CINCINNATI, OH -- Spectrum Networks, Inc., a national telecommunications management company, announced today that it has signed a multi-year telecommunications management contract with BridgeStreet Worldwide. Under the contract terms, Spectrum will manage BridgeStreet's telecommunications services, including local and long distance phone service for the company's corporate and regional offices and its network of apartment communities throughout the United States. BridgeStreet Worldwide, a subsidiary of Interstate Hotels & Resorts (NYSE:IHR), is one of the world's largest providers of furnished apartments to individuals, corporations, families, and government travelers.
"Our portfolio is widespread and just as we manage our room inventory, we must manage our controllable costs, including local and long distance telephone services," said Lee Curtis, president of BridgeStreet Worldwide. "With Spectrum, we will be able to immediately adjust the communications needs of each of our individual corporate apartments electronically. Spectrum will save us thousands of man-hours, which will allow us to provide better service to our guests while dramatically reducing costs and time-consuming paperwork, compared to working with multiple telecommunications providers.
"We also now have one common, integrated system and the ability to test and quickly implement cutting-edge technology to continue to provide our guests with all the tools they need to make their stay with us as pleasant as possible," he noted. "Signing with Spectrum is all part of our strategy to be the easiest corporate housing provider to do business with."
One key component of the agreement is BridgeStreet's use of Spectrum's Online Order Management & Inventory System. The inventory system automates and efficiently tracks the telecommunications services Spectrum provides to each of BridgeStreet's national locations.
"Our systems match up well with the complex process of managing BridgeStreet's telecommunications services, which are highly dynamic," said Troy McCracken, president and CEO of Spectrum Networks. "We take the pressure off of BridgeStreet for micro-managing a large, complex telecommunications network, which frees them to focus on guest service."
About BridgeStreet Worldwide
BridgeStreet Worldwide, a subsidiary of Interstate Hotels & Resorts, is one of the world's largest Corporate Housing and Serviced Apartment providers. BridgeStreet and its network of Global Partners offer more than 8,700 corporate apartments located in 91 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.
About Spectrum Networks
One of the country's foremost telecommunications management companies, Spectrum Networks, Inc., provides a single source of unique value-added services to organizations that seek to eliminate unwarranted complexity and cost from telecom administration. Based in Cincinnati, Spectrum oversees all facets of companies' multiple carrier relationships, from network design through vendor selection, implementation, management, and optimization. Spectrum's offerings include expert carrier-independent consulting, proven customer support, and its TruePay(R) billing management system, which accurately tracks and audits carrier bills, ensuring invoice accuracy and carriers' contract compliance. For further information, please visit http://www.sniusa.com/.
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, 2004.
Source: Spectrum Networks, Inc.
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CONTACT: Celeste Larkins of Spectrum Networks Inc., +1-513-697-2000
Web site: http://www.sniusa.com/
http://www.bridgestreet.com/
About This Release
If you have any questions regarding information in this press release, please contact the organization listed in the press release. Issuers of press releases and not TCI are solely responsible for the accuracy of the content.
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