H. Mark Daley III, president of The Generation Companies, plans to build at least six additional Candlewood Suites franchised properties during the next two years.

The new 122-suite hotel is located at 4120 Brookriver Drive in west Richmond, Va., near the four million square-foot Innsbrook Business Park where several Fortune 100 companies operate. Candlewood Suites offers value without sacrificing amenities, providing a comfortable �home on the road� experience for business people and other travelers. Standard features include a fully equipped kitchen, large working area, dual phone lines, free local phone calls and incoming faxes, free guest laundry facilities and other benefits appreciated by busy travelers. Guests get a quarter at check-in to buy their first soft drink in the �Candlewood Cupboard,� a food and sundries pantry based on the honor system.  �This is our first Candlewood,� said Daley III, �and we think it is a tremendous vehicle for our long term growth as we aggressively develop our niche in the lodging industry.�

Candlewood President Jim Roos said, �Opening the 75th Candlewood Suites is an important milestone for us and having The Generation Companies aboard makes it even better.�

The Generation Companies chose Candlewood for a number of reasons, according to Daley III. �Candlewood established a successful nationwide brand before they began an expanded franchise program. They tested their own product and proved the public wants it. We liked that. Candlewood�s operating methodologies are right in line with ours, as well: quality operations vs. managing for shorter-term results, investing in employees, and delivering exceptional value to the guest.�

�We look forward to a long and rewarding relationship with Candlewood and with the Richmond business community,� he added.

Daley III�s business approach clearly reflects the influence of his father and grandfather and respect for their accomplishments.

Daley Sr. left college during the Great Depression to care for his siblings and widowed mother. Working as a bank teller until he raised enough capital to start his first entrepreneurial venture, he opened Builder�s Hardware in downtown Rocky Mount, N.C. in 1939. He went on to develop several other successful business ventures and a curiosity about the lodging industry.
Daley and his wife were frequent travelers on the old Highway 301, driving from Rocky Mount to Wrightsville, Ga., to visit extended family members. Daley was fascinated with the motels springing up along the way. He often stopped to visit with the owners of a new Holiday Inn�so often in fact, that his wife put her foot down.  �My grandmother finally said to him, �Either build it or forget it�you already know everything you need to know to run one.�� said Daley III. �So in 1959 my grandfather built his first Holiday Inn - I think it was the 60th one in the U.S.�

Daley Sr. opened more hotels and passed his experience to his son, Hugh Mark Daley Jr., who became a highly successful real estate developer. Daley Jr. oversaw the growth of Daley Investments, partly by creating strong partnerships with companies outside the family. He built one of the first Holidomes and a reputation for quality operations.

Third-generation H. Mark Daley III founded The Generation Companies in 1996. His grandfather is retired but his father, Daley Jr., serves on the board of directors. Company headquarters are in Chapel Hill, N.C. The firm has management or development responsibility for more than $75 million in assets and over 110 associates in North Carolina, Kentucky and Virginia.

Candlewood Hotel Co. owns, operates and franchises Candlewood Suites, which targets mid-market business travelers and others on short or long-term travel. Chairman and CEO Jack DeBoer, who also founded Residence Inn and co-founded Summerfield Suites in the 1970s and 1980s, founded Candlewood in 1995. He is recognized in the hotel industry as the creator of the extended-stay concept. www.candlewoodsuites.com