The Residence Inn is Saddle River's first hotel and fills a long-standing need, particularly among the surrounding businesses, for residential-style accommodations for people staying five days or longer, such as consultants, special project teams and those participating in training programs," said Paul Viapiano, general manager. "There are a large number of major corporations headquartered here in Bergen County, including BMW, Mercedes, Becton Dickinson, Datascope, KPMG and Sharp.
"In addition, our guest mix will include many families that are relocating to the area, who will appreciate our proximity to first-rate shopping and dining, including the Garden State Plaza Mall in Paramus, the giant Palisades Center Mall in Nyack and the Woodbury Commons Premium Outlets in New York state.
"For those travelers looking for an affordable, long-term alternative to a city hotel, we also are within an hour of Times Square and downtown New York City," Viapiano noted. "We believe our incredible northern New Jersey location, combined with our unique, residential-style hotel, will appeal to a broad cross-section of business and leisure travelers."
Located at 7 Boroline Rd. in Saddle River, N.J., about 30 minutes from Newark International airport, the four-building, three-story, extended-stay hotel offers 174 fully furnished, apartment-like studio suites and one- and two-bedroom suites for the price of a conventional hotel room. Each suite offers separate living and sleeping areas, a fully equipped kitchen with refrigerator, microwave and coffee maker. A complimentary hot breakfast buffet in the Gatehouse and an evening hospitality get-together Monday through Thursday are included. The property also features an outdoor pool, heated whirlpool and sport court.
"We provide cordless telephones and CD alarm clock/radios in the suites, amenities that contribute to the home-like atmosphere," Viapiano said. "Another unique feature we offer is wireless Internet access, which means that for a modest fee, our guests can connect to the Internet anywhere on the property without worrying about being tied to a phone line."
The property is owned by Innkeepers USA Trust
[NYSE: KPA]
, a hotel real estate investment trust (REIT) and a leading REIT owner of upscale, extended-stay hotel properties throughout the United States. The hotel is the REIT's fourth property in New Jersey. "We expect the Saddle River property to be very competitive in the northern New Jersey market," said Jeff Fisher, Innkeepers' chief executive officer and president.
Innkeepers USA Trust owns 67 hotels with a total of 8,196 suites or rooms in 23 states and focuses on acquiring and/or developing Residence Inns and other upscale extended-stay hotels and the rebranding and repositioning of other hotel properties.
Cautionary statements set forth in reports filed by the company from time to time with the Securities and Exchange Commission discuss important factors impacting, or that could impact, the company and its results or forecasted results. These factors include, without limitation, (i) risks that disruption in oil imports, changes in domestic or international political environments, war, terrorism or similar activity would have results that could negatively affect the travel industry and/or company in ways and to an extent that cannot be anticipated, (ii) the relative strength and performance of businesses and industries that are important demand generators in the company's key markets, (iii) international, national, regional and local economic conditions that will, among other things, affect demand for the company's hotel rooms and the availability and terms of financing, (iv) the company's ability to maintain its properties in competitive condition, (v) the company's ability to acquire or develop additional properties and risks that potential acquisitions or developments may not perform in accordance with expectations, (vi) changes in travel patterns or the prevailing means of commerce, i.e., e-commerce, and (vii) the complex tax rules that the company must satisfy to qualify as a REIT, and other governmental regulation.
41st NBTA International Convention & Exposition
