Sonnenblick Goldman Arranges Sale of Aruba Marriott
NEW YORK, NY, November 16, 2006. Sonnenblick Goldman, serving as the exclusive advisor to Plant Hotel N.V., has arranged the sale of the ownership entity holding the leasehold interest in the 413-room Aruba Marriott Resort & Stellaris Casino for $237 million to the Caribbean Real Estate Opportunity Fund. NIBC Bank NV (of the Netherlands) acted as financial advisor to the majority shareholder of Plant Hotel NV. Marriott will continue to manage the resort for the new owners under a long-term management agreement.
The resort features the largest guestrooms on the island including 20 suites - all with direct ocean views. The AAA Four Star Aruba Marriott is one of Aruba's premier destination resorts and includes a 17,000-square-foot casino and 11,000 square feet of well-appointed meeting and banquet space. The property features an ideal Palm Beach location, Caribbean-style accommodations, an extensive array of food and beverage outlets and a wide variety of resort activities and amenities.
"Aruba is an ideal market for investment given its unique attributes which include great airlift, ideal weather, a stable political climate and labor pool, high barriers to entry and strong asset performance," commented Mark J. Gordon, managing director and principal of Sonnenblick Goldman and head of the firm's International Lodging & Leisure Group. "Furthermore, the long term management contract with Marriott will ensure the resort's successful performance. These factors, in addition to a favorable interest from the lenders to finance the acquisition resulted in strong interest from the international investment community."
Aruba, a bustling resort destination known for its pristine white sand beaches, championship golf courses and pleasant tropical climate, is home to approximately 100,000 residents. With tourism as its key industry, the island of Aruba hosted 732,400 visitors in 2005 alone. According to Travel + Leisure Magazine, Aruba is the sixth most popular island resort location in the world.
Mark Owens, a vice president at Sonnenblick Goldman added, "Aruba's market dynamics combined with the contemplated renovation strategy the buyer intends to pursue will make the Aruba Marriott one of the Caribbean's leading vacation destinations.
Marriott International, Inc. (NASDAQ: MAR) is a global leading lodging company based in Bethesda,Maryland, USA, with more than 4,200 properties in 80 countries and territories. Marriott International reported revenues of nearly $14 billion in fiscal year 2014. The company operates and franchises hotels and licenses vacation ownership resorts under 19 brands, including: The Ritz-Carlton®, BVlgari®, EDITION®, JW Marriott®, Autograph Collection® Hotels, Renaissance® Hotels, Marriott Hotels®, Delta Hotels and Resorts®, Marriott Executive Apartments®, Marriott Vacation Club®, Gaylord Hotels®, AC Hotels by Marriott®, Courtyard®, Residence Inn®, SpringHill Suites®, Fairfield Inn & Suites®, TownePlace Suites®, Protea Hotels® and MoxyHotels®. Marriott has been consistently recognized as a top employer and for its superior business ethics. The company also manages the award-winning guest loyalty program, Marriott Rewards® and The Ritz-Carlton Rewards® program, which together surpass 50 million members. For more information or reservations, please visit our website at 
