Moxy Hotels to Debut in Eastern Europe with Development of the 130-room Moxy Tbilisi, Georgia
April 23, 2015 10:07am
GMT Group has partnered with Overseas Private Investment Corporation (OPIC), a government agency, to provide USD25 million for the construction of the hotel which will be part of new retail and office development around Saarbrucken Square. The hotel will be situated in a prime location close to the River Mtkvari and a short drive from the historic city centre with its picturesque cafes and restaurants, popular with both tourists and business travellers.
NOTE: The statements about the future addition of hotels to Moxy Hotels are “forward looking statements" within the meaning of 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; relationships with clients and property owners; the availability of capital to finance hotel growth; and other risk factors identified in Marriott International, Inc.'s most recent quarterly report on Form 10-Q; any of which could cause actual results to differ materially from those expressed in or implied by our statements. These statements are made as of the date of this press release, and we undertake no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.
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Moxy Hotels is the latest addition in a growing luxury and lifestyle brand portfolio at Marriott International. Each brand is positioned to serve today’s savvy traveller by delivering high design and technology forward experiences at every price point. Marriott International’s luxury and lifestyle brands portfolio currently includes The Ritz-Carlton Hotel Company, EDITION, JW Marriott Hotels & Resorts, Autograph Collection, Renaissance Hotels, AC Hotels by Marriott, Bulgari and Moxy Hotels. Accounting for 25 percent of the company’s system wide pipeline, Marriott expects to add more than 200 luxury and lifestyle hotel projects over the next several years, reflecting over $15 billion of investment by the company’s owners and franchisees. Across Marriott’s entire portfolio of brands, the company expects to surpass one million rooms open or in development by the end of 2015.
Moxy Tbilisi will participate in Marriott Rewards, an award-winning loyalty programme with over 50 million members worldwide.
Marriott International, Inc. (NASDAQ: MAR) is a global leading lodging company based in Bethesda, Maryland, USA, with more than 4,100 properties in 79 countries and territories. Marriott International reported revenues of nearly $14 billion in fiscal year 2014. The company operates and franchises hotels and licenses vacation ownership resorts under 19 brands. For more information or reservations, please visit our website at www.marriott.com, and for the latest company news, visit www.marriottnewscenter.com
Contact: Hannah Cadwallader
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