Generation Companies to Manage Extended Stay Hotel in Jacksonville, NC
RESEARCH TRIANGLE PARK, NC, June 30, 2009 - The Generation Companies, LLC (Generation) a Research Triangle Park, North Carolina-based real estate developer, asset manager and operator of extended-stay hotels in North Carolina, Virginia, Florida, Tennessee, Texas, Georgia, Kansas and Arkansas has been awarded the management contract for the Jacksonville, NC Suburban Extended Stay Hotel located near Camp Lejeune. The approximately $8.5 million 121-room economy-priced hotel, currently under construction and slated to open in early 2010, was developed and is owned by Hotel de Estadia Estindida, a North Carolina limited liability company.
Hotel de Estadia Estindida owner Terry Leifheit is pleased to be partnering with Generation on the project. "Generation came highly recommended and displays the integrity, professionalism and proven track record of success that we were looking for in a partner on our first hotel venture," Leifheit stated. "We will be starting construction on our second project shortly, a 120-plus room extended stay Mainstay Suites in Jacksonville, NC. We will call on Generation to help with the planning and operations of that project as well. We look forward to a long and profitable relationship with Generation."
"We're delighted to have been chosen by Mr. Leifheit and his partners to operate this latest, upgraded prototype Suburban Extended Stay Hotel," said Generation Vice-President of Operations, Ron Jacobsen. "I'm confident that the combination of their local Jacksonville history and contacts with our extended stay operating team will prove to be very successful."
The Suburban Extended Stay Hotel Jacksonville room rates are expected to range from $69 to $109, depending on the length of stay. Rooms are equipped with a complete kitchen, including microwave, full size refrigerator, stove-top, coffee-maker, cookware and utensils; complimentary high speed internet (wireless/Ethernet); cable television; weekly housekeeping service; and on-site guest laundry. The Suburban Extended-Stay Hotel brand is a part of Choice Hotels International, home of brands such as Comfort Inn and Sleep Inn.
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