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Lisa Beers, VP, Public Relations
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Governor Rowland Helps Break Ground for New Marriott Hotel in Southington

SOUTHINGTON, CT, November 1, 2001 – Governor John Rowland today officiated the groundbreaking ceremony for the new Residence Inn by Marriott hotel in Southington. The new hotel, located along Interstate 84, just off exit 31 (West Street), will be a three story, extended stay hotel with 94 suites, a 50-seat breakfast buffet, business center, fitness room, indoor pool, and approximately 1,000 square feet of meeting space. It is expected to open in the summer of 2002.

Extended stay hotels, such as Residence Inn by Marriott, have been the fastest growing segment of the hotel industry over the last several years. Residence Inn by Marriott, in particular, has generated wide consumer acceptance among business travelers across the country. The new hotel project is expected to create more than 120 direct and indirect construction jobs, and will employ 35 associates at opening.

Wolman Construction of Waterford, CT will be the general contractor building the new Southington Residence Inn by Marriott. Upon completion of construction, Waterford Hotel Group, also of Waterford, will manage and operate the new hotel. The hotel will be owned by a

partnership of affiliates of Connecticut-based Waterford Group, LLC, and Nutmeg Partners, LLC, together with Michigan-based Slavik, Inc. Collectively, the owners bring several decades of professional experience to the project, including commercial and residential development, construction expertise, and hotel development and management. Southington Savings Bank is providing debt financing for the property and its construction.

Governor Rowland was joined at the groundbreaking ceremony by Len Wolman, Chairman of Waterford Group, LLC (parent company of both Wolman Construction and Waterford Hotel Group), Mark Wolman, President of Wolman Construction, William DePaolo, Chairman of the Town Council for the Town of Southington, William Taylor, Senior Vice President of Southington Savings Bank, and Stacy Sylvester of Marriott International.

In breaking ground for the new hotel, Governor Rowland said that “tourism and lodging in Connecticut have enjoyed exceptional growth over the last few years, and the development of this hotel reflects a belief that these industries will continue to grow in Connecticut.” He also noted that “the construction of a new hotel in the face of a decline in nationwide lodging revenues since September 11 is yet another piece of evidence suggesting that the national economy has just hit a temporary bump in the road, and that prospects for a quick economic recovery are very positive.”

Tourism is one of six economic clusters that the Department of Economic and Community Development has identified as key drivers of future economic development in Connecticut.

William Taylor, Senior Vice President of Southington Savings Bank, said that he is “extremely confident that economic growth will continue to be strong in the Southington area, and that more hotel capacity is necessary to sustain that growth.” He added, “Waterford Hotel Group, with years of experience managing hotels, particularly in Connecticut, knows what’s required to attract visitors to Southington.”

Waterford Group’s Chairman Len Wolman said that his company “already enjoys success in the Southington area, and chose to add a second hotel in the area to its portfolio because he is very optimistic about the economic outlook in and around Southington.” Waterford Hotel Group currently manages the Holiday Inn Express of Southington.

Wolman Construction has many years of experience building hotels, most notably the brand new 285 room Mystic Marriott and Spa in Mystic, CT. Waterford Hotel Group manages 26 hotels in Connecticut and throughout the US, including 11 Marriott products, as well as the Holiday Inn Express in Southington.