Gulph Creek Hotels Opens 127-room Courtyard by Marriott in Great Valley Corporate Center, East Whiteland Township, Pennsylvania

SEPTEMBER 28, 2007

John Wolf
Marriott International
Douglas C. McBrearty
Gulph Creek Hotels
Patti Shores, Director of Sales
Courtyard Great Valley/Malvern


Gulph Creek Hotels Opens 127-room Courtyard by Marriott in Great Valley Corporate Center, East Whiteland Township, Pennsylvania

Wayne, PA, September 28, 2007 — Gulph Creek Hotels, a leading Philadelphia hotel development and management company, today opened a 127-room Courtyard by Marriott hotel located on State Route 29 at Quarry Ridge, 280 Old Morehall Road, in East Whiteland Township, PA.
The hotel is an integral part of the expansion of the Great Valley Corporate Center, a 5,000,000 square-foot office park, owned by Liberty Property Trust. The Great Valley Corporate Center houses over 50 biotech and pharmaceutical companies, a branch of Pennsylvania State University and a total workforce of approximately 20,000 people.
The new, five story Courtyard by Marriott provides visitors to the Great Valley/Malvern area with a full complement of services and amenities including 400 square feet of meeting facilities, a business library featuring individual workstations with high-speed data ports, an indoor swimming pool with whirlpool spa, a fitness center and laundry service. All guest rooms include a work desk, two telephone lines with data ports, free internet access, iron with ironing board, hair dryer, coffee maker and a 32″ LCD, high-definition television with a free premium movie channel. Bertucci’s, a restaurant adjacent to the hotel, will begin construction later this year and open in July 2008.
“Our success is based on building and managing the best hotel brands; and we are pleased to be constructing and managing another Courtyard by Marriott,” said L. Clarke Blynn, CEO of Gulph Creek Hotels. “This is an ideal time for us to enter the Great Valley/Malvern market, which has an expanding demand for lodging options and, up until now, has had no Marriott hotels. We expect that our unique management style will provide an exceptional accommodation experience to corporate and leisure travelers.”
Courtyard by Marriott is the leading select-service hotel brand in the United States. Providing guests with a combination of casual comfort and time saving services, Courtyard hotels feature large functional guest rooms and are conveniently situated where people travel. All Courtyards now offer free high-speed Internet services to guests. Locations range from airports and office parks to downtown areas and recreational destinations. Several locations feature revitalized historical buildings. Courtyard has more than 600 hotels worldwide, including properties in the U.K., Germany and China. Courtyard participates in the company’s award-winning Marriott Rewards® frequent guest program. Members earn their choice of points toward free vacations or frequent flyer mileage for dollars spent at more than 2,300 Marriott hotels worldwide.
Gulph Creek Hotels is recognized as the leading hotel management company in the Philadelphia area. Gulph Creek’s portfolio of owned and managed hotels continues to outperform the market and exceed financial return expectations. Gulph Creek Hotels was founded in 1996 and currently manages eight Hilton and Marriott branded hotels in Pennsylvania and New Jersey
Gulph Creek Hotels’ principal equity investor in this project is Grosvenor Investment Management US, Inc. located in King of Prussia. Grosvenor acts as a fiduciary and investment manager for pension funds. Their lender, ING Investment Management, provided the construction and permanent financing for this transaction.

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MARRIOTT INTERNATIONAL, INC. (NYSE:MAR) is a leading lodging company with more than 2,600 lodging properties in the United States and 65 other countries and territories. Marriott International operates and franchises hotels under the Marriott, JW Marriott, The Ritz-Carlton, Renaissance, Residence Inn, Courtyard, TownePlace Suites, Fairfield Inn, SpringHill Suites, and Bulgari brand names; develops and operates vacation ownership resorts under the Marriott Vacation Club International, Horizons, The Ritz-Carlton Club and Marriott Grand Residence Club brands; operates Marriott Executive Apartments, provides furnished corporate housing through its Marriott ExecuStay division; and operates conference centers. The company is headquartered in Washington, D.C., and has approximately 133,000 employees. It is ranked as the lodging industry’s most admired company and one of the best places to work for by Fortune® magazine. In fiscal year 2004, Marriott International reported sales from continuing operations of $10 billion. For more information or reservations, please visit our web site at