ARDA APPOINTS NEW CHAIRMAN

Press Release: ARDA

April 14, 1999
In an announcement made during their 30th Anniversary celebration in Orlando, Florida, the American Resort Development Association today named Robert A. Miller, RRP, Chairman of its Board.

Mr. Miller is President of Marriott Leisure, a division of Marriott International, and has been actively involved in the timeshare industry for over 25 years. Mr. Miller becomes the first executive from a brand name hospitality company to chair the timeshare group. Mr. Miller's appointment is testament to the important role that timeshares are playing in the hospitality industry.

"The end of this century coincides with ARDA's 30th anniversary. And, we feel there is no one better prepared than Bob Miller to lead ARDA and the entire industry into the new Millennium,'' said Cynthia Huheey, President of ARDA. "We are entering into one of the most exciting and innovative times in the vacation industry and timeshares are primarily responsible for the excitement. With Chairman Miller leading the way, we believe our industry will continue its rise - rise in sales, rise in ownership and rise in public recognition as the most convenient vacation choice of the next century.''

Timeshares are the fastest growing segment of the travel and tourism industry. The United States continues to be the world leader in vacation ownership with over 2 million owners. In 1998 alone, more than 300,000 American families discovered that vacation ownership was the new way to vacation. There are more than 1,600 resorts in the U.S. and domestic sales are estimated at $3.06 billion.

"I am honored to be ARDA's Chairman,'' Miller said. "The timeshare industry is growing at a phenomenal rate and is the vacationer's preference in today's rapidly changing travel and tourism industry. I hope that during my tenure as ARDA's Chairman many more millions of Americans will recognize that timesharing truly is the new way to vacation.''

The American Resort Development Association (ARDA) is the Washington, D.C. based trade organization representing the vacation ownership and resort development industries. Established in 1969, ARDA has close to 1000 members that range from privately held companies to major corporations. Today there are more than 1,800 resorts in the United States with more than 89,000 individual units.