BETHESDA, Md., July 2, 2014 (GLOBE NEWSWIRE) -- Marriott International, Inc. (Nasdaq:MAR) announced today that the iconic Atlantis, Paradise Island resort will become part of its Autograph Collection, a rapidly growing exclusive portfolio of over 60 independent hotels in key locations across the globe. Regarded as the premier destination resort in The Bahamas and Caribbean, the 3,400 room Atlantis, Paradise Island will operate under a franchise agreement with Marriott and benefit from the company's global sales and reservations organization, 45-million member Marriott Rewards loyalty program and Marriott.com which generates more than $9.6 billion in gross room bookings annually. Atlantis marks the collection's first member resort in The Bahamas and will be the largest hotel in the portfolio. The property, owned by Brookfield Asset Management and independently managed, is expected to officially join the Autograph Collection in the fall.
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"Having Atlantis, Paradise Island join our Autograph Collection is a milestone achievement for the brand and the company," said Arne Sorenson, president and CEO of Marriott International, Inc. "We are excited to partner with Brookfield and put the full power of Marriott behind one of the world's most spectacular and popular resorts, while adding to our global resort portfolio in a key destination where we know our guests want to travel."
"This is a significant milestone for us today as Marriott International not only marks its entry into the Bahamas, but also celebrates our 80th hotel in the Caribbean and Latin America's rapidly growing portfolio," said Craig Smith, president of the Caribbean and Latin America region for Marriott International. "This is an exciting time for hotel development in the region, where we have over 50 hotels under development and expect to offer more than 150 hotels by 2017 across ten lodging brands in 27 countries and territories."
"This agreement to partner with the Autograph Collection could arguably be the single most significant tourism stimulus for The Bahamas in this decade. This strategic and beneficial partnership will help grow visitation of Marriott International loyalists to the country and open a broader channel for guests to visit Atlantis from around the world," said George Markantonis, president and managing director of Brookfield Hospitality and Atlantis, Paradise Island.
Atlantis is a unique, ocean-themed destination offering a variety of guest accommodations; 40 restaurants, bars and lounges to satisfy any palate; the largest and most exciting casino in The Bahamas; extensive meeting facilities; and a marina capable of handling yachts of any size, all built around a 141-acre waterscape comprised of fresh and saltwater lagoons, pools and habitats. Atlantis rises magically from the turquoise lagoons and blue Atlantic of The Bahamas, and is known worldwide as a resort destination that has truly redefined entertainment and gaming in the tropics.
The addition of Atlantis, Paradise Island is the latest example of Marriott's aggressive strategy to grow its lifestyle portfolio and inspire many of the world's premier properties to partner with Autograph Collection. Across all its brands in 2013, Marriott International opened nearly 26,000 new rooms, signed a record 387 projects with 67,000 rooms, and at year end had more than 195,000 rooms under development across five continents. Fueling this success is Marriott's extensive portfolio of 18 brands, the broadest in the lodging industry. Nearly 25 percent of the company's overall development pipeline is in the luxury and lifestyle category, with plans to add more than 200 hotels over the next several years reflecting more than $15 billion of investment by owners and franchisees.
Atlantis will operate under a long term franchise agreement and Marriott will provide a $100 million mezzanine loan to the project.
The vision behind the Autograph Collection is to offer an evolving group of passionately independent hotel experiences ranging from a 15-room boutique hunting lodge in the mountains of Colorado to a 19th century neoclassical palace in the majestic city of Prague. Exactly like nothing else, each hotel is thoughtfully chosen for its quality, originality, bold character and capacity to offer today's modern traveler a range of unique experiences suited to their individual sense of style and adventure. While still relatively new, the distinct portfolio has proven to be a highly successful venture due to its discerning selection process and unique ability to create memories through enriching travel experiences.
Atlantis, Paradise Island will be available on Marriott International's booking channels this fall. For bookings at the resort from now until that time, please visit www.atlantis.com, contact your local travel agent or call 800-ATLANTIS.
To celebrate their debut on Instagram, Autograph Collection has launched a summer competition to highlight the best of the season through photography. Entrants are being encouraged to share a photo of their favorite travel essential with hash tag #summerautograph to qualify for the grand prize of a trip for two to New York City's Carlton Hotel. Additional prizes will also be awarded throughout the summer season. Visit: www.summerautograph.com for more details.
About Atlantis, Paradise Island resort, The Bahamas
Atlantis, Paradise Island is a unique, ocean-themed destination located on Paradise Island, The Bahamas, and features a variety of accommodations, all built around a 141-acre waterscape comprised of over 20 million gallons of fresh and saltwater lagoons, pools and habitats. Home to the largest open-air marine habitat in the world, there are over 50,000 marine animals in lagoons and displays, including The Dig, a maze of underwater corridors and passageways providing a journey through ancient Atlantis. Atlantis is home to Aquaventure, a non-stop water experience consisting of thrilling water slides, a mile-long river ride with high intensity rapids and wave surges, and never-before-seen special effects. Dolphin Cay, the resort's interaction and education center, was created with the goal of enlightening visitors about the wonders of these remarkable ocean inhabitants.
The Cove Atlantis, a 600-room resort, features oversized rooms with a step down living space, spectacular designs by acclaimed interior architects Jeffrey Beers and David Rockwell, unprecedented services and amenities, private all-adult and family pools, lavish cabanas and breathtaking views of the ocean. Atlantis is also known as THE culinary destination in The Caribbean with a collection of restaurants from world-renowned chefs including Nobu Matsuhisa, Jean-Georges Vongerichten, Bobby Flay and Todd English. The resort boasts an impressive collection of luxury boutiques and shops, casino, and the largest conference center, meeting and convention facilities in The Caribbean.
For further information about Atlantis, Paradise Island; call 954-809-2000 or visit Atlantis.com. For reservations, call your travel agent or 800-ATLANTIS.
Both low and high resolution color photography of Atlantis, Paradise Island is available at news.atlantis.com. If you are a new user to this site, please complete the online registration to be granted access to the online newsroom. Atlantis can be found on Facebook at www.facebook.com/Atlantis and on Twitter at www.twitter.com/AtlantisResort.
About Autograph Collection
The Autograph Collection is an evolving ensemble of strikingly independent hotels. Exactly like nothing else, each destination has been selected for its quality, bold originality, rich character and uncommon details. From near to far, iconic to historic, the result is an array of properties that is nothing less than unique, nothing short of collectively exceptional. For more information please visit www.autographhotels.com, or explore our social media channels to learn more about championing the independent spirit:
Marriott International, Inc. (Nasdaq:MAR) is a global leading lodging company based in Bethesda, Maryland, USA, with more than 4,000 properties, and more than 690,000 rooms in 78 countries and territories. Marriott International reported revenues of nearly $13 billion in fiscal year 2013. The company operates and franchises hotels and licenses vacation ownership resorts under 18 brands. Marriott has been consistently recognized as a top employer and for its superior business ethics. The company also manages the award-winning guest loyalty program, Marriott Rewards® and The Ritz-Carlton Rewards® program, which together surpass 45 million members. For more information or reservations, please visit our website at www.marriott.com, and for the latest company news, visit www.marriottnewscenter.com.
Brookfield Asset Management Inc. is a global alternative asset manager with over $175 billion in assets under management. The company has over a 100-year history of owning and operating assets with a focus on property, renewable power, infrastructure and private equity. It has a range of public and private investment products and services, which leverage its expertise and experience and provide Brookfield with a competitive advantage in the markets where it operates. Brookfield is co-listed on the New York and Toronto stock exchanges under the symbol BAM and BAM.A, respectively, and on NYSE Euronext under the symbol BAMA. For more information, please visit our website at www.brookfield.com.
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Source:Marriott International, Inc.