Milwaukee, Wis., May 5, 2005 -- Marcus Hotels & Resorts, a division of The Marcus Corporation (NYSE: MCS), today announced that its new hotel in Chicago will operate as the Four Points by Sheraton Chicago Downtown. The hotel, located just steps away from the “Magnificent Mile” at Ontario and Rush streets, is expected to open in June 2005. The hotel is owned and operated by Marcus Hotels & Resorts.
“We are pleased to partner with Four Points by Sheraton in establishing a major downtown presence for the brand in one of the nation’s leading business and leisure destinations. Chicago is a dynamic and growing market that was a top priority for Marcus Hotels & Resorts as we continue to expand our portfolio of distinctive properties,” said Bill Otto, president and chief operating officer of Marcus Hotels & Resorts.
The 226-room Four Points by Sheraton Chicago Downtown will feature attractive, well-appointed guestrooms, spacious, high-tech meeting rooms, an indoor swimming pool and fitness room.
“We want to create the feel of a neighborhood hotel that caters to leisure travelers, the small business meeting market and visiting guests of our neighbors in nearby condominiums and apartment residences. We believe there is a need in the market for a boutique-like hotel that offers the amenities that appeal to today’s travelers in a warm and friendly atmosphere,” said Otto.
Located at 630 N. Rush Street, the hotel’s in-room amenities include Four Points by Sheraton’s signature “Four Comfort” beds, refrigerators and microwaves, coffee makers, irons and ironing boards, hair dryers, Cable TV, Movies on Demand and Nintendo® Video Games. Additional guest rooms and suites will offer whirlpools, wet bars and balconies.
Guests can also enjoy a well-equipped fitness center, a sunroom-enclosed swimming pool with adjoining whirlpool and a landscaped outdoor patio. Additional services designed with guest convenience in mind, include complimentary high-speed Internet access, laundry/valet service, business center and complimentary USA Today newspapers.
Three food and beverage outlets will open within the hotel in fall 2005. The hotel will offer valet parking upon opening, with an on-site parking facility expected to open in late 2005.
In addition to its lodging division, The Marcus Corporation’s movie theatre division, Marcus Theatres®, owns or manages 503 screens at 45 locations in Wisconsin, Illinois, Minnesota and Ohio, and one family entertainment center in Wisconsin. For more information, visit the Marcus Hotels & Resorts Web site at www.marcushotels.com or The Marcus Corporation’s Web site at www.marcuscorp.com.
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 will 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 could cause results to differ materially from those expected, including, but not limited to, the following: (i) the availability, in terms of both quantity and audience appeal, of motion pictures for our theatre division; (ii) the effects of increasing depreciation expenses and preopening and start-up costs due to the capital intensive nature of our businesses; (iii) the effects of adverse economic conditions in our markets, particularly with respect to our hotels and resorts division; (iv) the effects of adverse weather conditions, particularly during the winter in the Midwest and in our other markets; (v) the effects on our occupancy and room rates from the relative industry supply of available rooms at comparable lodging facilities in our markets; (vi) the effects of competitive conditions in the markets served by us; (vii) our ability to identify properties to acquire, develop and/or manage and continuing availability of funds for such development; and (viii) the adverse impact on business and consumer spending on travel, leisure and entertainment resulting from terrorist attacks in the United States, the United States' responses thereto and subsequent hostilities. 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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