The Board of Directors
PHH Corporation

     We  consent  to  the   incorporation  by  reference  in  Form  8-K  of  HFS
Incorporated  dated May 14, 1997,  of our report dated May 17, 1996,  except for
the note on capital stock as to which the date is June 24, 1996, with respect to
the consolidated  balance sheets of PHH Corporation and subsidiaries as of April
30, 1996  and  1995  and  the  related   consolidated   statements   of  income,
stockholders'  equity,  and cash  flows for each of the years in the  three-year
period ended April 30, 1996.

     Our report  contains an explanatory  paragraph that states that the company
adopted the provisions of Statement of Financial  Accounting  Standards No. 122,
"Accounting for Mortgage Servicing Rights," in 1996.

/s/ KPMG Peat Marwick LLP

KPMG Peat Marwick LLP

Baltimore Maryland
May 14, 1997