Corporate Housing Leader Launches Global Alliance Program in Europe
ARLINGTON, Va., May 18 /PRNewswire/ -- BridgeStreet Worldwide, a
leading international provider of corporate housing to business and leisure
travelers, today announced that it has expanded its global network of
top-quality, fully equipped, furnished corporate apartments to 13 key
destinations throughout Europe. Already the largest serviced apartment
provider in the United Kingdom and a full destination services provider in
France, BridgeStreet-certified corporate housing accommodations are now
available in Berlin, Frankfurt and Munich, Germany; Oslo, Norway; Geneva
and Zurich, Switzerland; Milan and Rome, Italy; Prague, Czech Republic;
Copenhagen, Denmark; Helsinki, Finland; and Malmo and Stockholm, Sweden.
This dramatic growth was achieved through the expansion of the
company's proprietary Global Alliance (BGA). Under the BridgeStreet Global
Alliance program, the company certifies top local and regional providers of
serviced apartments in Europe to ensure that they meet the total quality
standards of the BridgeStreet brand.
"Our European expansion came about in direct response to a growing
number of our multi-national clients who seek longer term accommodations of
comparable quality to BridgeStreet's U.S. accommodations for their
executives traveling overseas," said Lee Curtis, BridgeStreet president.
"Through an expansion of our successful Global Alliance program, we are
selectively recruiting the highest quality local corporate housing
providers in Europe and working with them through a rigorous certification
process. Those providers who join our alliance must be committed to the
same values, quality, and consistency measures that have become
BridgeStreet hallmarks, as well as to the consistent delivery of superior
customer service.
"In addition to these 13 European cities, and our successful operation
in London and Paris, we plan to add a number of locations in Eastern Europe
by June 1st. These destinations are among 50 international strategic
markets we have targeted, where, over the next three to five years we would
like to expand our presence through our Global Alliance program. We are
very optimistic about our growth potential internationally, and believe the
BridgeStreet Global Alliance will enable us to grow more rapidly and will
significantly enhance our leadership position," Curtis stated.
"From our members' perspective, the Global Alliance allows them to grow
their businesses by becoming a resource to their local customers for
housing needs outside of their immediate markets and by posting their
locations on BridgeStreet's international Web sites, which enables them to
receive inbound business generated by the growing BridgeStreet brand reach.
International locations are searchable and bookable via the company's Web
site, http://www.bridgestreet.com. In addition, our network shares
marketing, sales, technology and operational resources, ultimately
generating more business for each member. Concurrently, it further
solidifies our relationship with our customer base by providing a growing
number of important markets."
Stephen Hanton, vice president of European operations, noted that the
company's goal in Europe, as in the U.S., remains meeting and exceeding
clients' needs for product and service quality in corporate apartment
accommodations and to be the easiest corporate housing provider to do
business with. "To ensure the quality and consistency of all BridgeStreet
serviced apartments worldwide, we undertake an exhaustive due diligence
program at each property and for each partner that also allows them to earn
certification over time."
Additional information about BridgeStreet's Global Alliance may be
obtained from Nigel Carter, director, BridgeStreet Global Alliance Program,
+44 (0) 20 7792 2222, nigel.carter@bridgestreet.com.
BridgeStreet Worldwide, a subsidiary of Interstate Hotels & Resorts
(NYSE: IHR), 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 100 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 http://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, 2005.
Contact:
Jerry Daly or Carol McCune
Daly Gray Public Relations (Media)
(703) 435-6293
SOURCE BridgeStreet Worldwide
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Related links:
http://www.bridgestreet.com
CONTACT:
Jerry Daly or Carol McCune of Daly Gray
Public Relations, +1-703-435-6293, both for BridgeStreet
Worldwide
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