The Ritz-Carlton Announces Paradise Valley Hotel

CHEVY CHASE, Md., Jan. 15, 2016 /PRNewswire/ -- The Ritz-Carlton Hotel Company, L.L.C. and Five Star Development Resort Communities, LLC have signed an agreement for the development of a new resort and residences in Paradise Valley near Scottsdale, Arizona. "Paradise Valley in Arizona will be a great new destination for our brand in the Americas," said Herve Humler, president and chief operating officer for The Ritz-Carlton. "We are pleased to be working with Five Star Development to create this unique desert resort for sophisticated travelers from around the world," he continued. The Ritz-Carlton, Paradise Valley will be the centerpiece of one of the largest new master-planned communities featuring both a resort hotel and residences in close to a decade.

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Rendering of The Ritz-Carlton, Paradise Valley

The affluent community know as Paradise Valley spreads from north of the Phoenix mountains to Cave Creek & Carefree and the McDowell Mountains to the east in greater metropolitan Phoenix, Arizona.  Spread out over twenty acres, The Ritz-Carlton, Paradise Valley resort will consist of 200 casita-style guest rooms and 20,000 square feet of function space to host luxury meetings for corporate and incentive clients or as the backdrop to stage weddings and local social functions.  The resort, with stunning views of iconic Camelback Mountain will also have a large destination spa with a health and wellness program featuring both an indoor and outdoor desert-inspired treatment menu. A citrus orchard and garden will grow seasonal produce harvested for the on-site restaurants.

The Ritz-Carlton Residences, Paradise Valley will be developed by Five Star Development Resort Communities in several phases adjacent to the hotel with residence owners having access to services from and privileges at the hotel including a dedicated concierge, priority access to hotel guest accommodations and amenities, in-residence dining and housekeeping. The multi-phased residential community will include 45 single-family homes and 94 villa residences.

Construction is expected to begin in July 2016 with the resort opening in late-2018.

For more information about upcoming openings for The Ritz-Carlton, please visit www.ritzcarlton.com or for worldwide reservations call 800-241-3333.

Note on forward-looking statements:
The Ritz-Carlton expectations for future hotel openings are "forward-looking statements" within the meaning of U.S. federal securities laws and are subject to numerous risks and uncertainties, including changes in market conditions, supply and demand changes for hotel rooms, the availability of capital to finance hotel growth, and other applicable "Risk Factors" that Marriott International discloses in its most recent quarterly report on Form 10-Q, any of which could delay or prevent hotel openings or otherwise cause growth to be different than we anticipate.  We make these forward-looking statements as of the date of this news release, and undertake no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.

About The Ritz-Carlton Hotel Company, LLC
The Ritz-Carlton Hotel Company, L.L.C., of Chevy Chase, Md., currently operates 91 hotels and resorts in the Americas, Europe, Asia, the Middle East, Africa, and the Caribbean. More than 40 hotel and residential projects are under development around the globe. For more information, or reservations, 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).

About Five Star Development Resort Communities, LLC
Founded in 1978 and headquartered in Scottsdale, Ariz., Five Star Development owns and develops projects in multiple real estate asset classes including hospitality, industrial, residential and retail in Arizona, California, Texas and New Mexico. For more information, visit www.fivestardevelopment.com

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SOURCE The Ritz-Carlton Hotel Company