|ARLINGTON, Va., November 16, 2005-BridgeStreet Worldwide, a leading international provider of corporate housing to business and leisure travelers, today announced that the company has expanded into the Pacific Northwest and San Francisco markets through its Global Partner program. BridgeStreet's newest partner, Pacific Guest Suites (PGS), extends the BridgeStreet network of corporate apartments into the Seattle/Bellevue market. Concurrently, BridgeStreet announced that its long-time partner, Synergy Corporate Housing, has added to its inventory in Northern California with the opening of properties throughout downtown San Francisco.
BridgeStreet's Global Partner program is a licensed network of corporate housing providers who meet BridgeStreet's consistently high product and service standards. The program attracts top local and regional providers of corporate housing who share a deep commitment to consistently exceeding client and guest expectations and to simplifying the corporate housing experience.
Synergy Corporate Housing
"Synergy Corporate Housing is one of our first Global Partners and is regarded as the corporate housing provider of choice in Northern California," said Lee Curtis, BridgeStreet president. "For the past two years, we have enjoyed a very successful relationship with Synergy, together offering premier locations in the East Bay, Silicon Valley and south of San Francisco, down the peninsula. With this expansion into San Francisco and with our new properties in Seattle, our accommodations coverage extends to 95 metropolitan locations worldwide. Our goal is to continue expanding the location options we offer to our clients."
"As a BridgeStreet Global Partner, we have been able to dramatically improve geographic and product diversification for our customers," said Jack Jensky, Synergy Corporate Housing principal. "As a result, we have expanded market share and have enhanced customer satisfaction and loyalty."
Pacific Guest Suites
"The Pacific Northwest and San Francisco areas are key markets for us and provide new opportunities for BridgeStreet Worldwide to introduce travelers to the unique benefits of corporate housing, compared to traditional hotels," Curtis said. "Pacific Guest Suites is the leading corporate housing provider in Seattle and has many locations throughout the city and surrounding suburbs. PGS offers extremely high quality corporate suites and more important, PGS shares BridgeStreet's uncompromising commitment to quality and consistent delivery of superior customer service."
"We are very interested in growing our business, and feel that we can achieve this more quickly through a partnership with BridgeStreet Worldwide," said Bill Neil, PGS president. "Being part of the BridgeStreet Global Partner program significantly increases our reach and allows us to offer national and international locations to our current corporate clients."
For more information about BridgeStreet's Global Partner program, contact Mike Screptock, manager, BridgeStreet Global Partner program, (330) 405-0380, firstname.lastname@example.org.
BridgeStreet Worldwide, a subsidiary of Interstate Hotels & Resorts, is one of the world's largest corporate housing and serviced apartment providers. BridgeStreet and its network of Global Partners offer corporate apartments located in over 90 MSAs throughout the United States and internationally. BridgeStreet properties meet uncompromising standards of quality, comfort and service. For more information about the company and to learn more about how BridgeStreet is Making Corporate Housing Easy, visit www.bridgestreet.com or call 1-800-BSTREET.
This press release contains "forward-looking statements," within the meaning of the Private Securities Litigation Reform Act of 1995, about BridgeStreet, a wholly owned subsidiary of 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, 2004.