May 19, 1998



Famous Host Lodging V, L.P.
c/o The Famous Host Companies
2030 J Street
Sacramento, California  95814

Attn: Mr. Philip Grotewohl


Dear Mr. Grotewohl:

Pursuant to your  request,  we have  analyzed the proposed  transaction  whereby
Tiburon Capital  Corporation would acquire the following hotel which is owned by
Famous Host Lodging V, L.P.

                                    Holiday Inn
                                    1511 East Main Street
                                    Barstow, California

As we understand it, Tiburon Capital  Corporation would acquire this property on
an all cash basis for a total consideration of $4,100,000. Based on our analysis
of the above hotel property, we are of the opinion that the proposed transaction
is fair and equitable from a financial standpoint to the limited partners of the
Partnership.

If you  have  any  questions  on the  foregoing,  or if I can be of any  further
assistance, please don't hesitate to contact me directly.

                                        Very truly yours,

                                        PKF Consulting



                                        /s/ THOMAS E. CALLAHAN
                                        Thomas E. Callahan, CPA, CRE, MAI
                                        Executive Vice President


TEC/klk