companies, the organization's global portfolio now spans more than 240 properties across the U.S., Caribbean and Europe, with offices in Boston; The Woodlands, Texas; Cincinnati; and London. For more information, visit www.PyramidGlobal.com

Ken Ellens
Ken Ellens Communications
+1 201 758 2864
Pyramid Global Hospitality