Residence Inn by Marriott in Sarajevo

Sarajevo, 7 November 2013 – The agreement for the construction of the Residence Inn by Marriott in Sarajevo was signed today by Carlton C. Ervin, Chief Development Officer, Europe for Marriott International, Inc. (NASDAQ: MAR) and Enes Kazazić, Chief Executive Officer of the SEIC, as the investor. A separate agreement was signed between the SEIC, Marriott International, Inc and Interstate Hotels & Resorts for the hotel management.

Marriott International, Inc. is a leading hospitality company with more than 3,800 properties in 74 countries and 18 hotel brands. Founded by J. Willard and Alice Marriott and guided by Marriott family leadership for more than 80 years, the company is headquartered in Bethesda, Maryland, USA.

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“This is the first Residence Inn by Marriott in Bosnia and Herzegovina. The SEIC is proud for having been in charge of this project. With this, SEIC will not only bring the first international hotel brand to the country but contibute to rightfully restoring Sarajevo to the position it deserves – on the map of worldwide metropolises. Raising the living standards is the main and the basic motto of the SEIC business operations,” stated Kazazić.

The Residence Inn by Marriott as a pioneer in extended stay, will fill a gap in this segment and offer a blend of modern style and functionality. The hotel in Sarajevo will consist of 73 studios and one and two bedroom suites, with ergonomically designed working area, complimentary breakfast and onsite guest laundry. Each suite will include fully-equipped kitchens, fitness studio for relaxation as well as all other hotel services 24-hour a day.

“The Residence Inn Sarajevo is our first hotel in Bosnia and Herzegovina and we are delighted to be working with SEIC Group and Interstate Hotels & Resorts as we expand into new territories in Europe,” commented Ervin. Architectural design of the project is managed by the bureau "Argentaria" from Sarajevo with consultancy from Switzerland based bureau approved by Marriott, Carbone Design. General contractor of construction works is Strabag. The overall value of investment is 8 million EUR. The construction is expected to be complete by the end of 2014.

SEIC - South European Investment Company consists of some of the largest financial and real estate companies from the GC and the EU, such as ICD member of the Islamic Development Bank Group, 3Y Fur Logistic und ProjektBetreuung GmBH, Dallah Al Baraka Holding, Abdullah Al Othaim for Real Estate, Masarat Construction, Annahdah Medical and others. In Bosnia and Herzegovina, SEIC is involved in four fields: real estate, business consulting, renewal energy and tourism.

About Residence Inn

With more than 600 properties in the United States, Canada, Europe, the Middle East and Central America, Residence Inn by Marriott is a leader in the extended-stay lodging segment. Designed for long stays, the brand offers spacious suites with separate living and sleeping areas. Fully functional kitchens, grocery delivery, 24-hour markets and complimentary breakfast help guests maintain a healthy balance while on the road. Complimentary Wi-Fi allows guests to stay connected to the home and office, while health and fitness options and inviting lobby spaces provide comfortable places to work and relax.