Versa Capital affiliate acquires BridgeStreet Global Hospitality
An affiliate of Versa Capital Management has acquired Bridge Street Global Hospitality, a serviced apartment specialist with than 50,000 locations in 60 countries.
The investment, which follows on the heels of BridgeStreet's recent rebranding and international growth, will elevate BridgeStreet's presence and create new opportunities for development projects and long-term growth.
"BridgeStreet recently has made great strides in establishing itself as the leader of serviced apartment experiences worldwide," says Gregory L Segall, CEO of Versa Capital. "Now that the company is strongly capitalised, with no third party debt, it is well positioned to accelerate its growth and we look forward to working with the company's strong management team to continue building BridgeStreet's operations and service offerings. By providing travellers worldwide with unparalleled hospitality experiences, delivered through an efficient and customer-centric operating platform, we believe BridgeStreet will create sustainable growth over the long term."
Sean Worker, BridgeStreet CEO, says: “Versa is the ideal owner for our strategy as it is a firm with the resources and expertise to help us continue to build and grow our business. With the recent launch of BridgeStreet Global Hospitality, the brand is thriving, and we expect it will continue to flourish through this new venture with Versa."
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