April 29 , 2008

(AUGUSTA, GA) On Thursday, May 1, the Candlewood Suites/Augusta, GA., the area's newest mid-priced extended-stay all-suites hotel, will celebrate its grand opening from 4:00 to 6:00 p.m. Greater Augusta Chamber of Commerce dignitaries will officiate at a ribbon-cutting and guests will enjoy Indian cuisine and fare from Rhinehart's Oyster Bar. Hotel owner G.B. Sharma; other members of Claussen Hospitality; and the hotel's management team, The Generation Companies, will welcome the guests.

The Candlewood Suites/Augusta, an IHG product, recently achieved Gold Hotel status in the IHG system, earning an impressive 91.8% on a national quality assurance assessment that measures cleanliness and guest satisfaction. "We're honored to manage this hotel for the Sharmas," said Generation Vice-President of Operations Ron Jacobsen, "Their family has deep roots in owning quality hotels in Georgia and the southeast. We look forward to providing exceptional guest service through our passionate property management team." Claussen Hospitality's next Candlewood venture, in the Athens, GA market, is slated to open in the spring of 2009.

According to G.B. Sharma, Generation's domain knowledge is vital to the property's success. "The Generation Companies' profound and prolonged experience in managing extended-stay products, especially Candlewood Suites, was the main reason we chose them to manage our hotel. We expect this to be an excellent partnership." Robert Radomski, Vice-President of IHG, believes travelers to the Augusta area will benefit from the Candlewood Suites the most. "We're very pleased to have two of our strong allies -- developers and management company – working together in the Augusta area. The teaming together of Generation and Claussen Hospitality really sets us up for success, which ultimately means delivering outstanding service to our guests."

Just 2 miles from Augusta National, the 80-room extended-stay hotel is located at 1080 Claussen Road, and offers rates ranging from $69/night for extended stay to $129/night for shorter stays of one to six nights. The Candlewood provides a unique amenity package including free wireless and wired Internet service; an oversized desk and executive chair; recliner; bulletin board; and fully-equipped kitchen with hardwood floors and granite counter tops, and appliances including a standard refrigerator and dishwasher, a range and complete set of utensils. All suites have at least one 32-inch flat panel LCD television with DVD player. The Candlewood also boasts a complete exercise room, business center, free washers and dryers, free local calls, a complimentary video and CD library, and the Candlewood Cupboard, a 24-hour honor system pantry. For reservations, call 706 733-3300.

The Generation Companies is a Research Triangle Park, North Carolina-based real estate developer, asset manager and operator of extended-stay hotels in North Carolina, Virginia, Florida and Tennessee. Generation has more than 2400 hotel rooms and $200 million in real estate assets under management, and employs over 350 associates at 24 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