MARRIOTT INTERNATIONAL BUYS AN INTEREST IN BIZTRAVEL.COM
Source: Marriott International, Inc.
August 10, 1999
WASHINGTON, D.C. -- Marriott International, Inc. (MAR/NYSE) has announced that it has partnered with Rosenbluth
International, the travel management company with the second largest presence in the world, as a strategic investor
in Rosenbluth's acquisition of Biztravel.com, the award-winning Web site for booking and planning business travel.
Marriott opened its e-commerce distribution channel three years ago and has enjoyed remarkable success. Last year,
this channel generated $50 million in revenue for the company. By investing in Biztravel.com, Marriott expects
to gain another perspective into the growing world of internet-based travel planning.
"We are delighted that Rosenbluth International approached us to be a partner," said Bruce Wolff, Marriott's
senior vice president of distribution sales and marketing. "This is a tremendous business opportunity for
Marriott to invest in a rapidly expanding industry and enhance Marriott's knowledge of e-commerce travel."
Wolff noted that as more and more people are buying travel on the Internet, it is imperative for Marriott International's
business that we understand what brings customers to a travel site and what other services we should be offering
on www.marriott.com.
"Marriott is a marquis hotel corporation, and a world-class brand, which is demonstrative of the types of
companies Rosenbluth International wanted to be affiliated with this venture," said Hal Rosenbluth, president
and CEO of Rosenbluth International.
Under the terms of the acquisition of Biztravel.com, Rosenbluth International will maintain the site and establish
a new company, Rosenbluth Interactive, under the broader charter of personal and business travel to be an affiliate
of Rosenbluth International. Rosenbluth Interactive combines the convenience and accessibility of the Web with
a high standard of customer service. The new company will feature two Web sites: Biztravel.com for self-managed
business travel, and a yet-to-be launched consumer site, which will focus on personal travel. A final name for
the company will be determined in the coming weeks.
Rosenbluth International holds a majority ownership in this venture. In addition to Marriott, strategic investors
from the travel, technology and online industries will hold a stake and participate on the board of the new corporation.
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CONTACT:
Denise Kiker
Tel: 301-380-1303
Fax: 301-380-4684
E-mail: denise.kiker@marriott.com
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MARRIOTT INTERNATIONAL, INC. (MAR/NYSE) is a leading worldwide hospitality company with over 1,900 operating units
in the United States and 55 other countries and territories. Marriott Lodging operates and franchises hotels under
the Marriott, Ritz-Carlton, Renaissance, Residence Inn, Courtyard, TownePlace Suites, Fairfield Inn, SpringHill
Suites and Ramada International brand names; develops and operates vacation ownership (timeshare) resorts under
the Marriott and Horizons brands, 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.
Copyright © 1997-1999 Marriott International, Inc. All Rights Reserved.