Marriott and Simon Expand Relationship With Plans to Open at Least Five Additional Hotels at Simon Shopping Centers

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USA, Bethesda, Maryland. May 28, 2018

Marriott International and Simon announced their plans to open at
least five new hotels at Simon shopping centers over the next several
years. From South Florida to New York's Long Island, Simon's premier
shopping, dining, entertainment and mixed-use destinations are
increasingly becoming ideal hotel destinations - offering consumers
amenities steps from their room and re powerful combination that
optimizes real estate values.

“With consumers increasingly gravitating toward walkable, mixed-use
communities, opening new hotels alongside Simon's thriving retail
destinations is an important part of Marriott International's growth
strategy in North America,” said Eric Jacobs Chief Development Officer,
Marriott International. “Simon's centers provide leisure and business
travelers alike access to shopping, restaurants, entertainment and an
array of unique experiences outside their door, providing the perfect
complement for our entire portfolio of brands.”

The AC Atlanta Buckhead at Phipps Plaza is one of several hotels that
Marriott International has opened at Simon shopping centers.

Simon began adding hospitality to elevate customer experience at its
centers and further enhance the value of its centers years ago. In all,
there are more than 15 Marriott-branded hotels located at Simon
properties including The Westin at The Domain in Austin, TX, which
opened in 2010 and the AC Hotel Atlanta Buckhead at Phipps Plaza, which
opened in Atlanta in 2016.  Just last year, Marriott TownePlace Suites®
debuted at Coconut Point in Estero, FL. Many more properties have been
developed in close proximity to Simon's properties.

The following five Marriott International brand hotels are expected to open at Simon centers over the next several years:

- AC Hotel by Marriott Fort Lauderdale Sawgrass Mills/Sunrise
- AC Hotel by Marriott Miami Dadeland
- Courtyard Marriott Wolfchase Galleria/Memphis
- Residence Inn Long Island Jericho
- Fairfield Inn & Suites Dallas Garland, Texas

“There is a great synergy when you combine Marriott's innovative hotels and Simon's exciting shopping, dining, entertainment and mixed-use properties,” said Patrick Peterman, Vice President of Development and Asset Intensification at Simon. “The uses are very complementary. We've recognized this for a long time.”

“In addition to business travelers who like being able to walk to restaurants, stores and entertainment, these hotels also appeal to locals, who may book a hotel for a special shopping trip - such as a wedding dress hunt,” said Jamie Krueger, Director of Sales and Marketing, AC Hotel Atlanta Buckhead at Phipps Plaza. “Our hotel leverages its prime location by creating fashion-infused experiences such as designer trunk shows and pop-up events with luxury car, watch makers and men's footwear brands in our AC Lounge.”