MILWAUKEE – Nov. 27, 2004 – Marcus Hotels and Resorts, a division of The Marcus Corporation (NYSE:MCS), has announced that it has signed a definitive agreement to sell its Miramonte Resort in Indian Wells, Calif., to Destination Hotels & Resorts, an independent hotel management company based in Englewood, Colo. Terms of the cash transaction, which is expected to close by the end of the year, were not disclosed.

The Miramonte Resort is a boutique luxury resort located on 11 acres in the Palm Springs area. The Tuscan-themed resort includes 216 guest rooms, a restaurant, lounge, meeting space, fitness center, swimming pools, outdoor meeting facilities and a golf concierge. In May 2004, Marcus Hotels and Resorts further enhanced the property with the opening of The Well, a luxury resort spa.

"The decision to sell the Miramonte is consistent with our overall corporate strategy of constantly evaluating all of our operating businesses to ensure that we are maximizing shareholder value," said Stephen H. Marcus, chairman and chief executive officer of The Marcus Corporation.

"Our strategy to grow Marcus Hotels and Resorts continues to emphasize equity investments and management contracts that enable us to diversify our capital over a broader base. The sale of the Miramonte is consistent with this strategy. With numerous development opportunities in the pipeline, we are focused on rapidly increasing the total number of rooms we have under management. We expect the growth pace to accelerate as we continue to build our development team and as more transactions and deal flow occur in the marketplace," said Bill Otto, president and chief operating officer of Marcus Hotels and Resorts.

Marcus Hotels and Resorts owns or manages a distinctive portfolio of 11 hotels and resorts that are leaders in their markets. Six properties are company-owned and operated: the Grand Geneva Resort & Spa, Lake Geneva, Wis.; Hilton Madison at Monona Terrace, Madison, Wis.; Hilton Milwaukee City Center, Milwaukee, Wis..; Hotel Phillips, Kansas City, Mo.; Miramonte Resort, Indian Wells, Calif.; and the Pfister Hotel, Milwaukee, Wis. Managed properties are Beverly Garland's Holiday Inn, North Hollywood, Calif.; Crowne Plaza-Northstar, Minneapolis, Minn.; Hilton Garden Inn-Northwest, Houston, Tex.; Hotel Mead, Wisconsin Rapids, Wis.; and Timber Ridge Lodge and Water Park, Lake Geneva, Wis. The company also owns and operates the Marcus Vacation Club at Grand Geneva, Lake Geneva, Wis.

Headquartered in Milwaukee, Wis., The Marcus Corporation is a leader in the lodging and entertainment industries. The company's lodging division, Marcus Hotels and Resorts, owns or manages 11 hotels and resorts in Wisconsin, California, Minnesota, Missouri and Texas, and one vacation club in Wisconsin. The Marcus Corporation's movie theatre division, Marcus Theatres, owns or manages 485 screens at 44 locations in Wisconsin, Illinois, Minnesota and Ohio, and one family entertainment center in Wisconsin. For more information, visit the company's Web site at www.marcuscorp.com.

Destination Hotels & Resorts (DH&R) is a privately held lodging management company. With 29 independent, luxury and upscale hotels, resorts and golf clubs, DH&R is the fourth largest independent hospitality management company in the country. The company's portfolio includes more than 7,500 guest rooms, 17 golf courses and eight full-service spas. DH&R is a wholly- owned subsidiary of Los Angeles-based Lowe Enterprises, Inc., a leading national real estate investment, development and management firm.

Contacts:
The Marcus Corporation
Douglas A. Neis, 414-905-1100