BridgeStreet Worldwide Named as Exclusive Corporate Apartment Manager for New, Luxury Condo in New York City's Times Square
2006年10月4日 - 10:58PM
PRニュース・ワイアー (英語)
Marks Company's Expansion into New York's High-End Apartment Sector
ARLINGTON, Va., Oct. 4 /PRNewswire/ -- BridgeStreet Worldwide, a
leading international provider of corporate housing, today
announced that the company has been named as the sole corporate
housing manager for the recently opened, luxury condominium
building at 1600 Broadway in the heart of New York City's Times
Square. The new, 26-story tower features a total of 137 studio,
one-, two- and convertible three-bedroom residences, 50 of which
have been set aside in an exclusive collection of corporate
apartments that will be available to BridgeStreet guests to reserve
as corporate housing. The contract marks BridgeStreet Worldwide's
expansion into New York's super luxury corporate housing. "Many of
our clients are multi-national corporations with executives
traveling back and forth between Europe and New York, who seek and
expect an extremely high level of quality in both accommodations
and service," said Lee Curtis, BridgeStreet president. "This
exceptional addition to our furnished apartments inventory
increases the reach of our portfolio in this key market and allows
us to serve an increasingly diverse international clientele. With
this contract, we now will offer our clients traveling to New York
City a full spectrum of top-quality, fully furnished, full-service
accommodations, from mid-market to super luxury. "Along with our
partner Furnished Quarters, we have built a stellar reputation for
the BridgeStreet Worldwide brand in New York over the past few
years, and being chosen as the exclusive provider of corporate
housing for this incredible building is very rewarding," he added.
"We have more than 30 years of experience in property management,
and a proven ability to bring a consistently high level of guest
satisfaction to the table." Located at the corner of Broadway and
48th Street in the heart of Times Square, the multi-use retail and
residential tower was developed by owner Sherwood Equities on the
site of the former Studebaker Building. All units feature upscale
details, such as granite countertops, floor-to-ceiling windows and
Subzero, Miele, LG and Bosch stainless steel appliances. Building
amenities include a fitness center, entertainment lounge, virtual
golf, a putting green, a rooftop observatory and a business center.
The midtown location is within minutes of the city's major
transportation hubs, Rockefeller Center, the Theater District, and
the Times Square Financial District. "We looked at a number of
operators, but none had BridgeStreet's proven track record and
level of expertise in this market," said Steven Novick, president,
Sherwood Residential. "We also liked their global reach, offering
guests instant access to similar accommodations all over the
world." "This property will become the centerpiece of our New York
corporate apartment portfolio, and we plan to actively seek
additional opportunities in the luxury segment," Curtis remarked.
Rates for apartments start at $190 per night and are available for
stays of 30 days and longer. To view photos of the property, go to
http://www.bridgestreet.com/. 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 more than 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 http://www.bridgestreet.com/ or call
1-800-BSTREET. As of August 31, Interstate Hotels & Resorts
operated 247 hospitality properties with more than 55,000 rooms in
40 states, the District of Columbia, Canada, and Russia. For more
information about Interstate Hotels & Resorts, visit the
company's Web site: http://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.
Contact: Jerry Daly or Carol McCune Daly Gray Public Relations
(Media) (703) 435-6293 DATASOURCE: BridgeStreet Worldwide CONTACT:
Jerry Daly or Carol McCune of Daly Gray Public Relations,
+1-703-435-6293, for BridgeStreet Worldwide Web site:
http://www.bridgestreet.com/ http://www.ihrco.com/
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