PRESS RELEASE

For Immediate Release
Contact: Debra Kelman 212-794-DKPR (3577)
dkelman@dkpr.com

The Travel Business Roundtable Announces Three New Members

WASHINGTON, D.C.—April 11, 2000 – The Travel Business Roundtable (TBR), a coalition of over 60 CEO's representing all sectors of the travel industry, has announced three new members. These include Thomas J. Corcoran Jr., President and CEO of FelCor Lodging Trust, Thomas Hewitt, Chairman and CEO of Interstate Hotels, and Laurence C. Siegel, Chairman and CEO of Mills Corporation

FelCor Lodging Trust is a real estate investment trust headquartered in Irving, TX. Formerly FelCor Suite Hotels, FelCor Lodging Trust owns interests in approximately 195 hotels. FelCor renovates and rebrands popular properties with names like Crowne Plaza, Embassy Suites, Doubletree Guest Suites, Sheraton, Holiday Inn, and Hilton Suites.

Founded in 1961, Interstate Hotels is one of the largest independent hotel management companies in the United States with more than 165 hotels in 38 states, as well as Canada, the Caribbean and Russia. Headquarted in Pittsburgh, Interstate operates more than 25 different franchise brand multiple luxury independent hotels and resorts in all market segments.

The Travel Business Roundtable is a coalition of more than 60 CEO's representing all sectors of the travel and tourism industry. In addition to the major airlines, car rental companies, travel management agencies, hotel chains, TBR's membership roster also includes companies such as The Coca-Cola Company, USA Today, and the International Council of Shopping Centers, demonstrating the broad scope and diversity the industry represents.

Reflective of that point is data showing that shopping is the number one activity for both domestic and international travelers, generating more than $50 billion for the economy.

The Mills Corporation develops and operates megamalls, all of which are in or near major metropolitan areas. While most of these malls are based in the Southern U.S., Mills Corporation also has a presence in Chicago and Washington, DC. In addition to ownership of nine indoor malls, the Mills Corporation also owns one large outdoor shopping plaza and 11 community shopping centers, with close to 17 million square feet of retail space.

Chaired by Jonathan Tisch, President and CEO of Loews Hotels, TBR's mission is to educate elected officials on all levels of government on the important contributions the travel and tourism industry makes to the nation's economy. Among the issues it is currently addressing include full restoration of the business meals deduction, welfare to work tax credits, elimination of taxes on frequent flyer miles, and opposition to an increase in the minimum wage.

The TBR is also working to address the worker shortage issue, which is a challenge affecting all industries. But, with travel and tourism growing, the challenge is magnified, and thus a priority from both a management and labor perspective.

Projected to be the world's largest industry within the next decade, travel and tourism is the nation's third largest retail industry and second largest employer with more than 17million Americans employed directly or indirectly in travel and tourism. As America's leading services export, travel and tourism created a trade surplus of nearly $12 billion in 1999, generating $82 billion of tax revenue and $541 billion in total expenditures.

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