Press Release
April 5, 2001
PARSIPPANY, NJ -- Cendant Corporation yesterday 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 www.Cendant.com.
SOURCE: Cendant Corporation