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South America, Atlantica Residence Mid-Market Rates with Upscale Hotel Services |
| São Paulo, June 30, 2000 � Choice Atlantica
Hotels, one of South America�s fastest growing hotel management and franchise
companies, has launched a new brand of residential properties called Atlantica
Residence. Intended for mid-market consumers who want residence-style living,
either as a primary home or for periodic extended visits, the apartments
offer upscale hotel services at mid-market apartment prices.
�This is a totally new concept in South America,� said Paul J. Sistare, president and CEO of Choice Atlantica Hotels. �Atlantica Residences will meet the needs of the growing numbers of professionals who regularly visit South America�s major cities for extended periods of time as well as apartment-dwellers who want a full-time hotel services such as a bilingual, trained concierge to arrange things like housekeeping, theater tickets and dinner reservations.� To date, five Atlantica Residence projects with 985 apartments are underway. The projects represent an investment of more than $64.1 million. All properties are located in major cities near other Choice Atlantica Hotels properties to capitalize on efficiencies available by sharing hotel staffs and to ultimately keep the rental price of the apartments at a mid-market level. Properties target the mid-market residential consumer and feature concierge services, including daily housekeeping, grocery shopping, babysitting, theater tickets, laundry and dinner reservations. All Atlantica Residence properties also feature business centers, fitness centers and carefully designed social areas. �The Atlantica Residence concept was born of a need brought to our attention by our investors and partners who wanted us to manage their apartment buildings,� said Sistare. �We suggested combining the services available at our traditional hotels with the residential living at the apartments, and our partners met the idea with tremendous enthusiasm.� Sistare added there was tremendous potential for further development of Atlantica Residence properties. The Atlantica Residence properties presently include:
 An
independent hotel-management company, São Paulo-based Choice Atlantica
Hotels is currently one of the largest hospitality companies in South America
with more than 58 projects under contract representing an investment by
Choice Atlantica and its partners of more than US $626 million. Adding
hotels at the pace of two per month, Choice Atlantica Hotels owns the master
franchise agreement for the development of Choice Hotels International
products in Brazil, Argentina, Chile, Peru, Ecuador, Paraguay, Uruguay
and Bolivia. Among the company�s brands are Sleep Inns; Comfort Inns, Hotels
& Suites; Quality Inns, Hotels & Suites; and Clarion Inns, Hotels,
Suites & Resorts. All four franchise flags provide clean, safe
and comfortable facilities at rates business and leisure travelers can
afford. While the hotels offer different rate and service options, they
consistently feature a high level of quality. The group has regional offices
in Buenos Aires, Argentina and Santiago, Chile. |
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Mona Mesereau Choice Atlantica Hotels USA Office 8181 W. Broward Blvd. Suite 380 Ft. Lauderdale, FL 33324 Tel. (954) 382-1340 [email protected] www.choiceatlantica.com |