|ARLINGTON, Va.--Aug. 21, 2003--BridgeStreet Corporate Housing Worldwide, the leading international provider of corporate housing to business travelers, today announced that it has named H. Lee Curtis as its new president, effective immediately. Curtis will replace Thomas F. Vincent, BridgeStreet's current president, who has decided to retire. BridgeStreet is a wholly owned subsidiary of Interstate Hotels & Resorts (NYSE: IHR - News), the nation's largest independent hotel management company.
Curtis, a 16-year veteran of the hospitality industry, previously was executive vice president of operations at BridgeStreet. He joined BridgeStreet in 2000 from Globe Corporate Stay International, where he served as regional manager.
"With his proven record of success and operations background, Lee Curtis is eminently qualified to assume the leadership role at BridgeStreet," said John Emery, president, Interstate Hotels & Resorts. "Since joining BridgeStreet, Lee has been instrumental in developing new, service-enhancing concepts such as BridgeCare, BridgeStreet's customer service outreach program, and SimpleBill, which offers guests a flat $0.12 a minute for state-to-state direct dial calls. Lee's determination to 'wow' the customer is matched only by his drive to streamline and standardize operations. His ability to do both, with each complementing, rather than compromising the other, has been the key to BridgeStreet's growing popularity.
"Thom Vincent has been a major influence in the corporate housing industry and has helped build BridgeStreet into an industry leader," Emery added. "We wish him equal success in his retirement."
BridgeStreet, together with Global Home Network, offers corporate apartments throughout the United States, Canada, the United Kingdom, France, and 40 other countries around the world. BridgeStreet properties meet uncompromising standards of quality, comfort and service. BridgeStreet is headquartered in Arlington, Va. For more information, 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 the current slowdown of the national economy, economic conditions generally and the real estate market specifically, the impact of the events of September 11, 2001, 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, 2002.