Cendant Consolidates Timeshare Resort Property Management Functions - RCI Management to be Merged with Fairfield Resort Management Unit -

Apr 04, 2001, 01:00 ET from Cendant Corporation

    PARSIPPANY, N.J., April 4 /PRNewswire/ -- 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 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. The
 Company's core competencies include building franchise systems and providing
 outsourcing services. Cendant is among the world's leading franchisers of real
 estate brokerage offices, hotels, rental car agencies, and tax preparation
 services. Cendant is also a provider of outsourcing solutions to its business
 partners including mortgage origination, employee relocation, customer loyalty
 programs, vacation exchange services and vacation interval sales.  Other
 businesses include the UK's largest private car park operator and electronic
 reservations processing for the travel industry. With headquarters in New York
 City, the Company has approximately 60,000 employees and operates in over
 100 countries.
     More information about Cendant, its companies, brands and current SEC
 filings may be obtained by calling 877-4INFO-CD (877-446-3623) or by visiting
 the Company's Web site at http://www.Cendant.com.
 
 

SOURCE Cendant Corporation
    PARSIPPANY, N.J., April 4 /PRNewswire/ -- 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 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. The
 Company's core competencies include building franchise systems and providing
 outsourcing services. Cendant is among the world's leading franchisers of real
 estate brokerage offices, hotels, rental car agencies, and tax preparation
 services. Cendant is also a provider of outsourcing solutions to its business
 partners including mortgage origination, employee relocation, customer loyalty
 programs, vacation exchange services and vacation interval sales.  Other
 businesses include the UK's largest private car park operator and electronic
 reservations processing for the travel industry. With headquarters in New York
 City, the Company has approximately 60,000 employees and operates in over
 100 countries.
     More information about Cendant, its companies, brands and current SEC
 filings may be obtained by calling 877-4INFO-CD (877-446-3623) or by visiting
 the Company's Web site at http://www.Cendant.com.
 
 SOURCE  Cendant Corporation