| |
| | Marriott - Investor Relations |
 | | Pursuant to the settlement, CBM I Holdings LLC and CBM II Holdings LLC, wholly owned subsidiaries of a joint venture between Marriott International, Rockledge Hotel Properties and Host Marriott, L.P., previously launched tender offers to acquire all outstanding units of limited partnership interest of Courtyard I and Courtyard II. |
 | | According to Gemisys Corporation, the claims administrator for the tender offers, approximately 938 Courtyard I units and 1,254 Courtyard II units were acquired pursuant to the tender offers, representing approximately 82% and 85% of the then outstanding Courtyard I units and Courtyard II units, respectively. |
 | | The units held by the holders of the 3 Courtyard II units that elected to opt out of the settlement were converted into the right to receive the appraised value of such units, calculated as set forth in the Purchase Offer and Consent Solicitation documents previously sent to unitholders. |
| www.shareholder.com /mar/ReleaseDetail.cfm?ReleaseID=38287 (432 words) |
|