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Bosnia Herzegovina's Sarajevo Canton Suad Zeljković met on 1st October in Sarajevo with representatives of Overseas Private Investment Corporation on construction of a Marriot hotel in the Bosnia Herzegovina capitall. Zeljković said it is about a high-class business hotel to be constructed at the location of Skenderija.
"Hilton and Marriot are one house but with various level of quality. Return of invested money is directly proportional to hotel quality, ie the higher level of hotel quality - the longer period of money return. Therefore the investor's decision is to construct a Marriot hotel while the story on Hilton remains open," Zeljković said.
OPIC Director Kenneth Angel stressed that this investment helps US companies who wish to invest outside America, with special accent on development projects. "In BiH we are considering a project of Marriot hotel company, a US brand. The franchise contract is foreseen with Sarajevo's Lake," Angel said.
He added that this hotel will respect the latest standards of green hotel development.
"The project will be linked to Marriot hotel chain and is the first project in which OPIC will be the investor in BiH."
Lake Director Nedžad Bubica explained that construction of the hotel has already begun but added that the key thing is to respect strict Marriot standards.
"American Development Bank is ready to finance our project. We expect the hotel to be completed by next year," he said. FIPA
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