Shamrock Corporate Housing Named ``2006 Corporate Housing Company of the Year;'' Dramatic Win for South Florida Provider Signals Future Trend in Corporate Housing Business Model.

SUNRISE, Fla. -- In a dramatic surprise that may signal the future of the industry, Shamrock Corporate Housing was named the "2006 Corporate Housing Company of the Year" by the Corporate Housing Providers Association (CHPA). By winning this award, the South Florida-based company with only 35 employees was selected over much larger, well-established corporations with thousands of employees around the world. The CHPA Tower of Excellence Awards were presented Feb. 9, 2006 at the organization's annual conference in Newport Beach, CA.

"While we have tremendous confidence in our singular business model, the quality of our housing, and the service that comes with it, we were nonetheless quite humbled and amazed to receive our industry's highest honor," said CJ Chuman, chief operating officer for Shamrock. "With respect to our competitors - many of whom are also our clients - this selection validates our core philosophies, and goes to show that bigger is not necessarily better."

Shamrock is the only corporate housing provider that develops and builds apartment communities for the primary purpose of furnished corporate housing. "Shamrock is unique in building corporate housing communities with a concentrated focus on the weekly or monthly extended stay guest. They've been successful with this innovative approach," said Mary Ann Passi, executive director of CHPA, the only global trade association dedicated to the corporate housing industry. "It will be interesting to see how their unique strategy influences the corporate housing industry in the future."

Founded in Miami in 1995, Shamrock owns and maintains three properties throughout South Florida (in Kendall, Coral Gables, and Sunrise) which combine the flexibility and service of a luxury hotel with the long-term needs delivered by apartment communities. Shamrock's properties offer the perfect solution to business travelers who want the services of a hotel, but prefer the space and environment of a more residential community. Guests also find that Shamrock's rates are surprisingly competitive with most hotels.

To fully appreciate the innovative nature of Shamrock's business strategy, it is important to understand the nature of corporate housing itself. The industry has traditionally been comprised of two business models: third-party providers and apartment communities. Third-party providers own no real estate or buildings. Rather, they lease available apartments and attempt to "create" corporate housing in properties throughout a city. Also providing housing are certain apartment communities which occasionally offer corporate housing programs as an add-on, yet are primarily focused on renting to unfurnished residents on a long-term lease.

Shamrock has dramatically established a completely new tier of corporate housing by designing, building, and managing properties specifically for the needs of weekly or monthly guests. Like a hotel, employees are on-site every day to attend to the needs of guests; and like an apartment, guests enjoy full-sized floor plans (one, two and three-bedrooms) with reasonable long-term rates. Guests also have the benefits of custom-made furnishings and full amenities such as kitchen items, linens, and accessories. In addition to on-site staff, Shamrock's property amenities include swimming pools, fitness rooms, and business centers at most locations.

Shamrock's clients typically choose the properties for employees who must be housed in South Florida for training, relocation, or long-term projects. An example of this includes one of the National Football League's most respected franchises, which frequently chooses Shamrock's Sunrise facility for prospective players and coaches. "Shamrock came along at a great time for the Miami Dolphins," said Jamie Allen, the team's director of Player Development. "I was looking for another option for our players that was nicer than your typical extended stay, but not as expensive as a corporate apartment. Shamrock proved to be the best of both worlds."