Transformation Underway at the Westin® Atlanta Perimeter North

  Transformation Underway at the Westin® Atlanta Perimeter North

  Multi-million dollar renovation includes all guestrooms and public spaces;
                 Will incorporate Westin signature amenities

Business Wire

MILWAUKEE -- October 21, 2013

Marcus® Hotels & Resorts, a division of The Marcus Corporation (NYSE: MCS),
today announced that its multi-million dollar renovation at the Westin®
Atlanta Perimeter North in Atlanta, Ga. is underway. The extensive project
includes renewed guestrooms and public spaces designed to rejuvenate and
inspire well-being – a theme across the full suite of Westin signature
amenities. The Westin Atlanta Perimeter North is managed by Marcus Hotels &
Resorts. The hotel is owned by Carey Watermark Investors, The Arden Group and
Marcus Hotels & Resorts.

Westin Perimeter North King Room (Photo: Business Wire)

Westin Perimeter North King Room (Photo: Business Wire)

The renovation will completely transform all 372 spacious guestrooms and
suites and the hotel’s public spaces, including its full-service restaurant,
lounge, meeting and banquet facilities. Upon completion in spring of 2014,
guests will be greeted by a contemporary new space, with streamlined décor and
organic colors and textures, along with thoughtfully-designed sitting and
meeting areas. An expansive lobby with a fusion of refreshing elements,
including the signature White Tea by Westin scent, relaxed lighting and new
acoustics, will provide guests with a sensory welcome. From within the hotel’s
centralized gathering space, tall windows will overlook the Concourse Center’s
private lake, adding to the Westin hotel’s energizing environment.

“We are very excited to begin this extensive transformation of the Westin
Atlanta Perimeter North. Enhancing the hotel’s existing strengths, this
metamorphosis will take advantage of our lakeside location in one of the metro
area’s most up-and-coming corporate districts. Improving our flexible meeting
space, renovating our guestrooms and public spaces and evolving our dining
experience will take this beautiful property to new heights,” said Martin van
der Laan, general manager of the Westin Atlanta Perimeter North. “We are proud
to partner with Starwood Hotels & Resorts in revitalizing this property and
continuing to offer Westin brand signature services and amenities to inspire
well-being.”

Van der Laan said half of the hotel’s guestrooms will have spectacular
lakeside views, offering a respite from the rigors of travel and providing a
peaceful retreat. Along with a fresh look, guestrooms and suites will continue
to offer the world-renowned Westin Heavenly® Bed – an oasis of lush sheets,
down pillows and patented pillow-top mattress, which cradle and contour the
body for a fully restorative sleep. Guests can also revive in the Heavenly®
Bath enhanced with Westin’s Heavenly® Shower, Heavenly® Robe and White Tea
Aloe bath amenities.

“The renovation will also include 20,000 square-feet of state-of-the-art
meeting and event space. The addition of two new boardrooms and a Westin
Executive Club Lounge will provide added benefits for busy travelers and
meeting planners. Our peaceful setting, walking trails, courtyard and
complimentary parking make the hotel the ideal setting for a meeting, wedding,
event or social gala,” added van der Laan.

As part of the revitalization, the hotel’s restaurant and lounge will be moved
to the first floor, and a lakeside patio area will be added. The new
restaurant and lounge will be unveiled in the upcoming months.

Visit the Westin Atlanta Perimeter North website to view before-and-after
images that illustrate the renovation in more detail:
http://www.westinatlantanorth.com/.

For the latest news and updates from Marcus Hotels & Resorts, please visit
http://media.marcushotels.com.

About the Westin Atlanta Perimeter North

Located just 15 miles from downtown Atlanta, the 372-room Westin Atlanta
Perimeter North is an oasis for the busy traveler. Located in the Concourse
Corporate Center, home to many Fortune 500 companies, the hotel is adjacent to
the Concourse Athletic Club, the fourth largest health facility in the nation.
The Westin Atlanta Perimeter North full-service hotel includes 20,000
square-feet of meeting space, banquet facilities, restaurant, lounge, fitness
center, gift shop, outdoor pool and 338 complimentary parking spaces. The
hotel is situated two miles from Perimeter Mall and is easily accessible by
MARTA, Atlanta’s rail transportation. The Westin Atlanta Perimeter North is
managed by Marcus Hotels & Resorts. The hotel is owned by Carey Watermark
Investors, The Arden Group and Marcus Hotels & Resorts. For more information
on the hotel, visit
http://www.starwoodhotels.com/westin/property/overview/index.html?propertyID=1022
and find the hotel on Facebook (http://www.facebook.com/westinatlnorth).

About Marcus Hotels & Resorts

Marcus Hotels & Resorts, a division of The Marcus Corporation (NYSE: MCS),
owns and/or manages 20 hotels, resorts and other properties in 11 states. A
force in the hospitality industry,Marcus Hotels & Resorts provides expertise
in management, development and historicrenovations. The company’s portfolio
includes a wide variety of properties including city-center meeting hotels,
upscale resorts and branded first-class hotels. For more information on the
latest news and updates, please visit: http://media.marcushotels.com and
follow the company on Facebook and Twitter (@MarcusHotels).

About The Marcus Corporation

Headquartered in Milwaukee, Wis., The Marcus Corporation is a leader in the
lodging and entertainment industries, with significant company-owned real
estate assets. In addition to its Marcus Hotels & Resorts division, the
company’s movie theatre division, Marcus Theatres®, is the fifth largest
theatre circuit in the United States and currently owns or operates 685
screens at 55 locations in Wisconsin, Illinois, Iowa, Minnesota, Nebraska,
North Dakota and Ohio. For more information, visit the company’s web site at
www.marcuscorp.com.

Carey Watermark Investors

Established in 2010 as a joint undertaking of W. P. Carey Inc. and Watermark
Capital Partners, Carey Watermark Investors Incorporated is a publicly
registered non-traded real estate investment trust (REIT) that invests
primarily in the lodging and lodging-related sectors.

www.careywatermark.com

The Arden Group

The Arden Group acquires, develops and manages full-service hotels and office
properties in major U.S. markets where demand is proven but assets remain
undervalued. Arden Group acquired its interest through Arden Real Estate
Partners I, LLC, a discretionary real estate fund launched in April 2012. This
is the Fund’s second hotel acquisition this year. Since its founding in 1989,
Arden Group has purchased or developed more than $1.5 billion of real estate.
Arden Group's property and asset management division has managed more than $5
billion of assets. www.ardengroup.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 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 may cause results to differ materially from those expected, including,
but not limited to, the following: (1) the availability, in terms of both
quantity and audience appeal, of motion pictures for our theatre division, as
well as other industry dynamics such as the maintenance of a suitable window
between the date such motion pictures are released in theatres and the date
they are released to other distribution channels; (2) the effects of
increasing depreciation expenses, reduced operating profits during major
property renovations, and preopening and start-up costs due to the capital
intensive nature of our businesses; (3) the effects of adverse economic
conditions in our markets, particularly with respect to our hotels and resorts
division; (4) the effects of adverse weather conditions, particularly during
the winter in the Midwest and in our other markets; (5) the effects on our
occupancy and room rates of the relative industry supply of available rooms at
comparable lodging facilities in our markets; (6) the effects of competitive
conditions in our markets; (7) our ability to identify properties to acquire,
develop and/or manage and the continuing availability of funds for such
development; and (8) the adverse impact on business and consumer spending on
travel, leisure and entertainment resulting from terrorist attacks in the
United States or incidents such as the tragedy in a movie theatre in Colorado.
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.

Photos/Multimedia Gallery Available:
http://www.businesswire.com/multimedia/home/20131021006148/en/

Multimedia
Available:http://www.businesswire.com/cgi-bin/mmg.cgi?eid=50733042&lang=en

Contact:

Vollrath Associates PR
Jessica Vollrath, (414) 221-0218
jvollrath@vollrathpr.com