ORLANDO, FL— HOTEL BUSINESS® has learned Marriott Grand Residence Club, the newest fractional ownership brand of Marriott International, has added a second property to its developing portfolio in London’s Mayfair district. MGRC has assumed management of the existing 47 Park Street Hotel and will rename it Marriott Grand Residence Club, Mayfair-London, offering 49 units for fractional property ownership. “Marriott Grand Residence Club, Mayfair-London continues a long-standing tradition of excellence at 47 Park Street,” said Marc Topiol, regional vp/resort development-MGRC. “After a careful search, we chose a location which will no doubt prove to be a desirable second home alternative for London’s most discerning travelers.” Targeted to open for initial owner occupancy spring 2003, nightly accommodations will remain available for rent even after the property is sold-out, as owners exercise their various usage options. Upon completion of a refurbishment later this year, the property will have 33 one-bedroom and 16 two-bedroom residences ranging in size from 710 to 1,108 square feet. Ownership prices range from $122,200 to $291,500 per 28-day fractional interest, based on residence type and season.—Stefani C. O’Connor
