Originally Posted by
leeky
sorry, but I don't keep much stock in Marriott press releases since they seem to never clarify or retract changes post news release (ie. last year they announced a JW to be built in Pattaya/Jomtien - never gonna happen)
Marriott did a press release re: the 5 properties. You mentioned the 5 properties & your verbiage was pretty close to the press release verbiage.
I'm confused on why you aren't putting stock in the press release. At the time of the press release the information by Marriott & the other organization was accurate. Also, this is at the bottom of the press release:
Note on forward looking statements
The anticipated numbers of Marriott hotels to be rebranded in Japan are “forward-looking statements" within the meaning of United States federal securities laws, not historical facts, and are subject to a number of risks and uncertainties, including supply and demand changes for hotel rooms; competitive conditions in the lodging industry; the availability of capital to finance hotel growth; and other risk factors identified in Marriott International, Inc.'s most recent annual report on Form 10-K; any of which could cause the actual numbers or locations of new hotels to be different. These statements are made as of the date of this press release, and Marriott International undertakes no obligation to publicly update or revise them or any forward-looking statements, whether as a result of new information, future events or otherwise.
Also in the release, "These agreements are part of Marriott International’s strategic expansion plans across Asia and aim to meet the needs of the rapidly growing number of inbound travelers into Japan."
"Mori Trust Group will renovate five existing Laforet properties and rebrand them as Marriott Hotels, offering approximately 840 rooms. The agreements between the two companies extend a relationship that has seen the successful opening of the Tokyo Marriott Hotel, Courtyard by Marriott Tokyo Station Hotel and Courtyard by Marriott Shin-Osaka Station Hotel. Both companies look forward to further expanding their partnership."
Anyway, the bottom line is that it will be nice to have more options in Japan.
When they get rebranded/open I'll add them to the exec lounge sticky.
Cheers.