Marriott International Signs Agreement with IOI Properties Group to Add Palm Garden Hotel to Tribute Portfolio in Malaysia

PUTRAJAYA,Malaysia,May 20,2021 --Marriott International announced it has signed an agreement with IOI Properties Group,Malaysia's leading integrated lifestyle real-estate group,to add the Palm Garden Hotel to the company's Tribute Portfolio. Tribute Portfolio is Marriott International's growing global family of characterful,independent hotels drawn together by their passion for captivating design and their drive to create vibrant social scenes for guests and locals alike. Under the agreement,the current 151-room Palm Garden Hotel is expected to rebrand to become part of Marriott International's Tribute Portfolio following a strategic conversion.

Marriott International Signs Agreement with IOI Properties Group to Bring A Tribute Portfolio Hotel to Malaysia Front row (seated,from left to right): Rajeev Menon (President,Asia Pacific - Excluding Greater China,Marriott International),Lee Yeow Seng (Executive Vice Chairman,IOI Properties Group Berhad).

"We are excited to build on our relationship with IOI Properties Group and further expand our portfolio in Malaysia," said Paul Foskey,Chief Development Officer,Asia Pacific,Marriott International.

IOIPG Executive Vice Chairman Lee Yeow Seng said the hospitality and leisure segment of the Group leverages on its stable of world-class brand hotels in providing excellent customer experience,augmented by distinctive IOIPG-brand offerings that always prioritize the needs of its customers. "This is in line with our business strategy of delivering excellence,creating value for stakeholders,and developing sustainable communities. Marriott International has a reputation for excellent service and quality. Their commitment to diversity and inclusion creates opportunities for local communities to thrive,fostering a positive sense of wellbeing in the society,which also reflects the corporate culture of IOI Properties Group," he said after the signing ceremony between IOIPG and Marriott International.

"We are constantly finding alternatives to increase revenue and consolidating our hotel operations is an effective way. This will lead to better cost optimization and improved operational efficiency,resulting in value creation for stakeholders and sustained profits for shareholders. It will unlock the potential value of our property and hotel assets. The strong brand positioning and presence of Marriott International,together with its values of pursuing excellence and embracing change will take the hospitality segment of IOIPG to the next level,as the hospitality and leisure industry in Malaysia recovers post COVID-19."

Located in the 788-acre IOI Resort City and on the edge of the Palm Garden Golf Club,the hotel anticipates undergoing a renovation and begin operating as the Palm Garden Hotel,Putrajaya,a Tribute Portfolio Hotel,under the Marriott Bonvoy portfolio later this year. Surrounded by verdant and scenic greenery,the hotel will feature a signature Thai restaurant,an alfresco bar,two large swimming pools,and a recreation center with obstacle courses and various teambuilding facilities. The hotel will also provide 11 multifunctional event spaces including a ballroom with over 6,000 square feet.

"We are thrilled to sign the agreement with IOI Properties Group to introduce the Tribute Portfolio brand to the administrative city of Putrajaya," said Rivero Delgado,Area Vice President - Singapore,Maldives,Marriott International. "This signing marks our commitment to expand our diverse Marriott Bonvoy portfolio across Malaysia where we currently offer a breadth of brands providing guests endless experiences."

Marriott International currently operates 32 properties across 17 brands inMalaysia. With this signing,Marriott International expects to manage six hotels for IOI Properties Group – three operating hotels in Malaysia (Le Méridien Putrajaya,Putrajaya Marriott Hotel,Four Points by Sheraton Puchong) and two new hotels (Sheraton Grand Xiamen and Moxy Putrajaya) in the pipeline. The Palm Garden Hotel,a Tribute Portfolio Hotel,is expected to be the sixth.

For more information,please visit https://www.ioiproperties.com.my/ioi-resort-city-putrajaya/palm-garden-hotel

Marriott International,Inc.(NASDAQ: MAR) is based in Bethesda,Maryland,USA,and encompasses a portfolio of more than 7,500 properties under 30 leading brands spanning 132 countries and territories. Marriott operates and franchises hotels and licenses vacation ownership resorts all around the world. The company offers Marriott Bonvoy™,its highly-awarded travel program. For more information,please visit our website atwww.marriott.com,and for the latest company news,visitwww.marriottnewscenter.com. In addition,connect with us onFacebookand @MarriottIntl onTwitterandInstagram.

About Tribute Portfolio

Tribute Portfolio is a growing global family of characterful,independent hotels drawn together by their passion for captivating design and their drive to create vibrant social scenes for guests and locals alike. Withmore than40 hotelsopen around the world,Tribute Portfolio has struck a chord with those who seek out independent experiences and crave a connection with the community when traveling. From boutique resorts like Inn at Rancho Santa Fe in California and urban hotels such as The Vagabond Club in Singapore;to hotels in indie-spirited locales like Noelle in Nashville and TheSlaakin Rotterdam,each Tribute Portfolio hotel celebrates its individuality,offeringtravelersa fresh,oftencolorful,perspective. Stay with character and stay connectedonInstagram,TwitterandFacebook.Tribute Portfoliois proud to participate in Marriott Bonvoy,the global travel program from Marriott International. The program offers members an extraordinary portfolio of global brands,exclusive experiences onMarriott Bonvoy Momentsand unparalleled benefits including free nights and Elite status recognition. Toenrollfor free or for more information about the program,visitMarriottBonvoy.marriott.com.

About IOI Properties Group

Spanning more than three decades in the property development industry,IOI Properties Group Berhad ("IOIPG") is one of the leading public-listed property developers in Malaysia. Over the years,it has successfully developed sustainable townships and commercial enclaves in sought-after regions of Klang Valley such as IOI Resort City,Bandar Puteri Puchong,16 Sierra,Warisan Puteri Sepang and Bandar Puteri Bangi; and has established a strong presence in Penang (northern region) as well as Johor in the southern region of Malaysia. In the international scene,IOI Properties has achieved notable success in Singapore and the People's Republic of China. Apart from being an award-winning top property developer,IOIPG is also known for being one of the few integrated property developers that builds and manages its investment properties such as hotels,golf courses,shopping malls and office buildings.

The Group has a total development landbank of approximately 10,000 acres. Under its investment property portfolio,it manages a total of 5.84 million sq. ft. of lettable area,comprising retail,purpose- built office and others. These properties are mostly located in high-growth areas,which are well-connected,accessible and are centred within high population concentration. The Group owns five hotels with 4- to 5-star rating offering a total of more than 1,800 keys namely Putrajaya Marriott Hotel,Palm Garden Hotel,Four Points by Sheraton Puchong,Le Meridien Putrajaya and JW Marriott Hotel Singapore South Beach. The Group's golf courses include Palm Garden Golf Club in IOI Resort City and IOI Palm Villa Golf and Country Resort in Johor. Corporate website: www.ioiproperties.com.my