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                                                                EXHIBIT 99.1

DEBT SCHEDULE
  11/5/98

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<CAPTION>

                                     BALANCE                                      
DEBT                                  05-NOV      MATURITY           RATE         
----                                  ------      --------           ----         
<S>                            <C>                <C>            <C>              
NationsBank                       12,875,000      11/18/98       Libor + 2.75     
CHC Loans                        103,000,000      12/15/98       Libor + 2.25     
Emerald Plaza                     35,000,000      12/31/98       Libor + 1.9      
Casa Marina                       30,566,000      12/31/98       Libor + 2.0      
Harrisburg                        19,838,875      12/31/98       Libor + 2.25     
Arcadian Feb 98 Facility             850,000      12/31/98       SLibor(3) + 1.75 
                                                                                  
Arcadian Overdraft Facility        3,400,000  Reviewed Annually  UK Base + 1.25   
                                                                                  
----------------------------------------------------------------------------------
Condado                           55,000,000      1/29/99        Libor + 2.25    
El Conquistador                   90,000,000      1/29/99        Libor + 2.25    
Tranche I                        350,000,000      1/31/99        Libor + 2.25     
Arcadian Feb 98 Facility           5,950,000      2/31/99        SLibor + 1.75    
                                                                                  
Tranche II                       400,000,000      3/31/99        Libor + 2.25     
Unsecured Recourse Loan          160,000,000      4/15/99        Libor + 2.25     
Golden Door Spa                    2,000,000       6/1/99            AFR          
Chase Promissory Note             49,255,000      11/5/99        Libor + 2.25     
Syracuse                           9,774,066      12/1/99            8.0%         
----------------------------------------------------------------------------------
Tranche III                      450,000,000      3/31/00        Libor + 2.25     
Golden Door Spa                    2,000,000       6/1/00            AFR          
Revolver(1)                      887,758,199      7/18/00        Libor + 2.25     
Arcadian Additional Loan           6,800,000      7/31/00        SLibor + 1.75    
                                                                                  
Santa Maria                        4,000,000      8/27/00        Libor + .5       
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Golden Door Spa                    2,000,000       6/1/01            AFR          
Reach                              9,347,583       7/1/01            8.0%         
                                                                                  
Wyndham PeachTree                 38,000,000      10/23/01       Libor + 3.50     
Arcadian Term Loan                29,750,000      11/01/01       Libor + 1.25     
                                                                                  
Arcadian Revolving Credit                                                         
   Facility                       30,600,000      11/01/01       Libor + 1.25     
                                                                                  
----------------------------------------------------------------------------------
St. Louis                          8,276,404       5/1/02            9.6%         
Pittsburgh                        14,462,744       6/1/02            9.0%         
Meadows Del Mar                    1,172,016       6/1/02        Libor + 3.56     
----------------------------------------------------------------------------------
Tranche B                        599,500,000      3/31/03        Libor + 2.5      
El San Juan                       42,100,000      8/31/03        Libor + 2.0      
Malmaison Senior Debt             25,956,300      12/1/03        Libor + 2.5      
                                                                                  
Leeds Site Debt                    2,260,710      12/1/03        Libor + 2.5      
                                                                                  
Bourbon Orleans                   13,500,000       1/1/04        Libor + 2.0      
Ventana Canyon                    28,488,769       3/1/05           6.50%         
Radisson Beachwood                 5,064,553      5/31/05           9.75%         
Clubhouse                         22,826,894      10/1/05           8.7%          
Reach                             14,990,400      10/1/05           9.1%          
El Conquistador                   25,000,000       2/7/06        Libor + .9       
Wyndham Senior Sub(2)              1,510,000      5/15/06          10.5%          
Gressy Term Loan                   2,448,000       4/1/07         TBB + 2.5       
Met Life Portfolio                84,058,200      10/1/07           8.08%         
                                                                                  
Embassy Suites Chicago            41,671,000      10/16/08          8.25%         
Greenspoint                       41,372,000      10/16/08          8.25%         
Great Eastern Tranche A           25,500,000      10/15/10          9.00%         
Great Eastern Tranche B           13,600,000      10/15/10       Libor + 1.75     
Saletta Term Loan                  8,639,000       7/1/14        Ribor + 1.75     
                                                                                  
Buena Vista                       47,223,119      12/1/15           9.11%         
Vinings                            9,675,000       2/1/23           6.15%         
                                                                                  
Summerfield                          338,200      On Demand         Prime         
Capital Leases                    31,450,256                                      
                               -------------                                      
TOTAL                          3,898,848,288                                      
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(1) LOCs of Approximately $24M exist which count against credit availability
(2) Unable to locate payee in order to tender notes
(3) SLibor - Sterling Libor