MARRIOTT INTERNATIONAL, INC.

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Marriott International Signs Agreement to Debut W Costa Navarino; Set to welcome guests this summer, W Costa Navarino will bring detail-driven design and inspiring energy to the new Navarino Waterfront

01/14/2022 | 07:39am EDT

Marriott International, Inc. today announced it has signed an agreement with TEMES S.A., a leading developer and operator in high end tourism and real estate, to debut the W Hotels Worldwide brand in Greece with the opening of W Costa Navarino. Expected to open in summer 2022, W Costa Navarino is anticipated to mark the latest addition to the ever-expanding W Escapes portfolio in Europe following locations in Spain, Switzerland and Portugal.

The new W Escape will be located in Navarino Waterfront, the newest integrated resort of Costa Navarino - the prime sustainable destination in the Mediterranean. The 13-hectare beachfront destination is located in Messinia, southwest Peloponnese. Designed by renowned Greek architects, Tombazis and Associates Architects, W Costa Navarino is inspired by the region's traditional residential areas and set to use local, natural materials such as stone, wood and reed. The distinctive interiors will be led by London-based MKV Design. The Escape is expected to feature 246 stylish rooms, suites, and villas, many with private pools staged in the Bay of Navarino with stunning Ionian Sea views.

''We are thrilled to build on our fantastic relationship with TEMES S.A. to open W Costa Navarino, strengthening Marriott International's presence in this Mediterranean paradise,' said Candice D'Cruz, Vice President - Luxury Brands, Europe, Middle East & Africa, Marriott International. 'Joining our portfolio of coveted W Escapes around the world, W Costa Navarino will add a distinct take on modern luxury to Navarino Waterfront. We look forward to welcoming free-spirited travelers to this new luxury playground.'

W Costa Navarino is set to offer five dining venues including a destination beach club overlooking a long sandy shore, designed by Athens-based K-Studio. The 'Culinary Square' is the hotel's playful take on a deli food market with individual outlets creating a socially driven destination for all day dining. Other planned amenities include a sunset bar and the signature W Living Room. Guests will also be able to enjoy experiences and dining at neighbouring venues in Costa Navarino including the new Navarino Agora, an open marketplace with retail, street food, open-air cinema and exciting programming throughout the day and night.

'W Costa Navarino will generate a unique energy encouraging free expression and connection between a diverse mix of people, whilst respecting and honoring authentic experiences and cultures. In this important chapter for the growth of the destination, we believe W Costa Navarino will significantly contribute to our vision in further establishing Messinia as a top international destination to visit and to live,' said Achilles V. Constantakopoulos, Chairman TEMES S.A.

Tennis courts and a water sports hub are part of the vision for guests to enjoy at W Costa Navarino, along with access to the destination's four signature golf courses and an array of outdoor programming including biking, hiking, rock-climbing and sailing.

There are currently two Marriott International properties in Costa Navarino- The Westin Resort Costa Navarino, offering travellers and families countless well-being activities and The Romanos, a Luxury Collection Resort, offering exquisite architecture, butler service and epicurean experiences. For more information, please visit whotels.com/escapes.

Media Contacts

Georgie Noble

Consumer PR Director, EMEA

Marriott International

Georgie.Noble@Marriott.com

Marina Papatsoni

Director General - Business Development and Corporate Affairs

TEMES S.A.

mpapatsoni@temes.gr

+30 2110160013

Valia Vanezi

Communications Director

TEMES S.A.

vvanezi@temes.gr

+30 2110160152

(C) 2022 Electronic News Publishing, source ENP Newswire

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Financials (USD)
Sales 2022 19 487 M - -
Net income 2022 1 929 M - -
Net Debt 2022 7 937 M - -
P/E ratio 2022 28,9x
Yield 2022 0,50%
Capitalization 55 696 M 55 696 M -
EV / Sales 2022 3,27x
EV / Sales 2023 2,91x
Nbr of Employees 120 000
Free-Float 81,4%
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Stephanie C. Linnartz President
Kathleen Kelly Oberg Chief Financial Officer & Executive Vice President
David Sheets Marriott Chairman
James H. Scholefield Chief Information & Digital Officer
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