By: Yahoo Finance
(30-05-2001)

Company Leads the Industry by Factor of Seven
MEMPHIS, TN--(BUSINESS WIRE)--May 30, 2001--ResortQuest International, Inc. (NYSE: RZT - news), the world's largest vacation rental property management company, today announced that it has reached an industry-first milestone of 20,000 property units under management. The ResortQuest portfolio currently includes over $7 billion in property in fifty markets in premier vacation destinations across the United States and Canada.

``This is an important milestone for the company and the industry. Size is important, as it translates into greater choice for our guests and more revenue opportunities for our homeowners,'' said David Levine, Chairman, President and Chief Executive Officer of ResortQuest. ``With properties under management in the leading destinations in the U.S. and Canada, we can satisfy consumer demand and leverage economies of scale in marketing and operations - all of which deliver strong results to our shareholders.''

ResortQuest began in 1998 with just over 10,000 property units and has expanded through an aggressive campaign of acquisition and internal growth. Property owners and vacation-goers benefit from ResortQuest's universal quality rating system, virtual tours and ``real-time'' online booking. ResortQuest offers a national brand name and depth of service that is unique in the rental property management industry.

Thus far this year, ResortQuest has acquired 5 new companies in the Outer Banks of North Carolina, Gulf Coast of Florida, the Smoky Mountain Region of Tennessee and Steamboat Springs, Colorado, strategically bolstering its supply of high quality properties.

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 Contacts:
ResortQuest International
Mitch Collins / David Selberg, 901/762-0600
or
Media Contacts:
Sloane & Co.
Jennifer Ritter, 212/446-1889
Dan O'Connor, 212/446-1865