Marcus® Hotels & Resorts Re-Affiliates The Cornhusker Hotel with Marriott International
Property to undergo extensive multi-million dollar renovations in 2013
MILWAUKEE--(BUSINESS WIRE)-- Marcus® Hotels & Resorts, a division of The Marcus Corporation (NYS: MCS) today announced The Cornhusker Hotel in Lincoln, Neb. has been re-affiliated with Marriott International, Inc. (NYS: MAR) under its signature Marriott Hotels & Resorts brand and renamed The Cornhusker, A Marriott Hotel. The hotel's Marriott sign was unveiled at a lighting ceremony yesterday. Marcus Hotels & Resorts assumed management of the property September 6 and is planning a multi-million dollar renovation of the hotel beginning in 2013.
The Cornhusker, A Marriott Hotel (Photo: Business Wire)
"We are proud to partner with Marriott International, the global hospitality leader, on this exciting project in downtown Lincoln," said Gregory S. Marcus, president and chief executive officer of The Marcus Corporation. "Guests will appreciate the extensive renovations the hotel will undergo and will also benefit from the high-quality amenities Marriott International provides, including a global reservation system and a tremendous loyalty program serving over 36 million members. Together, our goal is to reposition this landmark property as the social spot of the city."
"We are delighted to have The Cornhusker back in the Marriott family, representing our Marriott Hotels & Resorts brand," said Todd Walther, regional vice president of franchise operations, Marriott International. "With the extensive renovations that are planned, we are looking forward to reintroducing this prestigious hotel to our loyal Marriott guests and other discerning travelers visiting Lincoln."
The extensive property renovations will include all 297 guest rooms and suites, 45,600 square feet of meeting space, the hotel lobby, restaurant and bars. "Under the Marriott flag, the second floor lounge will be converted to a Marriott great room designed for the next generation of travelers who blend work and play. The Marriott great room lobby creates a seamless experience merging modern, stylish design and comfort, with greater access to food and beverage, and technology. The lively atmosphere transforms throughout the day, giving guests options to work individually or in groups, socialize, or connect with their social networks while watching the great room scene unfold. The great room at The Cornhusker features a media center, quiet work stations and complimentary Wi-Fi," said Charles Harper, general manager.
Harper said Marcus Hotels & Resorts plans to add a Cornhusker Café on the ground floor, modeled after its very successful Café at The Pfister at the company's flagship property, The Pfister Hotel in Milwaukee, Wis. "The Cornhusker Café will offer a barista counter featuring Starbucks brewed coffee, in-house gourmet pastries and desserts and other popular breakfast and lunch items for the on-the-go traveler. For those looking to stay a bit longer for a meeting over coffee, power breakfast or business luncheon, the café will have a full dining area offering a complete breakfast and lunch menu featuring heart-healthy options, homemade soups and seasonal salads," added Harper.
As previously announced, the company also plans to introduce its successful restaurant and bar concept, Miller Time Pub & Grill, in The Cornhusker. The Miller Time Pub & Grill, developed in association with MillerCoors, will serve as a lively neighborhood gathering place offering specialty crafted burgers and beers, in addition to other quality beer-inspired menu options.
The multi-million dollar renovation project will also dramatically enhance the look of the attached convention center building. Renovations will include new carpeting, wall coverings and other updated design elements such as elegant chandeliers in the 10,545-square foot Grand Ballroom, making it an ideal place for weddings, galas and business and social events. "The design transformations and the latest technology upgrades will make this a state-of-the-art convention center that accommodates the needs of today's meeting planners and business travelers," added Marcus. "We also plan to utilize the large four-story atrium which connects the hotel to the seven-story office building for local events and exhibits, including featuring the work of talented local artists."
In addition, the company plans to re-vamp the hotel gift shop to offer new merchandise tailored to the local market and completely remodel the 10th floor concierge lounge to provide the environment and amenities expected by the highest level Marriott Platinum rewards guest.
Renovation of the meeting spaces is scheduled to be completed by summer 2013, and the guestrooms and restaurant concepts are expected to be completed by October 2013.
Marcus Hotels & Resorts and its affiliate, MCS Capital, acquired The Cornhusker hotel in September as part of a joint venture with a fund affiliate of LEM Capital of Philadelphia. Marcus Hotels & Resorts is the majority owner.
The Cornhusker, A Marriott Hotel is located at 333 South 13th Street in Lincoln, Neb. For more information or to reserve accommodations, please call 1-800-228-9290 or visit http://www.marriott.com/hotels/travel/lnkfs-the-cornhusker-a-marriott-hotel.
For additional Cornhusker photos and more information on the latest news and updates, please visithttp://media.marcushotels.com.
About Marcus Hotels & Resorts
Marcus Hotels & Resorts, a division of The Marcus Corporation (NYS: MCS) , owns and/or manages 20 hotels, resorts and other properties in 11 states. A force in the hospitality industry, Marcus Hotels & Resorts provides expertise in management, development and historic renovations. The company's portfolio includes a wide variety of properties including city-center meeting hotels, upscale resorts and branded first-class hotels. For more information on the latest news and updates, please visit: http://media.marcushotels.com and follow the company on Facebook and Twitter (@MarcusHotels).
About The Marcus Corporation
Headquartered in Milwaukee, Wis., The Marcus Corporation is a leader in the lodging and entertainment industries, with significant company-owned real estate assets. In addition to its Marcus Hotels & Resorts division, the company's movie theatre division, Marcus Theatres®, is the sixth largest theatre circuit in the United States and currently owns or operates 687 screens at 55 locations in Wisconsin, Illinois, Iowa, Minnesota, Nebraska, North Dakota and Ohio. For more information, visit the company's web site at www.marcuscorp.com.
About Marriott International, Inc.
Marriott International, Inc. (NYS: MAR) is a leading lodging company based in Bethesda, Maryland, USA with more than 3,700 properties in 73 countries and territories and reported revenues of over $12 billion in fiscal year 2011. The company operates and franchises hotels and licenses vacation ownership resorts under the following brands: Marriott Hotels & Resorts,The Ritz-Carlton, JW Marriott, Bulgari, EDITION, Renaissance, Gaylord Hotels, Autograph Collection, AC Hotels by Marriott, Courtyard, Fairfield Inn & Suites, SpringHill Suites, Residence Inn, TownePlace Suites, Marriott Executive Apartments,Marriott Vacation Club, Grand Residences by Marriott, and The Ritz-Carlton Destination Club. There are approximately 300,000 employees at headquarters, managed and franchised properties. Marriott is consistently recognized as a top employer and for its superior business operations, which it conducts based on five core values: put people first, pursue excellence, embrace change, act with integrity, and serve our world. For more information or reservations, please visit our website at www.marriott.com, and for the latest company news, visit www.marriottnewscenter.com.
About LEM Capital
LEM Capital manages a series of private equity funds with over $500 million of capital commitments under management. Since 2002, LEM Capital has provided structured debt and equity solutions for real estate owners, including joint venture equity, senior equity, preferred equity, mezzanine loans and subordinate financing.
Certain matters discussed in this press release are "forward-looking statements" intended to qualify for the safe harbors from liability established by the Private Securities Litigation Reform Act of 1995. These forward-looking statements may generally be identified as such because the context of such statements include words such as we "believe," "anticipate," "expect" or words of similar import. Similarly, statements that describe our future plans, objectives or goals are also forward-looking statements. Such forward-looking statements are subject to certain risks and uncertainties which may cause results to differ materially from those expected, including, but not limited to, the following: (1) the availability, in terms of both quantity and audience appeal, of motion pictures for our theatre division, as well as other industry dynamics such as the maintenance of a suitable window between the date such motion pictures are released in theatres and the date they are released to other distribution channels; (2) the effects of increasing depreciation expenses, reduced operating profits during major property renovations, and preopening and start-up costs due to the capital intensive nature of our businesses; (3) the effects of adverse economic conditions in our markets, particularly with respect to our hotels and resorts division; (4) the effects of adverse weather conditions, particularly during the winter in the Midwest and in our other markets; (5) the effects on our occupancy and room rates of the relative industry supply of available rooms at comparable lodging facilities in our markets; (6) the effects of competitive conditions in our markets; (7) our ability to identify properties to acquire, develop and/or manage and the continuing availability of funds for such development; and (8) the adverse impact on business and consumer spending on travel, leisure and entertainment resulting from terrorist attacks in the United States or incidents such as the recent tragedy in a movie theatre in Colorado. Shareholders, potential investors and other readers are urged to consider these factors carefully in evaluating the forward-looking statements and are cautioned not to place undue reliance on such forward-looking statements. The forward-looking statements made herein are made only as of the date of this press release and we undertake no obligation to publicly update such forward-looking statements to reflect subsequent events or circumstances.
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Chris Anderson, (414) 905-1516
KEYWORDS: United States North America Nebraska Wisconsin
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