Table: Cendant's Empire Is Wounded...

VEHICLE SERVICES, $3.1 billion sales*

Avis rental-car business is under pressure as companies curtail travel. Cendant (CD ) also owns PHH Arval, a fleet-leasing operation.

HOSPITALITY, $1.8 billion sales

Travel-related industries are suffering. Cendant franchises hotel chains such as Ramada and Days Inn. It recently bought global reservation system Galileo International and is buying online travel agency Cheap Tickets.

* All sales estimates are for 2001.

Data: Jolson Merchant Partners

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