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July 1, 1999: Wyndham and Patriot Shareholders Approve $1 Billion Equity Investment From Investor Group July 9, 1999: Marriott International Posts 14% Increase In 1999 Second Quarter Earnings per Share Royal Host to Increase Offer for CHIP REIT; Offer Extended to July 19, 1999 IFG Focuses On Mortgage Broking July 13, 1999: Grand Adventures Tour & Travel Reports Record Second Quarter Revenues and Earnings Red Roof Inns, Inc. to be Acquired by Accor S.A. Buckhead America to Acquire Management Contracts Covering 12 Hotels In Missouri and Kansas Royal Host Real Estate Investment Trust Announces Distribution to Unitholders July 15, 1999: Royal Host Mails Increased Offer for CHIP REIT and Announces Debt Refinancing Midwest Express Holdings Reports Strong Performance for Traffic and Capacity Orlando-based Golf Communities Files To Reorganize Accor Buys Red Roof Inns For dlrs 1.1 Billion, Including Debt Tri-National Announces Closing July 19, 1999: Hollywood Casino Shreveport Announces Proposed Offering of First Mortgage Notes With Contingent Interest Starwood Financial Returning To Indices Wellsford Real Properties, Inc. Provides Land for $80 Million Project Near Denver Financing Committed For Caesars Deal July 21, 1999: Park Place Entertainment Reports $0.15 for the Second Quarter 1999 Airtran Holdings, Inc. Reports Second Quarter Profit Buckhead America Board Authorizes Share Repurchase Program Gas Price Jumps 3.2 Cents to Highest Level in 20 Months, AAA Fuel Gauge Report Shows Delta Reports Record Fiscal 1999 Net Income of $1.1 Billion and Record June Quarter Net Income Of $364 Million July 23, 1999: Silverleaf Stake of 5.2% Taken by Manager Nixon Las Vegas Hilton Hits PPE Earnings Southwest Airlines Posts Record Profit, but Stock Falls Delta Board of Directors Declares Cash Dividend TWA Blames Strike Threat For $6.21 Million Loss Update Concerning Lead Plaintiff Motion in Class Action Against Patriot American Hospitality, Inc. Hollywood Park to Apply for Last Remaining Louisiana Gaming License July 27, 1999: Fairfield Communities Reports Record Revenue Silverleaf Announces 31 Percent Revenue Growth in Second Quarter Hudson Hotels Restructures Debt Atlas Air Reports Record Second Quarter Operating and Net Income Crescent Real Estate Announces Sale of Non-Strategic Assets for $89 Million July 29, 1999: Bluegreen Announces Record First Quarter Results Grupo Sidek Announces Results for the First Six Months of 1999 Crescent Operating, Inc. Announces Sale of Dallas Arena Assets Bass Hotels & Resorts' Priority Club(R) Worldwide Offers Credit Card

July 2, 1999: Lend Lease Real Estate Investments and Vestar-Athens To DevelopThe Ritz-Carlton, Half Moon Bay Resort July 6, 1999: Mego Financial Corp. Reports Profit for Third Quarter of Fiscal 1999 Carnival Corporation Reports Record Second Quarter Earnings July 12, 1999: The Wall Street Transcript Publishes Lodging Industry Issue Aztar Shares Rise Due To Buy-Out Speculation July 14, 1999: SmallStockForum.com Announces Addition Of Exclusive Cruises & Resorts, Inc. Cayman Islands Resists Pressure To Change Banking Confidentiality Laws Host Marriott Corporation Completes $650 Million Secured Financing Candlewood Suites Continues Expanded Franchising Strategy With Addition of Six New Franchise Development Directors July 16, 1999: American Express, Citigroup and Starwood Hotels and Resorts Make Investment in Internet Loyalty Company ClubCorp Resorts Divests Its Canadian Resort Churchill Downs Announces Offering Of 2 Million Shares of Common Stock Ogden Acquires Transair -- Largest FBO in Europe July 20, 1999: CHIP REIT Trustees Recommend Rejection Of Revised Royal Host Offer Alaska Air Group Reports Record Second Quarter Earnings American Skiing Company to Merge Subsidiaries July 22, 1999: Royal Host Offer Superior To Belkorp Partial Bid For CHIP National Golf Properties Reports FFO per Share of 61 Cents in 2Q99 Hilton Reports 14% Increase in 2Q99 EBITDA Gas Prices Soar 13 Cents in Northern California, says AAA Ski Resorts Get $150M Boost Cendant Reports 1999 Second Quarter Results July 26, 1999: The Marcus Corporation Reports Fourth Quarter and Fiscal Year Results Vistana, Inc. Completes $80.3 Million Securitization Miami Firm, Owner Accused By SEC of Sending Fake Fax United Park City Mines Company Signs Letter of Intent With Joint Venture Partner for Major Resort Project in Park City July 28, 1999: Promus Reports 2Q EPS of $0.58 Before Unusual Items MeriStar Hotels Resorts Signs Contracts To Manage Two Florida Resort Properties July 30, 1999: Mego Financial Corp. Announces One for Six Reverse Stock Split New Hotels Help Boost Hilton Quarterly Profits National Golf Properties Declares Quarterly Dividend Hollywood Casino Corporation Lists on Amex Bombardier Aerospace Sells Three CRJ700 and Two More CRJ200 Series To Maersk Air Targeted Marketing Programs, Strategic Growth are Keys to Brand Promus Quarterly Earnings Drop, Stay In Line With May Forecast Cendant's Real Estate Division Posts Strong Growth in Second Quarter Franchise Sales Hawaii Cruise Line Parent’s Net Up 43.8%

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