Generation will Manage Suburban Extended Stay Hotel in Bentonville, AR
Developed and Owned by Nueterra Real Estate Development, LLC
RESEARCH TRIANGLE PARK, NC, September 15, 2008. 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 and Arkansas announces the opening of the Suburban Extended Stay Hotel in Bentonville, Arkansas later this month. The 118-room economy-priced hotel was developed and is owned by Nueterra Real Estate Development, LLC of Leawood, Kansas, a full spectrum real estate development and management services company specializing in medical, commercial and hospitality projects. The property will be managed by Generation. Generation veteran Tara Primm, formerly of the Suburban Extended Stay of Greensboro NC, has been named general manager.
Nueterra President and CEO Kevin Stuckey believes awarding the management of the hotel to Generation will benefit not only the two companies but also the community. "The Generation Companies has a long track record of successful, profitable operations," he noted. "People are a key factor in any successful venture and Generation is populated with professionals with can-do attitudes."
"We are excited about opening the Bentonville Suburban on behalf of owner Kevin Stuckey and his partners," said Generation President H. Mark Daley III. "We have known and respected Mr. Stuckey for years and are pleased to be managing this hotel for him. As the largest operator of Choice extended stay properties, we have an operational team that is unsurpassed for this type of hotel. The Suburban Extended Stay Hotel brand offers an incredible value to guests that have either short or long term stay needs. This brand new hotel will be a wonderful addition to the Bentonville community."
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, Tennessee, Texas and Arkansas. 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.
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