EXHIBIT 22 RIDGEWOOD PROPERTIES, INC. AND SUBSIDIARIES SUBSIDIARIES OF THE REGISTRANT Percentage State or of Voting Jurisdiction Securities of Incorporation Owned ---------------- ---------- Florida Communities, Inc. Florida 100% Ridgewood Orlando, Inc. Florida 100% Ridgewood Hotels, Inc. Georgia 100% Cornerstone Management & Development, Inc. Georgia 100% Wesley Hotel Group, Inc. Georgia 100% Florida Beta Hotel Corp. Florida 100% California Zeta Hotel Corp. California 100% Capital Alpha Hotel Corp. Washington, DC 100% California Eta Hotel Corp. California 100% Pennsylvania Alpha Hotel Corp. Pennsylvania 100% The foregoing subsidiaries are included in the consolidated financial statements of the Company.