DALLAS (Feb. 6, 2003) -Wyndham International, Inc. (AMEX:WBR) today reported results for the fourth quarter and full year ending Dec. 31, 2002.

Business Performance

On a comparable pro forma basis, which reflects adjustments for acquisitions and dispositions, earnings before interest, taxes, depreciation and amortization (EBITDA), as adjusted, was $55.7 million for the fourth quarter versus $54.4 million for the same period in 2001.  For the full year of 2002, pro forma EBITDA, as adjusted, was $301.3 million, versus $398.5 million in 2001.   The pro forma results have been adjusted to remove the operating results of all assets sold during 2002, as if sold on Jan. 1, 2001.
Wyndham reported a net loss of $37 million and a pro forma net loss of $43.1 million for the fourth quarter, versus a $57.1 million net loss and a $61.7 million pro forma net loss for the same period in 2001.  After the effect of the Company�s preferred dividend, this resulted in a net loss of $0.44 per share and a pro forma net loss per share of $0.48 for the quarter.  For the full year 2002, the net loss was $500 million and the pro forma net loss was $513.8 million, versus a $139 million net loss and a $492.9 million pro forma net loss for the prior year.  Significant components of the difference between the pro forma net loss of $513.8 million and the pro forma EBITDA, as adjusted, of $301.3 million include $324.1 million of goodwill write-off, $267.1 million of depreciation and amortization, $227.8 million of interest expense, and $84.8 million of derivative losses offset by a $122.4 million tax benefit.  (See attached schedule for complete reconciliation between net loss and EBITDA.)

Revenue per available room (RevPAR) continued to improve each quarter of the year.  RevPAR for the Company�s comparable owned and leased hotels improved from a decline of 23.1 percent in the fourth quarter 2001 to an increase of 7.6 percent in the fourth quarter of 2002, which exceeded the Company�s guidance of 5.0 to 7.0 percent.  The increase for the fourth quarter was comprised of a 7.1 percentage point increase in occupancy and a 4.2 percent reduction in average daily rate (ADR) for a RevPAR of $67.82.

�Given the challenging climate for the lodging industry, we made a strategic decision to grow our market share through a focus on occupancy.  Our strategy paid off as RevPAR improved steadily throughout the year,� said Wyndham International Chairman and Chief Executive Officer Fred J. Kleisner. 

Branded Performance

For the fourth quarter 2002, comparable owned and operated Wyndham hotels and resorts had a RevPAR of $75.75, a 14.2 percent increase from the fourth quarter of 2001.  For the year, these hotels and resorts experienced a RevPAR decline of only 2.4 percent, derived from a 3.1 percentage point increase in occupancy and a 6.7 percent decline in ADR.  RevPAR on all comparable Wyndham owned and leased properties declined 6.8 percent during the year, which was comprised of a 1.1 percentage point increase in occupancy and an 8.3 percent decline in rate compared to 2001.  Wyndham-branded owned and leased properties increased their RevPAR penetration index within its competitive set each month of the fourth quarter versus the prior year:

October +150 bps
November +230 bps
December  +620 bps

Further, these properties ended the year with a RevPAR index of over 100 percent.
Mr. Kleisner stated: �The marked improvement of our branded properties compared to our total owned and leased portfolio underscores our core strategy to focus on proprietary-branded operations and, specifically, reflects the strength of Wyndham ByRequest®, our guest loyalty program.  Wyndham ByRequest is a unique program that has helped us grow market share by treating our guests as individuals.  The market response has been outstanding; we have tripled membership since June 2002 with almost 1.2 million members.�

The operating margins for Wyndham-branded properties remained strong despite occupancy gains from guests paying lower rates, creating margin compression.  For the fourth quarter, hotel gross operating profit margins at Wyndham-branded owned and operated hotels and resorts maintained the same margins as in the prior year even with significant cost increases in property and casualty insurance.  These fixed cost increases were offset by variable cost reductions reflecting the effectiveness of proactive business planning.

Financial Highlights

Cash and equivalents were $181.1 million as of Dec. 31, 2002, inclusive of $143.8 million of restricted cash.  Cash and equivalents increased by $15.7 million from the $165.4 million on hand at the end of the third quarter 2002.

During the fourth quarter, debt decreased by $460 million due primarily to the application of net asset sale proceeds.  As of Dec. 31, 2002, the Company�s total debt was $2.827 billion.  The breakdown of the debt at year-end was as follows: Revolver $156.4 million; IRLs $447.7 million; Term Loans $1.183 billion; and Mortgage and other indebtedness $1.039 billion. At the end of the fourth quarter, liquidity was approximately $256 million.  The Company defines liquidity as revolver availability, plus cash available at the corporate level. 

Said Mr. Kleisner: �Since the beginning of 2000, we have maintained a strong liquidity position, notwithstanding the sluggish economy that began in 2001 and continues into 2003.  We will continue to manage cash very tightly and make prudent spending decisions in light of the current economic conditions.� 

Wyndham began 2002 with approximately $280 million of mortgage loans coming due in the year.  Through extensions and refinancings, the Company eliminated its 2002 maturities.  In addition, it is currently in the process of receiving bids to refinance its 2003 and 2004 mortgage pool maturities and to push the maturity dates by at least five years. 

Additionally, during the quarter, the Company spent approximately $23 million on capital expenditures.  For the full year of 2003, Wyndham expects to commit approximately $83 million in maintenance capital expenditures. 

Strategic Plan

In 2002, the Company sold 20 hotel properties and its investment in Shula�s Steakhouse for gross proceeds of approximately $590 million, including the sale of 14 non-strategic assets to Westbrook Hotel Partners for gross proceeds of approximately $517 million. 

In total, since 1999, the Company has sold 102 assets for approximately $1.5 billion.  Wyndham has 34 non-strategic assets remaining to be sold.  The Company expects to generate gross proceeds in the range of $750 million to $900 million from the sale of these remaining non-strategic assets.  The net proceeds will be used to reduce debt. 

Wyndham has and will continue to focus its business development in the acquisition of management and franchise contracts with little to no capital investment as well as the conversion of non-proprietary-branded hotels to the Wyndham flag. 

During 2002, Wyndham signed seven new franchise agreements.  The largest franchise agreement was the 850-room Wyndham Nassau located in the Bahamas.  The property was converted from Marriott on Nov. 1, 2002.  On Dec. 1, 2002, the Company converted the Hilton Little Rock to a Wyndham Hotel.  In addition, during the year, the Company has, or is in the process of, converting three other owned, non-proprietary hotels to the Wyndham brand: the Condado Plaza in Puerto Rico, the Hilton Ft. Lauderdale in Florida and the Hilton Columbus in Georgia.

2003 Guidance 

For the first quarter of 2003, RevPAR is forecasted to be negative 1 to 2 percent as compared to the first quarter of 2002, and EBITDA, as adjusted, is forecasted to be between $82 and $87 million.  For the full year of 2003, the Company is estimating RevPAR to be flat to slightly positive, and full year EBITDA, as adjusted, is expected to be essentially flat as compared to 2002, in the range of $300-$305 million.

Said Mr. Kleisner: �Our 2003 projections assume that there is no measurable recovery in the economy until the end of 2003, there are no major terrorist attacks against the US, and we have not built in any impact of a potential war with Iraq.  When Sept. 11 happened, it took us 14 days to implement a plan; in the event of war in Iraq, we will be ready to implement our plan within 24 hours.�

Mr. Kleisner continued: �Wyndham will remain nimble to react to changes in our industry and make the necessary adjustments to our business operating plan to maintain a financially sound company.� 

The Company has also taken additional expense reductions to offset the increases in fixed expenses such as property, health and directors and officers insurance.  These additional measures include the reduction in the workforce and a wage freeze for all non-hourly employees in both the field and the corporate office.  The Company expects these actions will help keep 2003 operating margins slightly above 2002 levels.

                                               Twelve Months Ended 
                      Fourth Quarter             December 31, 2002 
                --------------------------- --------------------------- 
                 2002     2001    % Change   2002     2001    % Change 
                -------- -------- --------- -------- -------- --------- 
 COMPARABLE WYNDHAM BRANDED OWNED AND OPERATED HOTELS (a) 
 Wyndham Branded Owned and Operated 
 ---------------------------------- 
   Average 
    daily rate  $110.50  $114.54      -3.5% $114.96  $125.16      -8.1% 
   Occupancy       66.4%    57.5%  8.9 ppt     69.3%    66.6%  2.7 ppt 
   RevPAR        $73.39   $65.86      11.4%  $79.66   $83.30      -4.4% 
 Wyndham Hotels & Resorts 
 ------------------------ 
   Average 
    daily rate  $114.90  $117.09      -1.9% $119.12  $127.68      -6.7% 
   Occupancy       65.9%    56.6%  9.3 ppt     69.1%    66.0%  3.1 ppt 
   RevPAR        $75.75   $66.31      14.2%  $82.30   $84.31      -2.4% 
 Wyndham Luxury Resorts (b) 
 -------------------------- 
   Average 
    daily rate  $222.45  $226.24      -1.7% $225.40  $247.11      -8.8% 
   Occupancy       58.3%    54.5%  3.8 ppt     56.5%    55.5%  1.0 ppt 
   RevPAR       $129.71  $123.30       5.2% $127.44  $137.28      -7.2% 
 Summerfield by Wyndham 
 ---------------------- 
   Average 
    daily rate   $93.85  $105.81     -11.3% $100.82  $119.05     -15.3% 
   Occupancy       77.2%    69.3%  7.9 ppt     79.7%    77.3%  2.4 ppt 
   RevPAR        $72.48   $73.34      -1.2%  $80.32   $91.93     -12.6% 
 Wyndham Garden 
 -------------- 
   Average 
    daily rate   $75.40   $83.10      -9.3%  $79.30   $90.79     -12.7% 
   Occupancy       59.2%    51.3%  7.9 ppt     61.2%    60.4%  0.8 ppt 
   RevPAR        $44.67   $42.68       4.7%  $48.54   $54.82     -11.5% 

 COMPARABLE OWNED & LEASED HOTELS 
 Proprietary Branded (c) 
 ----------------------- 
   Average 
    daily rate  $110.17  $114.83      -4.1% $114.54  $126.17      -9.2% 
   Occupancy       67.7%    59.1%  8.6 ppt     70.5%    67.9%  2.6 ppt 
   RevPAR        $74.54   $67.76      10.0%  $80.76   $85.65      -5.7% 

 Non-Proprietary Branded (d) 
 --------------------------- 
   Average 
    daily rate   $89.69   $95.19      -5.8%  $92.76   $99.31      -6.6% 
   Occupancy       57.7%    54.2%  3.5 ppt     60.3%    62.9% -2.6 ppt 
   RevPAR        $51.74   $51.62       0.2%  $55.92   $62.41     -10.4% 

 Total Portfolio 
 --------------- 
   Average 
    daily rate  $104.80  $109.41      -4.2% $108.88  $118.78      -8.3% 
   Occupancy       64.7%    57.6%  7.1 ppt     67.5%    66.4%  1.1 ppt 
   RevPAR        $67.82   $63.02       7.6%  $73.53   $78.89      -6.8% 

 NOTE: All hotel statistics exclude assets sold to date. 

     (a) Brand statistics are based on comparable owned and operated 
         hotels for respective periods. 
     (b) Reflects results of the Boulders, Carmel Valley Ranch, the 
         Lodge at Ventana Canyon, and Isla Navidad. 
     (c) Reflects Wyndham Hotels & Resorts, Wyndham Luxury Resorts, 
         Summerfield Suites by Wyndham and Wyndham Garden Hotels that 
         were branded as of January 1, 2001. 
     (d) Non-proprietary brand hotels owned by the Company as of 
         January 1, 2001. 
 
 

                                      Quarter Ended December 31, 
                            ------------------------------------------- 
                               2002        2001       2002      2001 
                             Comparable  Comparable 
                             Pro Forma   Pro Forma    Actual    Actual 
                                 (1)         (1) 
                            ----------- ----------- --------- --------- 
  Revenues: 
   Hotel revenues             $404,487    $377,060  $415,388  $390,765 
   Management fees and 
    service fee income           4,162       3,847     4,235     4,680 
   Interest and other income     1,529       2,129     1,534     2,295 
                            ----------- ----------- --------- --------- 
      Total revenues           410,178     383,036   421,157   397,740 
                            ----------- ----------- --------- --------- 

  Expenses: 
   Hotel expenses              345,284     312,198   351,442   318,185 
   General and 
    administrative costs        10,767      16,558    10,766    17,483 
   Interest expense             53,583      64,767    53,631    65,327 
                            ----------- ----------- --------- --------- 
      Total operating costs 
       and expenses            409,634     393,523   415,839   400,995 
                            ----------- ----------- --------- --------- 

  Revenues net of direct 
   expenses                        544     (10,487)    5,318    (3,255) 

   Adjustments (2): 
   Professional fees and 
    other                        4,179       2,803     4,179     2,891 
   Bond offering costs            (754)         --      (754)       -- 
   Abandoned transaction 
    costs                          669       2,414       669     2,414 
   Pre-opening and 
    conversion costs                53       3,481        55     3,482 
   Loss on derivative 
    instruments                 15,474      18,004    15,474    18,004 
   Impairment of assets held 
    for sale                        --      24,159        --    24,159 
   Gain on sale of assets      (11,599)     (3,436)  (14,209)   (3,436) 
   Write-off of management, 
    leasehold costs and 
    license agreements           4,229       4,204     4,229     3,287 
                            ----------- ----------- --------- --------- 
      Total adjustments         12,251      51,629     9,643    50,801 
                            ----------- ----------- --------- --------- 

  Depreciation and 
   amortization                 69,417      69,732    66,179    73,489 
  Equity in earnings from 
   unconsolidated 
   subsidiaries                    (72)       (220)      (71)     (369) 
  Minority interest in 
   consolidated subsidiaries        59       1,145        58     1,145 
                            ----------- ----------- --------- --------- 
                                69,404      70,657    66,166    74,265 
                            ----------- ----------- --------- --------- 

 Loss from continued 
  operations before taxes      (81,111)   (132,773)  (70,491) (128,321) 
  Benefit for income taxes      38,018      71,034    33,812    67,872 
                            ----------- ----------- --------- --------- 
   Loss from continued 
    operations                 (43,093)    (61,739)  (36,679)  (60,449) 
                            ----------- ----------- --------- --------- 
 

 Income from discontinued 
  operations, net of taxes 
  and minority interest             --          --     1,355     3,366 
 Loss from discontinued 
  operations, net of taxes 
  and minority interest             --          --    (1,652)       -- 
                            ----------- ----------- --------- --------- 
 Income (loss) from 
  discontinued operations, 
  net of taxes and 
  minority interest                 --           --     (297)    3,366 
                            ----------- ----------- --------- --------- 

  Net loss                    $(43,093)   $(61,739) $(36,976) $(57,083) 
                            =========== =========== ========= ========= 

  EBITDA, as adjusted          $55,675     $54,449   $69,054   $75,222 
                            =========== =========== ========= ========= 
 

     (1) The Comparable Pro Forma financial statements have been 
         adjusted to remove the operations of hotels sold and related 
         interest expense from corresponding retired debt and 
         management contract revenue from terminated management 
         contracts. 

     (2) Adjustments exclude unusual and infrequent expenses to provide 
         a comparable anaylsis of hotel operations. 
 

                       WYNDHAM INTERNATIONAL, INC. 
                          EBITDA Reconciliation 
                  (in thousands, except per share data) 
                               (Unaudited) 

                                    Quarter Ended December 31, 
                            ------------------------------------------- 
                               2002        2001       2002      2001 
                             Comparable  Comparable 
                             Pro Forma   Pro Forma    Actual    Actual 
                            ----------- ----------- --------- --------- 
 EBITDA Reconciliation 

  Net loss                    $(43,093)   $(61,739) $(36,976) $(57,083) 

   Interest expense             53,583      64,767    53,631    65,327 
   Depreciation and 
    amortization                69,417      69,732    66,179    73,489 
   Benefit for income taxes    (38,018)    (71,034)  (33,812)  (67,872) 
                            ----------- ----------- --------- --------- 
  EBITDA                        41,889       1,726    49,022    13,861 

   Interest, depreciation 
    and amortization from 
    equity interest in 
    unconsolidated 
    subsidiaries                 1,681       1,778     1,682     1,805 
   Interest, depreciation 
    and amortization 
    attributable to 
    minority interests            (861)       (421)   (1,479)   (1,173) 
   Professional fees and 
    other                        4,179       2,803     4,179     2,891 
  Bond offering costs             (754)         --      (754)       -- 
   Abandoned transaction 
    costs                          669       2,414       669     2,414 
   Pre-opening and 
    conversion costs                53       3,481        55     3,482 
   Amortization of unearned 
    compensation                   715         654       715       654 
   Loss on derivative 
    instruments                 15,474      18,004    15,474    18,004 
   Impairment of assets held 
    for sale                        --      24,159        --    24,159 
   Gain on sale of assets      (11,599)     (3,436)  (14,209)   (3,436) 
   Write-off of management, 
    leasehold costs and 
    license agreements           4,229       3,287     4,229     3,287 
   Discontinued operations 
    EBITDA                          --          --     9,471     9,274 
                            ----------- ----------- --------- --------- 

  EBITDA, as adjusted          $55,675     $54,449   $69,054   $75,222 
                            =========== =========== ========= ========= 
 

 Per Share Calculations: 

   Loss from continued 
    operations                $(43,093)   $(61,739) $(36,679) $(60,449) 
   Income (loss) from 
    discontinued operations, 
    net of taxes and 
    minority interest               --          --      (297)    3,366 
                            ----------- ----------- --------- --------- 
   Net loss                   $(43,093)   $(61,739) $(36,976) $(57,083) 
   Adjustment for preferred 
    stock                      (37,081)    (40,092)  (37,081)  (40,092) 
                            ----------- ----------- --------- --------- 
     Net loss attributable 
      to common shareholders  $(80,174)  $(101,831) $(74,057) $(97,175) 
                            =========== =========== ========= ========= 

   Basic and diluted loss per common share: 
    Loss from continued 
     operations                 $(0.48)     $(0.61)   $(0.44)   $(0.60) 
    Income from discontinued 
     operations, net of 
     taxes and minority 
     interest                       --          --        --      0.02 
                            ----------- ----------- --------- --------- 
     Net loss per 
      common share              $(0.48)     $(0.61)   $(0.44)   $(0.58) 
                            =========== =========== ========= ========= 

   Basic and diluted weighted 
    average common shares 
    and share equivalents      167,999     167,860   167,999   167,860 
 

                                Twelve Months Ended December 31, 
                        ----------------------------------------------- 
                           2002        2001        2002        2001 
                         Comparable  Comparable 
                         Pro Forma   Pro Forma     Actual      Actual 
                            (1)         (1) 
                        ----------- ----------- ----------- ----------- 
  Revenues: 
    Hotel revenues      $1,651,376  $1,741,454  $1,691,583  $1,848,950 
    Management fees and 
     service fee income     16,366      13,829      17,639      20,240 
    Interest and other 
     income                  6,668       9,369       6,922       9,902 
                        ----------- ----------- ----------- ----------- 
     Total revenues      1,674,410   1,764,652   1,716,144   1,879,092 
                        ----------- ----------- ----------- ----------- 

  Expenses: 
    Hotel expenses      $1,325,941  $1,310,814  $1,356,624  $1,397,107 
    General and 
     administrative 
     costs                  52,707      53,726      52,694      59,204 
    Interest expense       227,838     288,120     227,899     294,409 
                        ----------- ----------- ----------- ----------- 
     Total operating 
      costs and expenses 1,606,486   1,652,660   1,637,217   1,750,720 
                        ----------- ----------- ----------- ----------- 

  Revenues net of direct 
   expenses                 67,924     111,992      78,927     128,372 

   Adjustments(2): 
    Reductions in 
     reservation and 
     marketing funds            --       5,239          --       5,239 
    Professional fees 
     and other               7,530      14,257       7,530      14,482 
    Bond offering costs      3,750          --       3,750          -- 
    Abandoned 
     transaction costs       2,803       3,921       2,803       3,921 
    Pre-opening and 
     conversion costs        1,011      12,098       1,011      12,117 
    Interstate Spin-off 
     costs                      --          --          --           3 
    Loss on derivative 
     instruments            84,844      47,600      84,844      47,600 
    Impairment of assets 
     held for sale             162      24,159         162      24,159 
    Loss (gain) on sale 
     of assets               6,641      11,202     (10,701)     11,202 
    Write-off of 
     management, 
     leasehold costs and 
     license agreements      6,126      21,988       6,445      16,466 
                        ----------- ----------- ----------- ----------- 
     Total adjustments     112,867     140,464      95,844     135,189 
                        ----------- ----------- ----------- ----------- 

  Depreciation and 
   amortization            267,121     230,259     263,884     243,063 
  Equity in earnings 
   from unconsolidated 
   subsidiaries               (730)     (2,690)     (1,039)     (3,500) 
  Minority interest in 
   consolidated 
   subsidiaries                765       4,975         765       8,257 
                        ----------- ----------- ----------- ----------- 
                           267,156     232,544     263,610     247,820 
                        ----------- ----------- ----------- ----------- 

  Loss from continued 
   operations before 
   taxes                  (312,099)   (261,016)   (280,527)   (254,637) 
  Benefit for income 
   taxes                   122,367     115,653     110,678     107,993 
                        ----------- ----------- ----------- ----------- 
  Loss from continued 
   operations             (189,732)   (145,363)   (169,849)   (146,644) 
                        ----------- ----------- ----------- ----------- 

  Income from discontinued 
   operations, net of 
   taxes and minority 
   interest                     --          --       5,212      19,907 
  Gain from discontinued 
   operations, net of 
   taxes and minority 
   interest                     --          --     (10,977)         -- 
                        ----------- ----------- ----------- ----------- 
  Income (loss) from 
   discontinued 
   operations, net of 
   taxes and minority 
   interest                     --          --      (5,765)     19,907 
                        ----------- ----------- ----------- ----------- 

   Loss before 
    cumulative effect of 
    accounting change 
    and extraordinary 
    item, net of taxes    (189,732)   (145,363)   (175,614)   (126,737) 
    Accounting change, 
     net of applicable 
     taxes                (324,102)   (346,412)   (324,102)    (10,365) 
    Extraordinary item, 
     net of applicable 
     taxes                      --      (1,119)         --      (1,838) 
                        ----------- ----------- ----------- ----------- 

  Net loss               $(513,834)  $(492,894)  $(499,716)  $(138,940) 
                        =========== =========== =========== =========== 

  EBITDA, as adjusted     $301,258    $398,498    $356,403    $479,981 
                        =========== =========== =========== =========== 

     (1) The Comparable Pro Forma financial statements have been 
         adjusted to remove the operations of hotels sold and related 
         interest expense from corresponding retired debt and 
         management contract revenue from terminated management 
         contracts. 

     (2) Adjustments exclude unusual and infrequent expenses to provide 
         a comparable analysis of hotel operations. 

                       WYNDHAM INTERNATIONAL, INC. 
                          EBITDA Reconciliation 
                  (in thousands, except per share data) 
                               (Unaudited) 

                                      Twelve Months Ended 
                                          December 31, 
                        ----------------------------------------------- 
                           2002        2001        2002        2001 
                         Comparable  Comparable 
                         Pro Forma   Pro Forma     Actual      Actual 
                        ----------- ----------- ----------- ----------- 
 EBITDA Reconciliation 

  Net loss               $(513,834)  $(492,894)  $(499,716)  $(138,940) 

    Interest expense       227,838     288,120     227,899     294,409 
    Depreciation and 
     amortization          267,121     230,259     263,884     243,063 
    Benefit for income 
     taxes                (122,367)   (115,653)   (110,678)   (107,993) 
    Accounting change, 
     net of applicable 
     taxes                 324,102     346,412     324,102      10,365 
    Extraordinary item, 
     net of applicable 
     taxes                      --       1,119          --       1,838 
                        ----------- ----------- ----------- ----------- 
  EBITDA                   182,860     257,363     205,491     302,742 
   Interest, 
    depreciation and 
    amortization from 
    equity interest in 
    unconsolidated 
    subsidiaries             5,694       5,368       5,705       5,670 
   Interest, 
    depreciation and 
    amortization 
    attributable to 
    minority interests      (3,528)     (2,195)     (6,160)     (5,965) 
    Reductions in 
     reservation and 
     marketing funds            --       5,239          --       5,239 
    Professional fees 
     and other               7,530      14,257       7,530      14,482 
    Bond offering costs      3,750          --       3,750          -- 
    Abandoned 
     transaction costs       2,803       3,921       2,803       3,921 
    Pre-opening and 
     conversion costs        1,011      12,098       1,011      12,117 
    Interstate Spin-off 
     costs                      --          --          --           3 
    Amortization of 
     unearned 
     compensation            3,365       2,104       3,365       2,104 
    Loss on derivative 
     instruments            84,844      47,600      84,844      47,600 
    Impairment of assets 
     held for sale             162      24,159         162      24,159 
    Non-recurring fees 
     included in G&A            --         916          --         916 
    Loss (gain) on sale 
     of assets               6,641      11,202     (10,701)     11,202 
    Write-off of 
     management, 
     leasehold costs and 
     license agreements      6,126      16,466       6,445      16,466 
    Discontinued 
     operations EBITDA          --          --      52,158      39,325 
                        ----------- ----------- ----------- ----------- 
  EBITDA, as adjusted     $301,258    $398,498    $356,403    $479,981 
                        =========== =========== =========== =========== 

 Per Share Calculations: 

  Loss from continued 
   operations             (189,732)   (145,363)   (169,849)   (146,644) 
  Income (loss) from 
   discontinued 
   operations, net of 
   taxes and minority 
   interest                     --          --      (5,765)     19,907 
  Accounting change, 
   net of applicable 
   taxes                  (324,102)   (346,412)   (324,102)    (10,365) 
  Extraordinary item, 
   net of applicable 
   taxes                        --      (1,119)         --      (1,838) 
                        ----------- ----------- ----------- ----------- 
  Net loss               $(513,834)  $(492,894)  $(499,716)  $(138,940) 
  Adjustment for 
   preferred stock        (144,217)   (122,621)   (144,217)   (122,621) 
                        ----------- ----------- ----------- ----------- 
   Net loss 
    attributable to 
    common shareholders  $(658,051)  $(615,515)  $(643,933)  $(261,561) 
                        =========== =========== =========== =========== 

  Basic and diluted loss 
   per common share: 
   Loss from continued 
    operations              $(1.99)     $(1.60)     $(1.87)     $(1.61) 
   Income (loss) from 
    discontinued 
    operations, net of 
    taxes and minority 
    interest                    --           --      (0.03)       0.12 
   Income from discontinued 
    operations, net of 
    taxes and minority 
    interest                 (1.93)      (2.07)      (1.93)      (0.06) 
   Extraordinary item, 
    net of applicable 
    taxes                       --       (0.01)         --       (0.01) 
                        ----------- ----------- ----------- ----------- 
    Net loss per 
     common share           $(3.92)     $(3.68)     $(3.83)     $(1.56) 
                        =========== =========== =========== =========== 

  Basic and diluted 
   weighted average 
   common shares and 
   share equivalents       167,943     167,698     167,943     167,698 
 

Wyndham International, Inc. offers upscale and luxury hotel and resort accommodations through proprietary lodging brands and a management services division.  Based in Dallas, Wyndham owns, leases, manages and franchises hotels and resorts in the United States, Canada, Mexico, the Caribbean and Europe. 

This press release contains certain forward-looking statements within the meaning of Sections 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, including projections about future operating results.