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Media Contact:

Melissa Micallef, Oakwood Asia Pacific

(65) 6885 1045

melissa.micallef@oakwoodasia.com

OAKWOOD WORLDWIDE EXPANDS THAILAND PRESENCE WITH THIRD PROPERTY – OAKWOOD RESIDENCE THONGLOR BANGKOK

Company plans to double its portfolio in Thailand by 2012

SINGAPORE (June 17, 2009) – Oakwood Worldwide, the leading, global temporary housing provider, today announces the opening of Oakwood Residence Thonglor Bangkok, its newest property in Bangkok, Thailand.  Along with Oakwood's now three Bangkok properties, the Company has plans to double its portfolio in Thailand by 2012.

"I am pleased to see the continued growth of our brand across Asia which gives us access to new markets and new customers while providing additional alternatives to our global customers." said Steve Selcer, President and COO of Oakwood Worldwide.

"Thailand remains a key focus of Oakwood's expansion plans in Asia," says P. G. Mathew, Managing Director of Oakwood Asia Pacific. "This property complements our two existing serviced apartments in Bangkok and strengthens Oakwood's growing presence in Thailand."

"We are delighted to open Oakwood Residence Thonglor Bangkok as it marks the beginning of a long and close relationship that we wish to share with Oakwood," said Pravina Srisakulchawla, of Fifty Five Co., Ltd., the owners of the property. "We selected Oakwood to manage this exclusive property due to its sterling reputation for delivering a trusted service with close to 50 years experience", she  added.

John Bendtsen, General Manager of Oakwood Residence Thonglor Bangkok says, "Located in the middle of Sukhumvit area, the property is ideal for families and corporate travelers. Thonglor, the hub for harmonious city living attracts expatriate families and relocating business travelers from all over the world, who require comfortable and secure living".  

Oakwood Residence Thonglor Bangkok is located in one of Bangkok's most exclusive residential real estate areas, Sukhumvit Road at Soi 55. With direct access to J Avenue, the area is lined with high-end malls and a collection of restaurants, night life and spas.  Housing 67 spacious, fully furnished units, including studios, one, two and three bedroom apartments, the property provides a range of facilities, amenities and services including;

·          Rooftop pool

·          Residents' lounge

·          Restaurant with alfresco dining

·          Fitness center

·          Balcony in every apartment

·          24-hour front office and security

·          Laundry and dry cleaning services

Oakwood Residence Thonglor Bangkok is the latest addition to the company's growing portfolio of serviced apartments in Asia.  This opening further demonstrates the exceptional brand growth of Oakwood in Asia Pacific, with nine serviced apartments having opened in slightly more than two years.  

About Oakwood Worldwide

Oakwood Worldwide 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 3,500 Oakwood associates worldwide, nearly 23,000 apartments, and more than 300 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 nearly 50 years.

A division of Oakwood Worldwide, Oakwood Asia Pacific manages Asia's finest serviced apartments for business and leisure travelers in China, India, Indonesia, Japan, Korea and Thailand. An additional 26 properties are scheduled to open by 2012 in strategic locations across Asia Pacific. Oakwood Asia Pacific operates Oakwood Premier, Oakwood Residence, Oakwood Apartments, Oakwood Premier Resorts, with Oakwood Resorts coming soon.

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