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47 Park Street Scoops Readers' Choice Award At Fractional Life Summit
May 6, 2009
LONDON - May 6, 2009 - 47 Park Street -- Grand Residences by Marriott was voted by Fractionallife.com (http://www.fractionallife.com) readers as the best all-round fractional offering in the marketplace today.
The award was announced at the recent Fractional Life Summit for those in the fractional ownership business. Christian Jensen Broby, chief customer officer and vice president for Marriott's business planning in the Middle East and Europe, participated in a panel with other fractional luminaries to advise those with strategic business dilemmas.
The Fractional Life awards are the first and only of their kind, offering a seal of approval for those considering a fractional ownership purchase and acknowledging the global nature of the industry. There are now 90 properties providing deeded, fractional real estate across Europe, 14 percent of which are located in the U.K. This concentration in the U.K., is the third highest after Portugal (20 percent) and France (18 percent).
Since fractional ownership emerged in Europe, where they were located in key holiday destinations, the market has grown considerably. Globally, the industry took in £1.6 billion worth of sales last year alone. Only 18 percent of European properties are in urban destinations like 47 Park Street, though this number is set to grow as many companies identify the advantages of city locations.
47 Park Street Project Director, Jennifer Massey, who accepted the award on behalf of 47 Park Street, commented, "47 Park Street was voted by the readers of Fractionallife.com, so the award is a fully independent endorsement. Thank you to those who view the 47 Park Street lifestyle as the ideal way to own a home in Mayfair. We are delighted to receive this accolade."
Piers Brown, founder of http://www.fractionallife.com, added, "The criteria for this award is straightforward – that it is the best all-round fractional offering in terms of location, service, building standards, and benefits to Members. The appeal of fractional ownership to the consumer is growing, and it is increasingly clear fractional is the financially savvy way to achieve a desired lifestyle but without an excessive outlay."
ABOUT 47 PARK STREET
47 Park Street – Grand Residences by Marriott is located in the heart of London's prestigious Mayfair district. Introduced in April 2003, 47 Park Street is London's first urban fractional membership, luxury real estate offering. Designed for those who travel frequently to the same destination, the residence offers companies and business travelers significant financial advantage over luxury hotel suite accommodations, as well as providing an alternative to second home ownership, coupled with extensive Member benefits to some of London's most prestigious clubs and venues. 47 Park Street offers memberships for 21-day fractional interests and a variety of flexible usage options.
47 Park Street comprises 49 spacious one- and two-bedroom residences ranging from 549 to 1023 square feet. The Edwardian-style townhouse was refurbished in Neo-classical and Regency design, with each residence having a fully-equipped kitchen and separate living / dining room with full entertainment system. Wi-Fi accessibility is available in all residences including the members' lounge. Fractional memberships of a one- or two-bedroom residence range from £111,000 to £260,000 for 21 nights per year until 2050.
Issy Lowndes / Kitty Jones
+44 (0) 20 7631 1000
Grand Residences by Marriott
NOTE TO EDITORS
MARRIOTT INTERNATIONAL, Inc. (NYSE:MAR) is a leading lodging company with more than 3,200 lodging properties in 66 countries and territories. Marriott International operates and franchises hotels under the Marriott, JW Marriott, The Ritz-Carlton, Renaissance, Residence Inn, Courtyard, TownePlace Suites, Fairfield Inn, SpringHill Suites and Bulgari brand names; develops and operates vacation ownership resorts under the Marriott Vacation Club, The Ritz-Carlton Destination Club and Grand Residences by Marriott brands; operates Marriott Executive Apartments; provides furnished corporate housing through its Marriott ExecuStay division; and operates conference centers. The company is headquartered in Bethesda, Maryland, USA, and had approximately 146,000 employees at 2008 year-end. It is recognized by BusinessWeek as one of the 100 best global brands, by FORTUNE® as one of the best companies to work for, and by the U.S. Environmental Protection Agency (EPA) as Partner of the Year since 2004. In fiscal year 2008, Marriott International reported sales from continuing operations of nearly $13 billion. For more information or reservations, please visit our web site at www.marriott.com.