|ARLINGTON, Va., September 9, 2004—BridgeStreet Worldwide, a leading international provider of corporate housing to business and leisure travelers, today announced that it has added five new partners to its growing Global Partner Program. The new partners extend BridgeStreet’s reach into seven additional markets, including Atlanta; Detroit; Kansas City, Kan.; Omaha, Neb.; and Orlando, Fla. in the United States and Ottawa and Toronto in Canada.
BridgeStreet’s Global Partner Program is a unified 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.
“With the addition of these new Global Partners, BridgeStreet Worldwide has added 1,425 high-quality corporate apartments to our network, allowing us to offer even more location options to our clients,” said Lee Curtis, BridgeStreet president. “This brings our overall coverage to 8,780 units in 91 MSAs (market statistical areas) worldwide.
“Our quality assurance process in these markets has been extensive, reflecting the thoroughness of our research in determining which corporate housing providers meet our product and service quality standards,” he added. “We also have uncompromising standards for integrity and reliability, and choose partners whose corporate personas match up well with our program.
“We plan to continue reaching out to other corporate housing companies where we don’t have a presence as part of our Corporate Housing Made Easy initiative, which we launched last month,” Curtis said. “Our goal is to continue expanding our network to additional locations globally to provide our client base with growing coverage and greater choice.”
BridgeStreet’s new Global Partners and their locations are:
Based in Toronto, MSB Furnished Suites is the single largest provider of furnished suite accommodations in Canada. The new Canadian partner, owned by Thom Vincent, a long-time industry leader, will operate under the BridgeStreet Worldwide name, an option available to all partners under the license agreement. “By joining the BridgeStreet Global Partnership, we are able to provide dramatically improved geographic and product diversification for our
customers,” Vincent said. “As a BridgeStreet Global Partner, MSB now offers customers a true one-stop shopping experience for corporate apartments.”
- Leading Apartments (George Quay IV, president)—Detroit, Mich.
- MSB Furnished Suites (Thomas Vincent, president)—Toronto and Ottawa, Ontario, Canada
- Suite Properties, Inc. (Rita Jarvis, president)—Omaha, Neb., Kansas City, Kan.
- TP Corporate Lodging (Timothy Miller, president)—Atlanta, Ga., and surrounding areas
- Wynne Residential (Michael Henderson, president)—Orlando, Fla.
Suite Properties’ President Rita Jarvis believes partnering with a market leader like BridgeStreet offers a number of key advantages. “Not only does joining BridgeStreet Global Partner Program exponentially increase our potential universe of customers, it enables us to pass leads online and book outbound business into global locations, via BridgeStreet’s Interleads booking system.”
For more information about BridgeStreet’s Global Partner Program, contact Lorna Bosco, BridgeStreet director, Global Partner Program, (703) 387-3603, firstname.lastname@example.org.
BridgeStreet is a wholly owned subsidiary of Interstate Hotels & Resorts (NYSE: IHR), the nation’s largest independent hotel management company. BridgeStreet and their network of Global Partners offer more than 8,700 corporate apartments in 91 MSAs throughout the United States and internationally. BridgeStreet properties meet uncompromising standards of quality, comfort and service. BridgeStreet is headquartered in Arlington, Va. For more information or to learn more about how BridgeStreet is Making Corporate Housing Easy, visit www.bridgestreet.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, 2003.