Media Contact:

Kim Miranda
1.310.444.2204

kmiranda@oakwood.com

March 8, 2010

OAKWOOD® CELEBRATES 50 YEARS OF  

INNOVATION IN TEMPORARY HOUSING

Founder and leading international provider marks landmark anniversary

March 8, 2010 - Los Angeles, CA – What started with the slogan "Living Where the Fun Is" for young single professionals in Southern California is well known now as the leading provider of temporary furnished and serviced apartments worldwide.  Oakwood is proud to celebrate their 50^th year providing housing solutions to travelers looking for reliable, flexible, and comfortable accommodations for short and long term stays.

"We are extremely appreciative to be in our 50^th year of business," says Howard Ruby, Founder and Chairman "over the years we've hired over 36,000 professionals and served thousands of clients – all of whom we thank for being part of this milestone celebration.  The foundation of our success is our culture which is centered on our Associates who passionately strive to meet the needs of our clients and guests every day."

Ruby started it all in 1960 with two business partners when he realized there was a need for custom-designed housing for young singles in Los Angeles.  The concept was a smash success and soon developed into housing exclusive to professional business travelers.  Full-size apartments with furnishings, home electronics, and other amenities & services proved to be the perfect alternative to hotel stays for extended business trips.  Expansion throughout North America and into EMEA and APAC in the 1970's, 80's, and 90's solidified Oakwood as a recognized brand and market leader.

"This year, Oakwood celebrates a milestone of not only founding an industry, but of evolving to meet emerging market needs," says Ric Villarreal, President "Our success is a direct result of Howard founding the company and maintaining his entrepreneurial spirit that has lead our growth and adaptability over the years."

Oakwood won't go down in history for industry leadership and innovation alone – a commitment to greening the company and to Associate growth and development are key to the culture.  Ruby's personal interest as a wildlife photographer led him to spark a greening initiative at the company and eventually partner with the National Wildlife Federation (NWF).  The recently launched Climate Classroom Kids website grew out of Oakwood's early success of engaging Associates in teaching young students about the effects of climate change. 

"Howard has given us opportunities to have a direct hand in the global expansion of the company," said Kim Miranda, Director of Marketing "His energetic and visionary style has allowed us to engage in unique training, marketing, and social responsibility programs that not only help capture business, but have a truly self-satisfying effect."

And how does Ruby, who has served as Chairman and COO the last 35 years, feel about seeing Oakwood grow from being the most desired apartment communities in Los Angeles to being the most trusted name in temporary housing worldwide? "I still live where the fun is," he says with a smile "It just never stops when you are doing something you love."

About Oakwood Temporary Housing

Oakwood is the global leader and provider of furnished and serviced apartments. For one need or many, local or around the globe - Oakwood offers flexible, easy-to-use, custom solutions to meet any temporary housing need.
 
A wide range of inventory and supplier management options allows Oakwood to provide the optimal housing solution whenever and wherever needed. With more than 3,000 Oakwood associates worldwide, nearly 15,000 apartments, and more than 400 network partners, Oakwood can meet any need and delivers with reliability clients can trust.

Their staff of trained professionals throughout the world, innovative technologies, and unparalleled customer service have made Oakwood the premier choice in temporary housing solutions for 50 years.

For more information, please visit www.oakwood.com.