Ritz-Carlton Hotel Company and Fast Consortium to Develop New 250-room Ritz-Carlton, Melbourne

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. March 19, 2015

Chevy Chase, MD - March 19, 2015 - The Ritz-Carlton Hotel Company, L.L.C. and Fast Consortium (FEC), a leading Asian property developer, have signed an agreement for the development of The Ritz-Carlton, Melbourne located at 250 Spencer Street in the UNESCO city of literature.

The Ritz-Carlton, Melbourne will be the centrepiece of an urban mixed-use project in the central business district which will include residential apartments and retail shopping. With 250 rooms, the statuesque luxury hotel will be the highest in Australia, with floors located from level 64 to 77 of the building with dramatic views from all sides. The project will commence construction next year and is designed to include restaurants and a host of services and facilities for which The Ritz-Carlton is known.

Vibrant and multicultural, Melbourne brims with galleries, cafes, restaurants and a lifestyle that give Australia's second-largest city a distinctly European feel. There is an active music and arts scene and Melbourne is home to the Festival for International Arts, the International Comedy Festival, Fringe Festival, Food and Wine Festival and the Indigenous Arts Festival.

A unique feature of the city center is Melbourne's famed laneways - designed for horses and carts in the Victorian era - but since the 1990's they have undergone a renaissance. Today, they offera wide variety of pedestrian experiences ranging from urban art, fashion boutiques, hidden lounges, rooftop bars and live music.

Last year, FEC announced that it is developing a Ritz-Carlton at Elizabeth Quay in Perth, Australia. Today's announcement marks the second luxury hotel slated for The Ritz-Carlton in the country and demonstrates the company's commitment to providing exceptional hotel experiences in the major cosmopolitan cities of Australia.

"We are honored to partner once again with Fast Consortium on a second, spectacular project in Australia," said Herve Humler, president and chief operating officer of The Ritz-Carlton. "We look forward to welcoming Ritz-Carlton guests from around the world to a sensational high-rise hotel in Melbourne, a rich and intriguing city."

FEC Chairman, David Chiu commented, "We believe Australia has plenty of opportunities in the tourism industry. The country has many unique offerings which are driving the growth in tourist arrivals. We are delighted to bring this international luxury brand to Perth and now Melbourne."

About The Ritz-Carlton Hotel Company, LLC

The Ritz-Carlton Hotel Company, L.L.C., of Chevy Chase, Md., currently operates 88 hotels in the Americas, Europe, Asia, the Middle East, Africa, and the Caribbean. More than 30 hotel and residential projects are under development around the globe. For more information visit the company web site at www.ritzcarlton.com. The Ritz-Carlton Hotel Company, L.L.C. is a wholly-owned subsidiary of Marriott International, Inc. (NASDAQ:MAR).

About Far East Consortium

FEC is an international property development company with a strong Australian presence. Founded in 1960, FEC is one of Asia's largest property developers and is a public company listed on the Stock Exchange of Hong Kong. Since commencing operations in Australia in 1994, the group has contributed significantly to Melbourne's skyline through 12 landmark urban renewal redevelopments. FEC also owns Carepark Group, one of largest car park operators in Australia; and Dorsett Hospitality International Ltd, a hotel group listed on the Stock Exchange of Hong Kong with hotels in Mainland China, Hong Kong, Singapore, Malaysia, and the United Kingdom.