Press Release
July 17, 2001
ORLANDO, FL -- Marriott Vacation Club International (MVCI), the Vacation Ownership division of Marriott International,
Inc. (NYSE:MAR), unveiled today a new brand of fractional ownership resorts within its portfolio – Marriott Grand
Residence Club. The brand combines the advantages of second home ownership with the services and amenities of
a fine resort, as well as the benefits of exchange to worldwide destinations.
As the recognized, worldwide leader in the industry, MVCI possesses an extensive portfolio of Vacation Ownership
brands. Marriott Grand Residence Club is now the fourth brand to join MVCI, which include: Marriott Vacation
Club International (51 resorts), The Ritz-Carlton Club (four properties) and Horizons by Marriott Vacation Club
(three properties).
“Marriott Grand Residence Club is a great complement to our already diverse collection of Vacation Ownership brands,”
said Stephen P. Weisz, president, Marriott Vacation Club International. “Our objective is to offer consumers a
variety of vacation experiences to best suit their needs. With the addition of Marriott Grand Residence Club,
it offers another tremendous alternative to second home ownership.”
Located in South Lake Tahoe, Calif., the first resort – Marriott Grand Residence Club, Lake Tahoe (formerly the
Grand Summit Resort Hotel) – was acquired in May as an undeveloped resort by MVCI from American Skiing Company
(NYSE:SKI). The 199-villa, quarter ownership property is conveniently situated in the heart of the city and adjacent
to the world-renowned Heavenly Ski Resort with a new high-speed gondola, as well as the MVCI project, Marriott’s
Timber Lodge. Targeted to open in November 2002, the two new resorts are key components of Lake Tahoe’s Park Avenue
Redevelopment Plan, which is intended to revitalize and promote growth in the area while protecting the environment.
The ownership structure for Marriott Grand Residence Club, Lake Tahoe gives owners one week every 28 days, based
on a rotation calendar. Additionally, each owner gains a consecutive two-week period (including Christmas and
New Year’s periods) once every fourth year. Owners have the option of taking advantage of “space available” privileges
during non-ownership stays, the use of resort amenities regardless if the owner is staying at the property and
the ability to rent their unit if they choose. The ownership framework and amenities for future properties will
vary based on consumer and market demand.
Marriott Grand Residence Club, Lake Tahoe quarter ownership prices for studio, one-, two- and three-bedroom units,
as well as penthouses, currently range in price from $83,900 to $550,000 per interest (based on unit type). Floor
plans vary in size from 360 – 2,496 square feet of living space. The resort will also be available to travelers
for nightly accommodations – consistent with Marriott Vacation Club International and Horizons brands.
Owners and guests will enjoy access to the resort amenities of Marriott Grand Residence Club, Lake Tahoe, including:
For more information on Marriott Grand Residence Club, Lake Tahoe ownership opportunities, please call (877)
45-GRAND or (877) 454-7263.
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Ed Kinney / Beth Vairo Nadine DeGenova Marriott Vacation Club International Nadine DeGenova Public Relations (407) 206-6278 / (407) 513-6671 (407) 682-2625 ed.kinney@vacationclub.com degenova.pr@mindspring.com beth.vairo@vacationclub.com www.prproof.com