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Press Release: ResortQuest International, Inc.
January 17, 2003
MEMPHIS, TN -- ResortQuest International, Inc. (NYSE:RZT), one of the world's leading vacation rental property
management companies, yesterday announced a reorganization of the company's senior regional management.
ResortQuest President and Chief Executive Officer Jim Olin announced that Steve Schein is the new Western Region
Vice President; Val Costley, formerly Western Region Vice President will now be Eastern Region Vice President;
and Ed Seymour, President of Abbott Resorts in Northwest Florida, will add the new title of Florida Vice President.
Kelvin Bloom, ResortQuest's Regional Vice President will continue to oversee the company's Hawaii operations. The
Regional Vice Presidents will report to Park Brady, Chief Operating Officer.
"Steve, Val and Ed have all distinguished themselves as excellent managers who understand every facet of our
business. These executives have experience to grow each of our geographic regions to the fullest extent possible,"
said Jim Olin, ResortQuest President and CEO. "For ResortQuest's continued success it is critical that we
have managers that know how to grow our existing markets."
As head of the western region, Schein will be responsible for the overall administration and supervision of the
property management and real estate operations for the Western continental United States and Whistler, Canada.
Schein's territory will include mountain resort properties and the desert southwest.
Schein joined ResortQuest as a co-owner of one of ResortQuest's original local operating companies in 1998. He
has served as a principle, President and General Manager of resort management companies in Telluride, Colo. and
Scottsdale, Ariz. Outside of ResortQuest, Schein has been a founding investor and consultant in several start-up
opportunities in the areas of property management, leisure travel and resort development
Val Costley will be moving east to manage ResortQuest operations along the Eastern Seaboard. As the new Eastern
Regional VP, Costley and will be responsible for the supervision of the property management and real estate operations
from St. Simon's Island, Georgia up to New England. Costley also joined ResortQuest in 1998. Costley played a critical
role in the development of ResortQuest, helping merge several property management companies into the company. Prior
to ResortQuest, Costley has more than thirteen years of experience in rental management in Breckenridge, Colorado.
Ed Seymour, President of Abbott Resorts, Northwest Florida, will become Regional VP of Florida and will be responsible
for the supervision of property management and real estate operations for ResortQuest properties in the Sunshine
State. Seymour manages more than 6,000 units in the rapidly developing area from Gulf Shores, Ala. to Panama City
along Florida's Gulf Coast. Seymour's background includes more than 20 years in mechanical contracting and commercial
construction, along with substantial experience in shopping center development, commercial leaseback and subdivision
development.
Kelvin Bloom retains his position as Vice President of ResortQuest Hawaii. Bloom, is also President of Aston Resorts
Hawaii oversees more than 6,000 properties on the islands, including Aston Hotels & Suites. Based in Honolulu,
ASTON (R) Hawaii is the number one operator of suites and resort condominiums and hotels on the Islands.
About ResortQuest International
Memphis-based ResortQuest International (NYSE:RZT), the first brand name and "real-time" online booking
service (http://www.resortquest.com) in vacation condominium
and home rentals and sales, provides a one-stop resource for 52 premier resort destinations in the U.S. and Canada.
ResortQuest is the world's leading vacation rental property management company, based on a portfolio of over 20,000
vacation rental properties with a combined real estate value estimated in excess of $7.0 billion.
All of ResortQuest's vacation rental accommodations include spacious, well-appointed condos or homes with a full
kitchen. ResortQuest also maintains a portfolio of hotel properties in Florida and Hawaii. To make reservations
or view all special offers, visit http://www.ResortQuest.com or call 800-GO-RELAX.
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Contact:
Yesawich, Pepperdine Brown & Russell PR, Orlando
Will Wellons, 407/838-1794
Will_Wellons@ypbr.com
or
Allison Pope, 407/838-1719
Allison_Pope@ypbr.com
Source: ResortQuest International, Inc.