Press Release: ResortQuest International
December 20, 2001
MEMPHIS, TN -- ResortQuest International, Inc. (NYSE: RZT), the world's largest vacation rental property management
company, today announced an agreement with leading travel agency group TRAVELSAVERS that makes ResortQuest the
preferred provider of vacation rental condos, homes, and villas to approximately 2,800 travel agencies, encompassing
over 10,000 travel agents.
``We are pleased to have partnered with one of the industry's leading travel agency marketing companies,'' said
David Levine, chairman, president and chief executive officer of ResortQuest. ``TRAVELSAVERS has a strong network
of travel agents both domestically and internationally as well as a proven and long-standing brand, that we expect
will drive bookings to our 20,000 vacation rental properties. We continue to explore other deals similar to today's
announcement that will increase our customer base of both property owners and vacationers, grow the company, and
ultimately provide positive return to our investor base.''
TRAVELSAVERS has been serving the leisure and corporate travel market since 1970, developing a strong industry
brand and agency network. Today's deal provides ResortQuest with a large opportunity to increase its already industry-leading
market share in the vacation condo, home, and villa rental management business through its role as preferred supplier
to TRAVELSAVERS. ResortQuest will work with the marketing company to educate their agents on the vacation home
rental business and ResortQuest's unique offerings including numerous properties in drive-to markets across the
country, as well as the industry's first accommodations rating system.
``ResortQuest is the far and away leader in vacation rental condo, home, and villa properties, and we are excited
to offer their unique collection of condominiums and homes to our customers through today's agreement,'' added
Charlie Leahy, Senior Vice President of TRAVELSAVERS- Hotel Division.
Terms of the partnership were not disclosed. ResortQuest will become the preferred supplier to the TRAVELSAVERS
travel agent network beginning January 1, 2002.
About ResortQuest International
ResortQuest International, the first brand name and ``real-time'' online booking service (www.resortquest.com
/ AOL Keyword: ResortQuest) in vacation condominium and home rentals and sales, provides a one-stop resource in
50 premier resort destinations in the U.S. and Canada. ResortQuest is the world's largest 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.
This filing contains certain forward-looking statements within the meaning of Section 27A of the Securities Act
and Section 21E of the Securities Exchange Act of 1934, as amended, which are intended to be covered by the safe
harbors created thereby. Investors are cautioned that all forward-looking statements involve risks and uncertainties,
including but not limited to the risks associated with: successful integration of the Founding Companies and additional
required companies factors affecting internal growth and management of growth, ResortQuest's acquisition strategy
and availability of financing, the tour and travel industry, seasonality, quarterly fluctuations and general economic
conditions, dependence on technology and travel providers, and other factors discussed in the Registration Statement.
Although the company believes that the assumptions underlying the forward-looking statements contained herein are
reasonable, any of the assumptions could be inaccurate, and, therefore, there can be no assurance that the forward-looking
statements included in this filing will prove to be accurate. Indeed, actual results may differ materially from
those expressed or implied in these statements. In light of the significant uncertainties inherent in the forward-looking
statements included herein, the inclusion of such information should not be regarded as a representation by ResortQuest
or any other person that the objectives and plans of the company will be achieved.
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Contact:
Investor Relations:
ResortQuest International
Mitch Collins / David Selberg, 901/762-0600
or
Sloane & Co.
Jennifer Ritter, 212/446-1889
Media:
Dan O'Connor, 212/446-1865