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Press Release: Fairfield Resorts
April 23, 2004
ORLANDO, FL -- Fairfield Resorts, Inc., the largest vacation ownership company in the world with more than 450,000
owner families, today announced the opening of its new onsite sales and preview center at Fairfield Orlando at
Bonnet Creek Resort - a 744-unit timeshare development adjacent to Walt Disney World Resort.
Pre-construction sales for the new resort began last summer. To date, nearly 2,000 families have purchased timeshare
at Fairfield's Bonnet Creek Resort. The opening of an onsite sales center is expected to further accelerate Fairfield's
sales and marketing activity throughout the Orlando region. At completion, it is anticipated that Fairfield Orlando
at Bonnet Creek will draw more than 30,000 vacationing families to Orlando each year.
"Bonnet Creek is an unparalleled setting for our flagship Orlando resort," said Franz Hanning, president
and CEO, Fairfield Resorts. "Our owners have come to expect the very best from Fairfield, and we're tremendously
pleased to provide world-class accommodations on the doorstep of the world's most famous theme park attraction."
Construction of the project's first phase began in January 2003 and the resort's first guests are expected to arrive
later this summer. Fairfield's plans for Bonnet Creek include five Mediterranean-styled towers ranging from seven
to thirteen stories in height. The resort's extensive planned list of recreational amenities includes six heated
pools with interactive water features, four spas, paddleboats, miniature golf, sand volleyball courts, tennis facilities,
children's playground, fitness center, game arcade and a computer library.
Fairfield has exclusive rights to market and sell timeshare interests at the 480-acre master-planned Bonnet Creek
Resort, and retains a future purchase option for a second 12-acre parcel that can accommodate an additional 350
units. In addition to Fairfield's presence, current plans for Bonnet Creek include up to four upscale luxury hotels
and a championship 170-acre, 18-hole golf course designed by Rees Jones.
About Fairfield Resorts
Fairfield Resorts, Inc., with more than 450,000 member families, is the largest vacation ownership company in the
world. Established in 1966, Fairfield Resorts specializes in the development, marketing and sales of innovative
travel and leisure products, including vacation ownership intervals at the company's 70 nationwide resorts. Fairfield
Resorts was one of the first U.S. developers to move from traditional fixed-week timeshare ownership to a points-based
exchange program with the launch of FairShare Plus in 1991. Fairfield Resorts, headquartered in Orlando, is a
subsidiary of Cendant Corporation (NYSE: CD), a diversified global provider of business and consumer services primarily
within real estate and travel. Other Cendant brands include Cheap Tickets, AVIS, Days Inn, Ramada, Century 21,
Coldwell Banker and RCI. http://www.fairfieldresorts.com
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Contact: Adam Schwartz (407) 248-4128 adam.schwartz@fairfieldresorts.com