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Q1 2008 Client Newsletter |
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01 April 2008 |
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$500 Million in Development Projects Underway |
BridgeStreet Worldwide, as the property management division for Sorrento Asset Management, experienced a record-breaking year of profitability and growth, with expansion plans for 2008 already underway:
- 505 North State Street, Chicago - an exciting joint collaboration with Kimpton Hotels & Restaurants; the building will feature 145 corporate apartments complemented by more than 200 four-star hotel rooms.
- 306 W 48th Street, Manhattan - this mixed-use property includes commercial space and 122 apartments with spectacular views of the Hudson River and Downtown.
- 47 East 34th Street, Manhattan - located one block from the Empire State Building, this building offers 110 spacious apartments with top of the line design features and finishes
- 156-176 St John Street, Clerkenwell, London EC1 - part of a mixed-use development in the trendy Clerkenwell area, the building will have 48 apartments with European designed kitchens and baths
Valued at over $500 million, these projects reflect the strength and profitability in the corporate housing sector and further establish BridgeStreet Worldwide as a trendsetter and dominant player in the industry.
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BridgeStreet Wins Two Industry Awards |
BridgeStreet Worldwide received two "Tower of Excellence" awards, presented at the Corporate Housing Provider Association's (CHPA) annual conference in Las Vegas. BridgeStreet won the award for "Large Provider of the Year – Individual Member". This prestigious honor which acknowledges an outstanding member who has demonstrated commitment and excellence within their company and the industry. An additional award was presented for "Best Community and Philanthropic Program", which recognizes the company who has provided the most assistance or benefit to the community.
Stephen Hanton, BridgeStreet's Chief Operating Officer and Managing Director of EMEA, took home the honor of "Large Provider of the Year - Individual Member". The award cited Stephen as an exceptional international leader that is taking the corporate housing product into new countries and cities – expanding the reach of the industry.
Mr. Hanton's outstanding leadership has been instrumental in forging serviced apartments as a mature and recognized sector within the hospitality industry. Under his guidance our EMEA region achieved significant economic growth and brand recognition in 2007 that continues to propel BridgeStreet, and the serviced apartments sector, forward toward exciting global opportunities, innovative service programs and industry betterment.
BridgeStreet received the "Best Community and Philanthropic Program" award for its multi-faceted approach to charitable giving. The company organized activities from its annual 5K Run and Beach Olympics to benefit the American Cancer Society and the AdoptaPlatoon Soldier Support Effort to local programs supporting homeless shelters and literacy campaigns.
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Liberty Apartments in Channel Islands Opens |
The Channel Islands are a group of islands in the English Channel, off the French coast of Normandy that offer a favorable banking climate.
Liberty Apartments – a 63-unit property located in St. Helier, Jersey is situated in Liberty Wharf, at the heart of Jersey's waterfront revitalisation, the building project is scheduled for completion in April 2008. The area's flourishing business community and affluent leisure travelers have resulted in a growing demand for serviced apartments. Guests of Liberty Apartments by BridgeStreet Worldwide will enjoy stylish, fully furnished apartments in an ideal location with convenient access to shopping, dining and entertainment options.
Stephen Izatt, Managing Director, Waterfront Enterprise Board also highlighted the benefits the apartments will bring to the area. "Serviced apartments are an important part of the user mix in Liberty Wharf. They will add to the vibrancy of the waterfront area as well as providing a great service for visitors to the island. The provision of local jobs is also a welcomed benefit to the area."
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Bob Barnett - New Senior Vice President of Sales |
Mr. Barnett joins the organization as Senior Vice President of Sales. With more than 20 years of experience in executive leadership and sales roles in the hospitality industry, Mr. Barnett is ideally suited to lead BridgeStreet's sales force, as well as directly contribute to the company's overall growth.
Prior to joining BridgeStreet, Barnett served as President of Concentric Consulting Group where he provided strategy and operations assistance and training to corporate and non-profit clients. Barnett also served as Brand Vice President for Residence Inn by Marriott where he initiated programs that lead to significant improvements in sales, operating profit, market share and customer satisfaction.
Barnett has held various corporate and operations positions with Residence Inn and Marriott Hotels including serving as National Director of Sales and Reservations, Regional Manger and General Manager. Prior to his time with Marriott, Barnett worked with Guest Quarters Hotels in sales and marketing, operations and finance. Barnett holds an MBA from the Darden School at the University of Virginia and a BA from the University of Virginia.
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Join Us for a Learning Session at ERC San Antonio - May 8th |
BridgeStreet Worldwide will be participating in an industry overview at ERC in San Antonio, Texas May 7 – 9th, 2008. The session titled “New Strategies for Corporate Housing Solutions” will be held on May 8th, 2008 at 3:30 P.M.
Prior to this event, ERC will be sending out a survey to its membership and the results from this survey will be shared during this session. If you are interested in participating in this survey, please contact Mindy Pauley with BridgeStreet Worldwide at mindy.pauley@bridgestreet.com.
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Green Friendly Building Opening
Atelier Apartments by BridgeStreet |
Atelier Apartments is one of the first serviced apartment buildings in London to benefit from green technology which results in over 10% of its energy use coming from renewable and self sustaining sources.
The power and hot water systems are provided with energy from photovoltaic panels on the roof. These incorporate an advanced form of solar panel technology utilizing light and sun energy.
The building has been built to comply with the Ecohomes rating of very good. This is especially relevant as many corporate users of serviced apartments are looking for accommodations that are environmentally friendly.
In addition, the building has been constructed to the latest energy efficient standards; all lighting and electrical installations are low energy and highly efficient. Other considerations for the environment include recycling with bin separation within the kitchens, standby lighting in the common parts and elevators.
Other amentities offered at Atelier Apartments by BridgeStreet:
- Two elevators serving just 24 apartments
- 24 hour concierge
- Wifi & hard wired Internet
- Flat screen TV
- Luxury feathers beds from Sweden
- In room food service provided by the world famous Bleeding Heart Restaurant
- Luxurious interiors created by famous interior designers
Atelier Apartments will accommodate short-term and long-term guests by offering fully equipped serviced apartments on a daily, weekly, or monthly basis. The building - situated in the heart of Hatton Gardens, is opposite the well known Bleeding Heart Restaurant and within a 2 minute walk of Farringdon and Chancery Lane tube stations.
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BridgeCare - Employee Recognition Program for Exceptional Service |
To reinforce our commitment to superior service, our associates participate in a recognition program, BridgeCare, which encourages them to go the extra mile for every guest and rewards them for it. BridgeStreet is passionate about creating value and comfort. It's not just a core value we talk about in our vision statement - it's one of the many we practice each day.
CONGRATULATIONS, MELANIE
2007 BRIDGESTAR WINNER!
Melanie Buechler, the Account Manager in New York, realized that a high percentage of guests were expatriate spouses who often felt overwhelmed by the transition of living in a new city. Melanie was determined to improve their relocation experience and make their lives a little easier. With the aid of relocation professionals, she created a networking forum titled "What About Me?" that brings these guests together in a social and educational setting. The program offers assistance by having them share ideas, experiences and knowledge while also providing them with advice on assimilating into a new culture.
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