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Article: Marriott International and Strategic Hotel Capital Reach Agreement to Settle Litigation.
- Article from:
- PR Newswire
- Article date:
- June 5, 2004
CopyrightCOPYRIGHT 2004 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Marriott International, Inc. and Strategic Hotel Capital, LLC today signed an agreement to resolve the litigation between the two parties. Implementation of the agreement is subject to the consent of certain third parties, which is expected to be received within 90 days. The resolution is not material to Marriott International.
(Photo: http://www.newscom.com/cgi-bin/prnh/20030605/MARRIOTTLOGO )
Marriott International manages seven of the properties in Strategic's 21-hotel portfolio under the Ritz-Carlton and Marriott brands.
Arne Sorenson, chief financial officer of Marriott International, Inc., said, "We are pleased to have resolved our ...