William F. Smith, Managing Director Real Estate and Construction

Mr. Smith is a real estate professional who has over 36 years experience in the hospitality industry in hotel and restaurant acquisition, divestiture, renovation, and development, as well as operational supervision, and franchising. He oversees all real estate activities for the company to include land and hotel acquisitions, contract negotiations, franchise selection, permitting, design, construction management, and purchasing.

Prior to joining The Generation Companies, he served as Vice President, Hunter Realty Associates, Inc, and President of Hospitality Receivership Advisors, LLC, Director of Development for Holiday Inns Inc., Holiday Corporation, Bass Hotels Worldwide, ITT Sheraton, and Starwood Hotels and Resorts Worldwide in the Mid-Atlantic, Mid Western, and Southeast Region.

After serving in the Air Force and departing as a Captain in 1972, he joined Holiday Inns, Inc. He held numerous positions and departed in 1981 as the Vice President of Financial Administration for the Hotel Group which was comprised of 320 domestic and international hotels. From 1982 through 1984 he was Senior Vice President of Food Systems, Inc., and successfully took a subsidiary company public with Raymond James and Associates. He then joined National Capital Companies as Executive Vice President, operations and development, and merged that company with Federated Home & Mortgage Corporation.

From 1986 through 1987, he served as a Franchise Operations Director for Holiday Corporation. From 1988 until his departure in 1995, he held the position of Director of Development for the Southeast overseeing the licensing and franchise development of over 450 hotels. Mr. Smith joined ITT Sheraton Corporation as Director of Development for the Mid-Atlantic and continue through the merger with Starwood Hotels and Resorts until leaving in late 2001 when he joined Hunter Realty Associates, Inc., Atlanta, Ga. as Vice President, Broker, and Manager of the Raleigh Regional Office. He is also President of Hospitality Receivership Advisor, LLC which serves as a Court Appointed Receiver for distress hotels or properties in foreclosure.

He holds a B.S. Degree from the University of Tennessee and an M.B.A. Degree in Real Estate Finance from Memphis University, completed Cornell University’s Brokerage Certification in Hospitality Valuation Analysis, and the recipient of numerous achievement awards from the major hotels corporation were he was employed. In addition, he is an approved Receiver of the North Carolina Superior Court, has served as a Debtor in possession in Chapter 11 proceedings, and a license Real Estate Broker in several states.

Jeffrey P. Castleberry, Director, Acquisitions & Development

Mr. Castleberry has over 23 years of commercial real estate experience including construction and permanent financing, mortgage banking with institutional investors and commercial brokerage activities including both investment sales and leasing. He served as Senior Vice President and Regional Manager of Commercial Real Estate for Wachovia Bank in Raleigh, Vice President and Principal of Renaissance Capital and most recently as President of Renaissance Real Estate, Corp., a brokerage firm focused on land and improved property sales and leasing. Prior to his joining The Generation Companies, Mr. Castleberry had served in a consulting role assisting Generation with the acquisition of the Mainstay Suites in Port St. Lucie, Florida.

Mr. Castleberry holds a B.S. Degree in Business Administration from the University of North Carolina at Chapel Hill and completed the Young Executives Institute program at the Kenan Flagler Business School at UNC-Chapel Hill. He is a licensed Real Estate Broker in North Carolina.