The hotels identified for sale to PaineWebber in the letter of intent signed this morning include: the 298-room Doubletree Park Place Hotel in Minneapolis; the 245-room Del Mar Hilton in Del Mar, CA; the 224-room Holiday Inn San Francisco; the 257-room Valley River Inn in Eugene, OR; the 325-room Ramada Inn San Francisco; the 223-room Embassy Suites Hunt Valley in Hunt Valley, MD; and, the leasehold on the 410-room Hyatt Newporter in Newport Beach, CA.

In a separate transaction, Patriot American announced that it anticipates closing on the sale, pursuant to an earlier agreement, of 100% equity interests in two hotel properties and 50% equity interest in two hotel properties to Milton D. Fine, a director of Patriot American Hospitality, Inc., for an aggregate purchase price of $41.5 million.

This transaction, which the Company expects to complete later this week, includes 100% equity interests in the 98-room Courtyard by Marriott in Westborough, MA and the 156-room Residence Inn by Marriott in Pittsburgh, as well as 50% equity interests in the 121-room Courtyard by Marriott in Orange, CA and the 122-room Courtyard by Marriott in St. Louis. Proceeds from this transaction will be used for general working capital purposes.

According to Paul A. Nussbaum, Patriot's chairman and chief executive officer, divesting of these hotel assets comports with the Company's long-term strategy as originally articulated by management earlier this year. "Since completing our merger with Wyndham Hotels last January, we have said that we would divest of certain hotel assets that were not candidates for conversion to our core Wyndham brand, particularly as we've focused this year on broadening the distribution of this brand both domestically and internationally. These transactions complement our strategy by providing us capital with which to continue our brand-broadening efforts and will enhance our focus on the operation of our strategic assets," he said.

Patriot American also announced that PaineWebber has agreed, subject to senior management approval and the completion of the sale transaction, to extend the maturity on $138 million in secured debt held by PaineWebber, and originally due on December 31, 1998.

About Patriot American Hospitality, Inc. and Wyndham International, Inc.

Based in Dallas, Texas, Patriot American Hospitality, Inc. (NYSE:PAH) is currently the nation's second-largest hotel real estate investment trust (REIT) with a portfolio comprised of 486 owned, managed, leased or franchised hotels and resorts with more than 105,000 rooms. Its paired operating company, Wyndham International, Inc., comprised of the Grand Bay Hotels Resorts Division, the Wyndham Hotel Group, the All-Suites Division and PAH Management Services, leases, manages and franchises primarily upscale and luxury hotel and resort properties represented by its proprietary brands and provides management services for third-party owned hotels and resorts.

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. The Company's actual results could differ materially from those set forth in the forward-looking statements. Certain factors that might cause such a difference include competition for guests from other hotels, dependence upon business and commercial travelers and tourism, the seasonality of the hotel industry, and availability of equity or debt financing at terms and conditions favorable to the Companies and other factors detailed in the Companies Quarterly Report on Form 10-Q dated June 30. 1998, Current Report on Form 8-K dated November 9, 1998, Registration Statement on Form S-3 (File No. 333-58705) and Registration Statement on Form S-3 (File No. 333-65339).