EXHIBIT 99.
                                 [LETTERHEAD]


FOR IMMEDIATE RELEASE                              http://www.promus-hotel.com


Contact:        William L. Perocchi, Executive Vice President
                and Chief Financial Officer
                (602)220-6810

                Gregg A. Swearingen, Investor Relations
                (901)374-5468

                John C. Hawkins, Corporate Communications
                (901)374-5529


                DOUBLETREE, PROMUS COMPLETE MERGER TRANSACTION;
                      STOCK BEGINS TRADING ON NYSE (PRH)
                      ----------------------------------
                      Stockholder Rights Plan Adopted


   MEMPHIS, Tenn., December 19, 1997 - Doubletree Corporation and Promus 
Hotel Corporation announced today the completion of their previously 
announced merger. The newly-formed company is called Promus Hotel 
Corporation, whose stock begins trading today on the New York Stock Exchange 
and other regional exchanges under the symbol "PRH." Stockholders of both 
former companies overwhelmingly approved the merger transaction yesterday. As 
a result of the merger, each share of Doubletree Corporation common stock has 
been converted into one share of common stock of the new company, and each 
share of the former Promus Hotel Corporation has been converted into 0.925 of 
a share of common stock of the new company.

   "We are very pleased that we will begin the new year as one combined 
enterprise," said Raymond E. Schultz, chairman and chief executive officer. 
"Three months after we announced our intention to merge, we are more 
convinced than ever that this merger is a perfect fit. Together we will 
realize significant benefits for all our constituents."


Merger completion/page 2

   He added, "Our combined portfolio of fast-growing upscale and mid-priced 
brands is ideally positioned to benefit shareholders, guests and employees 
through cross-selling and cross-marketing programs that build on our 
complementary management and franchising strengths. In addition, we will be 
able to offer franchisees, developers and investors a full line of attractive 
hotel development opportunities."

   Richard M. Kelleher, president and chief operating officer of the new 
Promus Hotel Corporation, said, "Because our companies shared a common vision 
and similar culture, we have been able to move swiftly in integrating our two 
organizations. We are currently implementing programs to achieve cost savings 
in our newly combined corporate functions and support operations. Fundamental 
to our growth strategy are: (1) increasing revenue and operating performance 
of existing hotels; (2) developing new hotels under our existing brands; (3) 
achieving purchasing synergies; and (4) acquisition of hotel companies in the 
rapidly consolidating lodging industry. Our ability to develop new hotels and 
acquire hotel companies will be enhanced through our significant cash flow, 
strong balance sheet and access to sources of lower cost capital."

   The new Promus Hotel Corporation (the "Company") also announced that its 
Board of Directors has adopted a Stockholder Rights Plan and approved the 
issuance of one preferred stock purchase right (a "Right") for each share of 
the Company's common stock issued at or after the effective time of the 
merger.

   Each Right initially will entitle stockholders to buy one one-hundredth of 
a share of preferred stock for $160. The Rights will be exercisable only if a 
person or group acquires beneficial ownership of 15% or more of the Company's 
common stock or commences a tender or exchange offer upon consummation of 
which such person or group would beneficially own 15% or more of the 
Company's common stock (an "Acquiring Person").

   The Rights are designed to assure that all the Company's stockholders 
receive fair and equal treatment in the event of any proposed takeover of the 
Company and to guard against partial tender offers, open market accumulations 
and other tactics to gain control of the Company without paying all 
stockholders a control premium. The Rights will cause substantial dilution to 
a person or group that acquires 15% or more of the Company's common stock on 
terms not approved by the Company's Board of Directors. The Rights should not 
interfere with any merger or other business combination approved by the Board 
of Directors at any time prior to the first date that a person or group 
becomes an Acquiring Person.


Merger completion/page 3

   The new Promus Hotel Corporation (NYSE:PRH) is one of the world's premier 
lodging companies, with system-wide annual revenues of approximately $5 
billion. The company owns, operates or franchises more than 1,200 hotels, 
with approximately 177,000 rooms throughout the United States, Canada, Mexico 
and Latin America. It is the franchisor and operator of the Doubletree Hotels 
and Guest Suites, Embassy Suites, Homewood Suites, Club Hotels by Doubletree, 
Hampton Inn, Hampton Inn & Suites, Embassy Vacation Resorts and Hampton 
Vacation Resorts brands.


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