Houston Airport Marriott
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Transcript of Houston Airport Marriott
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Houston Airport
MarriottJuly 2013
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Introduction to Host
S&P 500 and Fortune 500 company
Largest lodging REIT, $18 billion total market value
Portfolio of irreplaceable assets in premier markets:
Consolidated Portfolio + Joint Ventures: 145 hotels
4 hotels in Houston Houston Airport Marriott, JW Houston Galleria,
Houston Marriott Texas Medical Center and The St. Regis Houston
11 airport hotels
Hotels managed by best operators under strongestbrand names
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Host Credentials
Manage over $500 million annual capital investmentplan (over $3.1 billion since 2007)
Technical specialists in design, architecture,
engineering, procurement, project management,estimating and sustainability
Strategic relationships + scale ensure favorable pricing
and quality workmanship from vendors, suppliers,consultants and contractors
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Lobby / Great Room Elements
State-of-the-art, high-energy lobby to elevate thecustomer experience
3-meal-a-day dining / lobby bar concept
Expansive lobby seating area
New guest reception experience
Relocate and upgrade fitness facility
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Conceptual Lobby Layout
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BEFORE
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Conceptual Lobby Layout
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BAR
PANTRY
BUFFETBAR LOUNGE
RESTAURANT
DINING
SERV.
LOBBY LOUNGE
ADDITIONAL
SEATING
ADDITIONAL
SEATING REGISTRATION AFTER
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Reception Desk
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Lobby Lounge - Feature Wall
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Bar Concept
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Design Inspiration
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Restaurant Concept
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Feature Wall
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Public Area & Grand Stair Concept
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Tram Level Concept
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Existing Tram Level
Tram Level Design Concept
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Guestroom
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Before: Existing typical king guestroom
After: Typical king guestroom (Chicago Marriott OHare)
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Comparable Renovations
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Chicago Marriott OHareLobby / Great Room
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Recent Renovations
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Chicago Marriott Suites OHare
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Recent Renovations
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Washington Dulles
Airport MarriottGreat Room
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Business Terms
40-year lease
$40.5 million capital investment
$6.0 million within first year $34.5 million within 42 months
Rent = 10% of gross revenue
Minimum annual rent is $1,560,000
No additional hotels in the terminal complex within10 years from the effective date
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Community Impact
175-200 jobs created during renovation
Industry day MWBE construction goal (and ACDBE concession goal)
LEED concepts and comprehensive sustainability program
Recycling construction and packaging waste Installation of energy and water saving devices Use of recycled products
Donate beds, furniture and other materials to localcharities
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Renovation Plan
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Anticipated Construction Schedule
Building Exterior / Grounds 3Q 2014
Building Systems 3Q 2014
Rooms 4Q 2014
Lobby / Great Room 1Q 2015
Elevators and Escalators 1Q 2015
Ballrooms and Meeting Rooms 2Q 2016
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Questions?