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Michael DeNicola  Appointed by Carlson Hospitality Worldwide as EVP, Carlson Vacation Ownership, Inc. 
 
NEW YORK (Dec. 3, 1998) ---- Carlson Hospitality Worldwide, targeting growth in the leisure segment of the lodging industry as a key strategy for the new millenium, today announced that it is entering the vacation ownership business and has appointed an executive team to oversee the expansion. The new company has been named Carlson Vacation Ownership, Inc.

"We will expand into the vacation ownership business through development and licensing of vacation ownership properties under our global lodging brands including Radisson Hotels Worldwide, Regent International Hotels and Country Inns & Suites By Carlson," said Curtis Nelson, president and chief executive officer of Carlson Hospitality Worldwide.

"The special value we bring to vacation ownership is our established lodging brands and our parent company's wealth of expertise in the leisure travel and marketing fields," said Nelson. "The timing is ideal," explained Nelson. "Consumers have shown a growing interest in vacation ownership, especially when affiliated with a known and proven global hotel brand. The National Leisure Travel Monitor found in a recent survey of leisure travelers interested in purchasing timeshare that 71 percent prefer a brand affiliation. This preference continues each year as hotel brand participation becomes more prevalent," he added.

Executive Team Named

To support Carlson Hospitality Worldwide's expansion into vacation ownership with Carlson Vacation Ownership, Inc., Carlson Hotels Worldwide President Eric Danziger appointed a Vacation Ownership executive team. Danziger will oversee the company's expansion into the new venture. Michael DeNicola has been appointed to the position of Executive Vice President, Carlson Vacation Ownership, Inc. In this position, DeNicola will direct the team dedicated to Carlson Hospitality Worldwide's expansion into the vacation ownership business and form partnerships to develop, market, manage and sell vacation ownership resort properties in targeted destinations with Carlson Hospitality Worldwide's brands.

DeNicola has 20 years of experience in the hospitality industry in operations, financing and asset management. He most recently served as Carlson Hospitality Worldwide's vice president of planning, mergers and acquisitions. In that role, he was instrumental in expanding the company's portfolio into the five-star category with the acquisition of Regent International Hotels. He also assisted Radisson Seven Seas Cruises in acquiring the Song of Flower ship and venturing the development of the new 490-passenger Seven Seas Navigator luxury cruise ship, to debut in August 1999. DeNicola also helped Carlson Companies, Inc. acquire a minority interest in Interval International, the "quality vacation ownership exchange company," marking Carlson's first entry into the vacation ownership industry. He has also served in top management positions with Radisson Hotels Worldwide; and with Kenneth Leventhal and Company, VMS Realty Partners in Chicago, Ill. and Prudential Property Company.

Amy Isom, a six-year veteran of Carlson Companies, Inc., has been appointed Vice President of Development and Operations for Carlson Vacation Ownership, Inc. In this new position, Isom will focus on signing master development agreements and finding opportunities for Carlson Hospitality Worldwide to develop and license Vacation Ownership properties worldwide. Isom will also ensure that all vacation ownership resorts are operated to the brands' highest standards.

Isom has 12 years of experience in the hospitality industry in marketing, strategic planning, finance and development. She most recently served as director of planning, mergers and acquisitions for Carlson Hospitality Worldwide. She played a key role in Carlson Companies, Inc. agreement with Interval International, involved in presentations, management planning meetings and provided her specialized expertise to help structure the terms of the agreement. Prior to joining Carlson, she held various management positions with Marriott Corporation, including key roles in Marriott's vacation ownership division. She has also worked as an investment analyst with Metric Partners in Foster City, Calif.; in strategic planning with Hilton International Hotels in Rome, Italy; and Dubai, United Arab Emirates; and in marketing with Four Seasons Hotels, Inc. in Toronto, Ontario, Canada.

Christopher Smith has been appointed Director of Operations, Carlson Vacation Ownership, Inc. Smith joins Carlson Hospitality with 10 years of experience with the Mariner Group, one of the pioneers of luxury vacation ownership in Southwest Florida. He also served for five years in luxury resort operations with Hilton Grand Vacations Co., a resort development, vacation ownership and resort management company based in Orlando, Fla. He has served as a general manager of the company's Florida resorts on Sanibel Island and Marco Island.

He has extensive experience in resort financial management, rental program and sales management, resort refurbishment and managed owner/guest satisfaction and quality assurance. In this new position, he is responsible for creating and maintaining operations and service standards. He will work closely with vacation ownership developers to ensure that the vacation ownership resorts meet the quality standards of the Carlson Hotels Worldwide brands. He will also focus on operations quality to ensure the owner/guest experience is of the highest level.

"Our sister-division, the Carlson Leisure Group, is one of the most respected leisure travel agency networks in the world with more than 1,100 locations and related businesses including a charter airline, tour operations and travel services," added Nelson. "We intend to leverage our leisure industry expertise to support this new area of business for our enterprise," he said.

"We intend to partner with the country's leading vacation ownership developers in the mid-tier, upscale and luxury categories," said Danziger. "We are interested in providing unique vacation opportunities of superior quality and service in the most sought-after destinations," he added.

"We are the first global hospitality company to offer multi-brand, multi-tier franchising in the vacation ownership industry," said DeNicola. "Our entry into vacation ownership provides a unique opportunity for independent developers to access the marketing power of our brands and their partners. With 90 percent of the all vacation ownership developers currently independent," said DeNicola, "there is significant interest in partnering with a major hotel brand, backed by a global hospitality company, to gain a competitive edge in the face of rising marketing costs and consumer preference for branded vacation ownership resorts."

"Carlson Hospitality Worldwide offers access to industry-leading business delivery systems and leading lodging brands in the luxury, upscale and limited service segments plus consumer awareness and trust," said Danziger.

Exchange Company Ownership Interest

This past fall, Carlson Companies, Inc., Carlson Hospitality Worldwide's parent company, acquired a minority ownership interest in Interval International (Interval). Interval is a leading vacation-ownership exchange company, which enables vacation owners to exchange their home resort week for a stay at another affiliated vacation ownership resort. Carlson's resort members will be able to utilize Interval's vast, top-quality vacation exchange network of over 1,700 high quality, leading brand affiliated and independent major destination resorts in more than 65 countries. Interval has played a leading role in the overall growth and success of the vacation ownership industry.

Carlson Vacation Ownership, Inc. will grow with the acquisition or development of vacation ownership resorts; with units constructed adjacent to existing or acquired Carlson Hospitality branded properties; or through the conversion of existing hotels, such as all-suite hotels, that present the opportunity to be converted into a vacation ownership property.

The American Resort Development Association (ARDA) reports that with close to 5,000 resorts worldwide and global sales estimated at nearly $6 billion, vacation ownership is now one of the fastest growing segments in the travel and tourism industry.

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Contact:
Amy Isom, 
Carlson Vacation Ownership, Inc. 
at 612/449-2052
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Also See: Timeshare's Seduction - Vacation Ownership has Shed its Poor Image / Mike Malley / H&MM / July 1998
Vacation Ownership - Reengineering the Financial Platform / KPMG / 1998 

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