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BridgeStreet Worldwide-Chicago Wins CAMME Award in Annual Competition
Chicagoland Apartment Association Recognizes BridgeStreet for Fifth Consecutive Year
Wednesday, October 18, 2006
ARLINGTON, Va., October 18, 2006-BridgeStreet Worldwide, a leading international provider of corporate housing, today announced that its Chicago office has received for the fifth year in a row the prestigious CAMME Award for "Best Corporate Housing Program" from the Chicagoland Apartment Association (CAA). CAMME awards recognize excellence in guest service, management and marketing within the Chicago area apartment management community, based on a variety of operating statistics. The prize was presented recently at CAA's 2006 annual awards banquet at the Chicago Hilton and Towers in downtown Chicago.

A second CAMME Award went to BridgeStreet Chicago and AMLI Residential as a co-entry in the "Corporate Suites Under 25" category. BridgeStreet is the exclusive provider of short-term furnished housing and related services for all of AMLI Residential's apartment complexes in Chicago and eight other major U. S. markets, under a partnership agreement the companies announced in February.

"With the winning of our fifth consecutive CAMME for the city's best corporate housing program, BridgeStreet Chicago has set a new high water mark for service excellence for our entire company and the industry as a whole," said Lee Curtis, BridgeStreet Worldwide president.

"This award is particularly gratifying, considering the eventful year we had in Chicago in 2006, which included our successful acquisition and integration of Chicago-based Twelve Oaks Corporate Housing and our partnership with AMLI.

"We are extremely proud of Kevin Killoren, BridgeStreet Worldwide regional manager, and his Chicago team," Curtis added. "They have given new meaning to our "whatever it takes" business philosophy and to guest service excellence. We congratulate them on their exceptional accomplishment."

The annual black-tie event was attended by property management companies and corporate housing companies throughout the Chicagoland area. Winners were selected by a group of more than 100 judges, who rated each candidate in a variety of categories, including marketing strategy, overall program design, services offered, implementation, results, professionalism, property design and how it reflects current trends, and guest satisfaction.

BridgeStreet Chicago offers business and leisure travelers one-, two- and three-bedroom, fully furnished apartments in more than 45 downtown and suburban locations, with flexible lengths of stay, ranging from one week to a month or longer.

BridgeStreet Worldwide, a subsidiary of Interstate Hotels & Resorts (NYSE: IHR), is one of the world's largest corporate housing providers. BridgeStreet and its network of Global Partners offer more than 10,000 corporate apartments located in over 100 MSAs throughout the United States and internationally. BridgeStreet properties meet uncompromising standards of quality, comfort and service. For more information about the company or to learn more about how BridgeStreet is Making Corporate Housing Easy, visit www.bridgestreet.com or call 1-800-BSTREET.

As of September 30, Interstate Hotels & Resorts operated 232 hospitality properties with more than 52,000 rooms in 40 states, the District of Columbia, Canada, and Russia. For more information about Interstate Hotels & Resorts, visit the company's Web site: www.ihrco.com.

This press release contains "forward-looking statements," within the meaning of the Private Securities Litigation Reform Act of 1995, about Interstate Hotels & Resorts, including those statements regarding future operating results and the timing and composition of revenues, among others, and statements containing words such as "expects," "believes" or "will," which indicate that those statements are forward-looking. Except for historical information, the matters discussed in this press release are forward-looking statements that are subject to certain risks and uncertainties that could cause the actual results to differ materially, including changes in the national economy, economic conditions generally and the real estate market specifically, the threat of future terrorist attacks, governmental actions, legislative and regulatory changes, availability of debt and equity capital, interest rates, competition, supply and demand for lodging facilities in our current and proposed market areas, and the company's ability to manage integration and growth. Additional risks are discussed in Interstate Hotels & Resorts' filings with the Securities and Exchange Commission, including Interstate Hotels & Resorts annual report on Form 10-K for the year ended December 31, 2005.