|ARLINGTON, Va., November 14, 2006-BridgeStreet Worldwide, a leading international provider of corporate housing, today announced that it had formed an alliance with ALE Solutions making BridgeStreet the sole corporate housing provider for ALE Solutions. Focused exclusively on the insurance industry, ALE Solutions is a nationwide temporary housing provider for catastrophe teams and for displaced policyholders who have lost their homes as a result of fire, natural disasters or other catastrophes. With the formation of this partnership, BridgeStreet Worldwide and ALE have become the largest insurance housing solutions providers in the US.
ALE, an acronym for "additional living expense," is an insurance industry term referring to policy coverage that provides temporary housing for insured owners who have lost their homes due to such disasters as fire or flood. Last year, the insurance industry provided temporary housing for more than 25,000 displaced families, including many homeowners in the Gulf region displaced by Hurricane Katrina.
"We help people during what may be the most stressful times of their lives," said Rowena Zimmers, president and owner of ALE Solutions. "They've lost their home and are trying to resettle their family in a suitable living situation, a very daunting task. As much as anything else, they need personalized attention. The last thing they want to worry about is finding the right housing that fits their immediate needs.
"We wanted to partner with a firm to provide corporate apartments that had a long history and deep commitment to guest service excellence, and knew how to compassionately handle the process from beginning to end. ALE chose BridgeStreet because of their proven expertise in working with customers to find appropriate housing quickly and their total commitment to delivering a superb customer service experience."
"This is our first venture into the insurance industry and plays directly to all of our strengths," said Lee Curtis, BridgeStreet's president. "First and foremost, BridgeStreet Worldwide offers one of the industry's most extensive inventories of fully furnished apartments in a full range of sizes and market segments. We are located in more than 100 MSAs throughout the United States and internationally. Add in a deep culture and strong history of exceptional service for our guests, and you have an unbeatable combination. When ALE determines that the best housing option for the family is a corporate apartment, BridgeStreet will provide the apartment while ALE handles the details and complexities of the claims process, allowing displaced families to focus on rebuilding their lives.
"With our BridgeCare program and its focus on making things easier for our guests and clients, we are a natural choice," Curtis said. "BridgeCare has helped us build a deeper culture of exceptional service for our guests."
ALE Solutions, Inc, headquartered in St. Charles, Illinois, is a nationwide temporary housing provider focused exclusively on serving the needs of the property insurance claims industry. ALE Solutions' temporary housing options range from commercially available hotels and furnished corporate suites to apartments, condos, town homes, single family homes, mobile homes and trailers. ALE's insight and appreciation for the unique needs of all parties enables it to provide the adjuster and policyholder with the optimal housing solution whatever the situation, a solution that is both convenient and appropriate for the policyholder, and cost-efficient for the insurance company. To learn more, please visit www.alesolutions.com or call 1-866-885-9785.
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 approximately 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 October 31, 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.