Nick, Marriot Team for Branded Hotels

NEW YORK, May 31: Nickelodeon has teamed with Marriot
International and the real estate firm Miller Global Properties to launch 20
new branded resorts around the world, beginning in San Diego in 2010.

The Nickelodeon Resorts by Marriott line is expected to have
about 20 hotels under construction by 2020. Miller Global will have certain
exclusive rights to develop and own the resorts in specified geographic areas,
and plans to seed an investment fund that is expected to initially provide $300
million of dedicated development equity capital. All Nickelodeon Resorts by
Marriott properties will be managed by Marriott.

The first property is expected to be a 650-room resort at
Liberty Station in San Diego, which will incorporate a 100,000 square-foot
water park and activity deck complex featuring a variety of pools and
interactive attractions. Designed by Gensler, the resort is expected to break ground
in January 2008 and open in early 2010. Locations being considered for
development include family-oriented destinations in the U.S., Caribbean and
Mexican resort areas, the U.K. and other parts of Europe, as well as Asia,
Australia and the Middle East.

In addition to attractions like pools and water parks, the
resorts will feature live entertainment programs with costumed Nickelodeon
characters. There will also be Nick-themed retail items available that are
exclusive to the resort, as well as a “Nick Pix” photo studio and the Nick.com
Cyberzone, where kids can surf Nick.com and Nickjr.com content online, and view
resort-specific information. A game room will also be available.

For adults, meanwhile, there will be a full-service spa and
fitness center, quality dining and lounge options, private poolside cabanas and
an “adults only” lap pool. The hotels will also include meeting space and
business services. J.W. "Bill" Marriott, Jr., the chairman and CEO of
Marriott International, commented: “Besides being a great new family
destination, we believe that ‘Nickelodeon Resorts by Marriott will attract
younger adults, the young-at-heart, and meeting travelers, especially people
who travel on business with their families. As younger boomers and Gen X'ers
enter prime child-rearing years, their clear preference for seamlessly mixing
business with leisure and family fun will mesh perfectly with the Nickelodeon
Resorts by Marriott concept.”

Cyma Zarghami, the president of Nickelodeon and MTVN Kids
and Family Group, added: “This partnership with Marriott to bring the
Nickelodeon experience to families all over the world comes at the perfect
time, as the first generation of kids who grew up with our brand now have come
of age and are having families of their own. Marriott knows hotels and business
and leisure travelers, and no one knows kids and families like Nickelodeon. We
know this will be a great combination, and it signals the beginning of a new
era for the Nickelodeon brand.”