Prime Hospitality Corp. Sells Remaining Five HomeGate Hotels

24th Mar 2000

Prime Hospitality Corp. (NYSE:
PDQ) announced today that it has sold its interests in its remaining five
HomeGate hotels to subsidiaries of the Amerand Corp., a hotel operator in
Texas.  In addition, Amerand Corp. has purchased all rights to the HomeGate
brand name.

The purchase price was $17.7 million which includes the transfer of
$17.4 million of first mortgage debt. The hotels, all of which are located in
Texas, comprised the last remaining HomeGate hotels owned by Prime.  In
November 1999, Prime had converted 38 HomeGate hotels to its Wellesley Inn &
Suites brand.



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