Industrial News

"This is our industry's equivalent of an academy award," said Stephen Hanton, senior vice president of European Operations. "We are honored to be recognized by this most important constituency, the U.K. business travel community. Over the past twenty years, BridgeStreet Worldwide has shaped standards for serviced apartments in the United Kingdom - many other providers watch us closely as we lead the industry here. We are totally committed to maintaining the highest standards of product and service excellence, and it's very gratifying to have our international business model validated in this way."

Hanton noted that BridgeStreet Worldwide is the leading serviced apartment provider in the U.K., with accommodations in more than 40 locations. "In 2006, we continued our exponential growth within the U.K. with the addition of new properties in Leeds and Birmingham. We now have the largest inventory of serviced apartments in the U.K., and we are actively expanding throughout Britain and the European Union through our Global Alliance Program - a network of selectively recruited serviced apartment providers that BridgeStreet has built from the ground up." Recognizing the trend for minimum-term, flexible business and leisure accommodations, BridgeStreet Worldwide specializes in contemporary furnished apartments in major global cities for travelers seeking independence, privacy and security.

Hanton added that BridgeStreet sees continued growth opportunities in a large number of international markets. "Our European expansion came about in response to a growing number of our multi-national clients with executives traveling overseas who were seeking longer term accommodations of comparable quality to BridgeStreet's U.S. accommodations," he said. "London was a natural choice as our first location, and we quickly established a major presence there. We then expanded to Paris and, this past summer, to 13 other major European cities. Since then, we have added a number of locations in Eastern Europe to our growing international network. These destinations are among 50 international markets we have targeted, where, over the next three years we plan to expand our presence."

Buying Business Travel is the U.K.'s leading travel business publication serving travel and meeting buyers, decision-makers and arrangers, in companies and organizations ranging from multi-national corporations to small and medium enterprises, providing news, product and destination information and technology updates.

The magazine's Buying Business Travel Awards are among the most coveted in the U.K. travel business community. Winners are selected annually by an exclusive panel of travel industry specialists and a variety of travel buyers from large and small companies, representing the broad spectrum of travel sectors. Each candidate is rated in a variety of categories, BridgeStreet's award was presented recently at the magazine's annual awards Ball at London's Hurlingame Club.

BridgeStreet Worldwide is one of the world's largest corporate housing providers. BridgeStreet and its network of Global Partners offer approximately 10,000 corporate apartments located in over 100 MSAs throughout the United States and 50 cities internationally. An award winner both in the U.S. and Europe, 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 www.bridgestreet.com or call 1-800-BSTREET.

Based in Dublin, Ireland, Sorrento Asset Management is a leading provider of wealth management products and services, focused primarily on return on equity transactions. Formed in 2004, Sorrento's strength comes from its ability to structure high quality, off-market residential and commercial property transactions with guaranteed yields and full management, giving investors turn-key investment solutions. The company's investment products and services include a significant property portfolio in the U.K., Ireland, Europe and the U.S., structured products and private finance transactions, equity investments and pre-and post-retirement funds.

Contact:
Kelly Murphy
BridgeStreet Worldwide
813.909.2445