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Nick gets into the global hotel biz

Nickelodeon, Marriott Hotels and Miller Global Properties have teamed together to form the ultimate in family vacation accommodations. The first of 20 planned worldwide Nickelodeon Resorts by Marriott is expected to open in California's Liberty Station near San Diego in 2010, with the goal of having the remaining 19 completed or under construction by 2020. Marriott will manage all the properties, while Miller Global retains limited exclusive rights to develop and own the resorts in certain regions and is contributing to a seed fund that should total US$300 million in equity capital to get the venture off the ground.
June 1, 2007

Nickelodeon, Marriott Hotels and Miller Global Properties have teamed together to form the ultimate in family vacation accommodations. The first of 20 planned worldwide Nickelodeon Resorts by Marriott is expected to open in California’s Liberty Station near San Diego in 2010, with the goal of having the remaining 19 completed or under construction by 2020. Marriott will manage all the properties, while Miller Global retains limited exclusive rights to develop and own the resorts in certain regions and is contributing to a seed fund that should total US$300 million in equity capital to get the venture off the ground.

The resorts, which will start popping up from the Caribbean to the UK and Australia, are going to feature Nick-branded oversized rooms for multi-family-member occupancy and themed waterparks and restaurants. Kids will also get a chance to perform and get a good on-stage sliming at Studio Nick, a live entertainment venue planned for each hotel.

This is not Nick’s first foray into the hotel business. Holiday Inn opened Nickelodeon Suites in the spring of 2005. The kids entertainment giant says nothing will change with that arrangement for the time being, but the franchise agreement expires in March 2009.

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