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Marriott Celebrates Opening of Two Resorts at Lake Tahoe

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Marriott Vacation Club International (MVCI), a division of Marriott International, Inc. (NYSE: MAR) celebrated today the grand opening of two resorts located in South Lake Tahoe, Calif. Marriott Grand Residence Club, Lake Tahoe, offering the benefits of second home ownership with the amenities of a fine resort, and Marriott’s Timber Lodge, featuring weekly intervals, were the centerpiece of a ceremony this morning as community leaders, partners and redevelopment officials were thanked for their support and commitment to excellence.

The two resorts anchor a new village offering shopping, dining, ice skating rink, movie theater, entertainment, as well as direct access to Heavenly Ski Resort via the gondola.

‘Our goal was to create two resorts that blended with the harmony of the surrounding environment while providing flexible, vacation and second home ownership options,’ said Stephen P. Weisz, president of Marriott Vacation Club International. “Lake Tahoe is a popular, multi-season destination with a variety of activities for travelers. And we are pleased to provide two superb resort choices.’

Community leaders were present for the grand opening representing years of hard work. They helped coordinate the decade long process which included the retirement of aging buildings and extensive environmental planning to minimize impact on the surrounding ecology.

‘With the addition of these resorts, South Lake Tahoe is realizing the dream of city planners. It creates a central village offering a fun and dynamic gathering place,” said Judy Brown, mayor of South Lake Tahoe. “Few resort communities can match the amenities, and we expect this project to have a long term impact on the growth of the local economy.’

Marriott Grand Residence Club represents Marriott’s newest development in second home ownership. It offers a unique quarter ownership option with spacious residences ranging in price from $ 125,000 to $ 650,000 for studio, one-, two-, and three-bedroom and penthouse floor plans. Marriott’s Timber Lodge is an upscale vacation ownership resort offering one-week intervals. Pricing for the 137 villas (265 at buildout) ranges from $ 11,500 to $ 42,900 per week for one-bedroom/one-bath and two-bedroom/two-bath floor plans.

Both properties are available for nightly rentals on a space available basis. The properties began welcoming owners and guests on November 1.

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