Generation Breaks Ground on New Wilmington, NC Extended Stay Hotel
Contact : William F. Smith, The Generation Companies (919-313-7223)

July 20, 2009

(RESEARCH TRIANGLE PARK, NC) The Generation Companies LLC (Generation), a Research Triangle Park, North Carolina-based real estate developer, owner, asset manager and operator of extended-stay hotels, recently broke ground for Homewood Suites/Wilmington-Mayfaire, an upscale 118-room extended-stay hotel. The property, located in the Mayfaire Development at 6732 Swan Mill Road, is scheduled to open in late spring 2010. “We are pleased to break ground on such a significant development project in the midst of a still dysfunctional credit market. Receiving the support we need from our investors and lenders in this difficult economic environment is a vote of confidence for Generation that makes us very grateful,” said H. Mark Daley, Generation President.

Homewood Suites/Wilmington will be an upscale 118-room extended-stay suite hotel with 56 king studios, 2 two-bedroom suites, 11 one-bedroom suites and 49 one-bedroom double queen bed suites. The king accommodations will be outfitted for the business traveler while the queen suites will be designed for families and groups. Suites will feature wired and wireless high speed Internet access, 32” flat screen TV with DVD/CD player, work desk and full kitchen. Hotel amenities will include an executive business center, spacious meeting room, dining area with buffet, complimentary breakfast, comfortable seating areas, Sweet Shop, expanded exercise facility, guest laundry, and large pool and whirlpool with an extensive courtyard.

The Generation Companies is a Research Triangle Park, North Carolina-based real estate
developer, asset manager and operator of extended-stay hotels in Kansas, North Carolina, Virginia, Florida, Tennessee, Texas, Arkansas and Georgia.  Generation has more than 2700 hotel rooms and $200 million in real estate assets under management, and employs over 350 associates at 26 properties, with more under construction.  Generation is actively seeking new acquisition and development opportunities in the extended stay segment.

For more about Generation, visit www.generationcompanies.com.