Company Press Release: Lerner Enterprises
December 15, 1999
DULLES, VA -- Lerner Enterprises broke ground yesterday on the Dulles Courtyard, Mariott's moderately priced lodging
product. The 156 room hotel will be located in Dulles Town Center at Routes 7 and 28 in Dulles, Loudoun County,
Virginia.
The hotel will be built by Herman/Stewart Construction of Lanham, Maryland. Lerner Enterprises of North Bethesda,
Maryland will own and develop the project and Marriott Lodging of Bethesda, Maryland will manage the hotel for
the owner.
Once complete the Dulles Courtyard will employ 40 to 45 full and part-time local employees. Hotel amenities include
indoor swimming pool and whirlpool spa, a fitness center, two meeting rooms, a restaurant serving a delicious breakfast
buffet and a quiet lounge. The hotel is scheduled to open by the fall of 2000.
The Dulles Courtyard is located within Dulles Town Center, a 554 acre mixed-use project now under development in
Dulles, Virginia. The project will include:
* Dulles Town Center Mall, a 1.2 million square foot super-regional mall
which opened in April, 1999.
* 1,100 residencies including Colonnade Townhomes, Remington, a 406 unit
luxury apartment home community now under construction and a future 400
unit apartment community.
* 4.5 million square feet of office space known as The Corporate Office
Park at Dulles Town Center.
* A KinderCare Learning Center opened in May, 1999.
* A 30 million dollar road network is complete.
Since 1983, when the first Courtyard opened, the hotel brand has grown to over 450 Courtyard hotels, including
more than 415 nationwide and 34 in Australia, Canada, China, France, Germany and the United Kingdom.
Lerner Enterprises, founded by Theodore N. Lerner, is one of Washington, D.C.'s largest real estate developers
and is involved in all phases of commercial and residential real estate including planning, development, construction,
leasing, asset management and property management. The company's hotel portfolio also includes the Greenbelt Marriott
Hotel and Conference Center in Greenbelt, Maryland.
Additional information is available on the following web sites:
* Lerner Enterprises at www.lernerenterprises.com
* The Corporate Office Park at Dulles Town Center at
www.dullestowncenter.com
* Dulles Town Center Mall at www.shopdullestowncenter.com
* Remington Apartments at www.remingtonatdtc.com
* Colonnade Townhomes at www.oakhillproperties.com
* Courtyard by Marriott Hotels at www.courtyard.com or
www.mariott.com
Note: MARRIOTT INTERNATIONAL, INC. (NYSE: MAR) is a leading worldwide hospitality company with over 1,900 operating
units in the United States and 56 other countries and territories. Marriott Lodging operates and franchises hotels
under the Marriott, Ritz-Carlton, Renaissance, Residence Inn, Courtyard, Towne Place Suites, Fairfield Inn, SpringHill
Suites and Ramada International brand names; develops and operates vacation ownership (timeshare) resorts under
the Marriott, Ritz-Carlton and Horizons brands, operates executive apartments and conference centers, and provides
furnished corporate housing through its ExecuStay by Marriott division. Other Marriott businesses include senior
living communities and services, wholesale food distribution, and procurement services. The company is headquartered
in Washington, D.C. and has approximately 140,000 employees. In fiscal year 1998, Marriott International reported
total sales of $8.0 billion.
SOURCE: Lerner Enterprises