By: Yahoo Finance
(23-05-2001)

WASHINGTON--(BUSINESS WIRE)--May 23, 2001--MeriStar Hotels & Resorts (NYSE: MMH - news), the nation's largest independent hotel management company, today announced that its BridgeStreet Corporate Housing Worldwide subsidiary has entered the Manhattan market. The company will offer corporate housing units located in the heart of the city's financial district and midtown Manhattan, including studio, one- and two-bedroom corporate apartments.

BridgeStreet has opened an office in Manhattan to spearhead expansion of the brand in New York. Concurrently, BridgeStreet has opened an office in Chicago to serve its 40 locations in the Chicagoland area.

``New York is an important addition to our corporate housing destinations,'' said Paul W. Whetsell, chairman and chief executive officer of MeriStar Hotels & Resorts. ``The BridgeStreet concept is becoming increasingly popular as companies look for cost-effective lodging alternatives in a slow-growth economic climate. This brings our total number of cities to 24 in the United States, Canada and the United Kingdom. We expect to enter additional markets and open more offices as we continue to expand our presence both in North America and Europe.''

``New York and Chicago are major business hubs for international corporations,'' said Thomas Vincent, president of BridgeStreet. ``Among international business travelers, BridgeStreet is a well-known and trusted name. We are opening these offices in response to a number of international and national clients who seek BridgeStreet's high-quality, temporary housing in these markets. Our first New York units are located at 85 John, which is a classic, newly renovated building three blocks from the New York Stock Exchange, featuring a 24-hour doorman, on-premises garage and easy access to restaurants, shopping and fitness facilities. In Chicago, we offer one-, two- or three-bedroom accommodations in more than 40 downtown and suburban locations, with flexible lease terms ranging from one week to a month or longer.''

BridgeStreet Corporate Housing Worldwide, a subsidiary of MeriStar Hotels & Resorts, is one of the world's largest corporate housing providers, offering upscale, fully furnished corporate housing throughout the United States, Canada and the United Kingdom and 39 additional countries. For more information about BridgeStreet Corporate Housing Worldwide, visit the company's Web site: www.bridgestreet.com.

MeriStar Hotels & Resorts also operates 268 hospitality properties with more than 55,000 rooms in 36 states, the District of Columbia, Canada, and Puerto Rico, including 54 properties managed by Flagstone Hospitality Management, a subsidiary of MeriStar Hotels & Resorts. Through its Doral Golf division, MeriStar manages 11 golf courses. For more information about MeriStar Hotels & Resorts, visit the company's Web site: www.meristar.com.

This press release contains forward-looking statements about MeriStar Hotels & Resorts, Inc., including those statements regarding future operating results and the timing and composition of revenues, among others. 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 the following: the ability of MeriStar Hotels & Resorts to successfully implement its acquisition and operating strategies; the company's ability to manage rapid expansion; significant leverage; changes in economic cycles; competition from other hospitality companies; and changes in the laws and government regulations applicable to the company.