St. Charles Hotel, L.L.C. has acquired 3.4 acres of land at James Business Park near New Orleans International Airport, for construction of the 130-room, three-story Ramada Inn and Suites prototype.  �We believe the site is a prime location for serving the strong mix of corporate, leisure and airport business within the busy airport market,� said Edward A. Dufresne Jr., Chairman of St. Charles Hotel. �Our decision to build our second Ramada property in the county was based on our confidence in the continued growth of the local economy.� 

Dufresne said the 130-room hotel will be owned and operated by St. Charles Hotel. Construction is expected to begin Summer 2000 with the opening date projected for the Summer of 2001. When open, the hotel is expected to employ about 50 people. 

Preliminary plans call for the property to include a deli-style restaurant and a lobby bar.  �Our new construction Ramada Inn prototype combines Old World hospitality with New World technology for tomorrow�s traveler,� said Steven Belmonte, Ramada Franchise Systems President and CEO. �By providing guests with valuable amenities and a comfortable environment, the new prototype goes hand-in-hand with the service culture we�ve established throughout the Ramada system.�

With an average of 120 rooms, Ramada Franchise Systems� new construction prototype features a revolutionary welcome center, complete with electronic check-in/check-out kiosk, a warm fireplace section, cordless phones and various other amenities. New construction properties in downtown, gateway city locations and in key secondary markets and airport locations may be eligible for a Development Advance, which is part of a $30 million initiative designed to enhance the chain�s position in the upper mid-market segment. In addition two exciting food and beverage options; Bennigan�s Irish American Grill Tavern ® or MacGregor�s Market� may be available to qualified operations through new strategic alliances launched by Ramada Franchise Systems, Inc.

Ramada Franchise Systems, Inc., a subsidiary of Cendant Corporation (NYSE: CD), is a mid- to upper-mid-market chain of over 1,000 Ramada Limited, Inn and Plaza Hotel properties throughout the United States.