Cendant To Merge RCI Management with Fairfield Resort Management; Mark Nuzzo, Former President of Fairfield Resort Management Services Will Head / April 2001

Hotel Online Special Report

Cendant To Merge RCI Management with
Fairfield Resort Management;
Mark Nuzzo, Former President of Fairfield Resort
Management Services Will Head

PARSIPPANY, N.J., April 4, 2001 - Cendant Corporation (NYSE: CD) today announced that RCI Management (RCIM), the resort property management unit of Cendant subsidiary Resort Condominiums International, LLC (RCI) will be consolidated with the property management operations of Fairfield Communities, Inc., following the completion of Cendant�s acquisition of Fairfield earlier this week.

RCIM manages 19 resorts consisting of 23 resort associations and 15 service affiliations in the U.S., Mexico and Australia. Fairfield manages 34 resorts consisting of more than 110 timeshare and whole ownership resort associations in the U.S. and the Bahamas. The new combined property management organization, RCI Resort Management, will be placed under the direction of Senior Vice President Mark Nuzzo, formerly senior vice president of Fairfield Communities and president of Fairfield Resort Management Services.

In conjunction with this consolidation, RCI announced that John Small, senior vice president and chief operating officer of RCI Management, has been named managing director, RCI New Markets, and will manage RCI�s growing service offerings to the premium segment of the vacation ownership industry, primarily focusing on high-end fractional resort products on an international basis.

Fairfield Communities, with more than 324,000 vacation-owning households, is one of the largest vacation ownership companies in the United States, marketing and managing resort properties at 34 locations in 12 states and the Bahamas. Fairfield operates over 32 dedicated sales centers and manages over 110 timeshare and whole ownership resort associations. Fairfield is a subsidiary of Cendant Corporation.

RCI (RCI.com) is the world�s leading global provider of products and services to the timeshare industry, with more than 3,700 affiliated resorts in 100 countries. In pursuit of its mission to be the market

Fairfield Communities, Inc., today announced that Fairfield will affiliate its FairShare Plus exchange program to RCI Points

PARSIPPANY, N.J., April 5, 2001 - The RCI Points enhancement to FairShare Plus will take effect in the second quarter of 2001, and will become the standard exchange program for all new FairShare Plus members at RCI-affiliated resorts.

�The decision by Fairfield to join RCI Points further demonstrates the momentum which this exciting new product is gathering within the vacation ownership industry,� said Ken May, president and CEO, RCI. �Their prestigious resorts will be immediately popular with our RCI Points members, and we are confident that members of FairShare Plus will be delighted with the flexibility and options available through RCI Points.�

�Fairfield has been the leader in points-based exchange, and we have been looking forward to joining RCI Points for some time now,� said Franz Hanning, president and CEO, Fairfield Communities. �We have always been a believer in the potential of points and are pleased to be able to expand our points offering to a global range of resorts and travel products through RCI.�

Fairfield has been affiliated with RCI for more than 25 years. Of Fairfield�s 30 resorts affiliated to RCI, 23 have achieved RCI Gold Crown status signifying the highest quality based on visitor comment cards, resort amenities and other criteria, and four have achieved RCI Resort of International Distinction status, ranking them among the world�s finest resorts.

maker in global travel and leisure, RCI offers the world�s leading timeshare exchange services through RCI Points, the first worldwide points-based exchange system, and RCI Weeks, RCI�s traditional week-for-week exchange system. In 2000, more than 2 million exchanges were booked through RCI, sending an estimated 7.5 million people on vacation. RCI provides integrated timeshare solutions in addition to exchange including consulting, travel agency, technological support and lead-generation strategies along with club development and operations. RCI is a subsidiary of Cendant Corporation.

Cendant Corporation is a diversified global provider of business and consumer services primarily within the real estate and travel sectors.

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Contact:
Cendant Corporation
http://www.Cendant.com

Also See

Cendant to Acquire Fairfield With Cash; Transaction Valued at Approximately $690 Million / Mar 2001

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