Press Release
July 18, 2001
MEMPHIS, TN -- ResortQuest International, Inc. (NYSE: RZT), the world's largest vacation rental property management
company, today announced it has signed an agreement with Interval Travel, a sister company of Interval International,
that makes Interval's extensive vacation timeshare rental inventory available on the ResortQuest Web site.
``We see great opportunity in partnering with Interval International to leverage our industry-leading resort rental
management business,'' said David Levine, chairman, president and chief executive officer of ResortQuest. ``The
timeshare industry is a complementary and growing market. By working with Interval, the clear quality leader in
the vacation ownership industry, a large growth opportunity exists for ResortQuest to include selected resort locations
from Interval's network. This alliance is a win for our customers who will benefit from expanded choice, as well
as for our homeowners, who will benefit from increased guest traffic to ResortQuest, while increasing the overall
long term value of the company.''
``We are very pleased to join forces with ResortQuest,'' said Craig M. Nash, chairman and chief executive officer
of Interval International. ``The company is an established leader in vacation rental property management and its
Web site serves as an exceptional third party distribution mechanism. Through it, Interval will be able to reach
a large audience of vacationers to whom we can offer a variety of timeshare properties providing a value to the
consumer while at the same time benefiting our affiliated developer clients.''
Under the terms of the agreement, visitors to ResortQuest's Web site will have access to many major resort locations.
The initial terms of the agreement call for a two-year deal with rights to extend. ResortQuest will clearly designate
timeshare rental inventory from its vacation whole ownership inventory.
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 billion.
Interval Travel is a full-service travel agency and sister company of Interval International, the quality exchange
company. Interval is celebrating its 25th year in the vacation ownership industry. The company's reputation for
superior products and the highest levels of quality, service and value has attracted leading developers to its
network. Interval serves its developer clients and consumer members through 30 offices in 21 countries.
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
or
Media:
Sloane & Co.
Dan O'Connor, 212/446-1865
or
Interval International
Rhonda Victor Sibilia, 305/666-1861, ext. 7267