By: Yahoo Finance
(09-10-2002)

MEMPHIS, Tenn.--(BUSINESS WIRE)--Oct. 9, 2002-- ResortQuest International, Inc. (NYSE: RZT - News), one of the world's leading vacation rental property management companies, today announced three appointments to the Company's senior management team effective immediately. Park Brady, formerly regional vice president, has been appointed to senior vice president and chief operating officer. Steve Caron, formerly director of Information Technology has been appointed to senior vice president and chief information officer. Bob Adams, formerly vice president marketing and sales, has been appointed to senior vice president and chief marketing officer.


"I am very pleased to make these promotions since I have worked closely with Park, Steve and Bob for a number of years and they have each played an integral role in growing our business," said Jim Olin, president and chief executive officer of ResortQuest International. "We continue to feel that the strength of our overall company and our entire management team have placed ResortQuest in position to continue to grow our brand, garner greater market share, provide better service to our guests and homeowners, and drive shareholder value."

Park Brady will take on responsibility for the day-to-day operations of ResortQuest's more than 20,000 vacation rental properties. Brady has been with ResortQuest since the IPO in 1998, and previously supervised more than 3,000 property units and 1,500 employees in the Western United States and Canada. From 1985 to 1998, Brady was the founder, owner and president of Telluride Resort Accommodations, one of the original founding ResortQuest companies. Mr. Brady began his career as pilot for the United States Air Force, and then held positions of increasing responsibility within the banking and mortgage lending industry. He has been an active Real Estate Broker and Property manager since 1978. Brady received his B.A. from the University of Florida, and a Masters Degree from Ball State University.

Steve Caron will lead ResortQuest's technology initiatives and be responsible for the supervision and operation of the Company's customer contact center technology, networking and web development, as well as overseeing the operations of First Resorts Software, ResortQuest's leading software company. As director of Information Technology since 1998, Caron has improved the Company's call center and data center operations as well as overseeing E-Commerce systems and corporate systems security. Previously, Caron was the director of Information Systems for Abbott Resorts, Inc., a property management and realty company in Destin, Florida that was acquired by ResortQuest in 1998. Mr. Caron began his career as an officer with the United States Air Force specializing in systems operations and navigation. He received a B.S. in Computer and Information Sciences from Florida State University.

Bob Adams will be responsible for all national and international online and off-line marketing strategies, communications, brand management and positioning strategy as chief marketing officer. Adams began with ResortQuest in 2000 as vice president of marketing and sales and has been actively involved in implementing cross-selling strategies, managing the extensive database of homeowners and vacationers, building additional revenue streams through key alliances, and developing marketing strategies to drive customer loyalty, retention and revenue growth. Mr. Adams has over 25 years of marketing and sales experience and held director of marketing positions for both AutoZone Corporation (NYSE: AZO - News) and Boyd Gaming Corporation (NYSE: BYD - News). He began his career with managerial positions in marketing, communications and promotions for companies in the hotel and restaurant industries including AZAR Inc., Servico Management Corporation and J.C.S. Corporation which carried brands such as Hilton, Marriott, Sheraton, and Holiday Inn. Adams received a B.A. in Marketing and Communications from Indiana University, as well as receiving certification in E-Business Strategies from the Executive Management Education Program at the Kellogg Graduate School of Management, Northwestern University. He has also received Certified Travel Counselor certification from the Institute of Certified Travel Agents (ICTA).

Brady, Caron and Adams will all report directly to Jim Olin.

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 over 50 premier resort destinations in the U.S. and Canada. ResortQuest is one of the world's leading vacation rental property management companies, based on a portfolio of approximately 20,000 vacation rental properties with a combined real estate value estimated in excess of $7.0 billion.

This news release 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. These forward-looking statements involve risks and uncertainties, as well as assumptions that, if they never materialize or prove incorrect, could cause the results of ResortQuest and its consolidated subsidiaries to differ materially from those expressed or implied by such forward looking statements. In addition to the factors discussed above, other factors that could cause actual results to differ materially include the risks associated with successful integration of additional acquired companies factors affecting internal growth and management of growth, ResortQuest's acquisition strategy and the 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 from time to time in ResortQuest's Securities and Exchange Commission reports, including its annual report on Form 10-K for the year ended December 31, 2001.

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. 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. The Company undertakes no obligation to publicly update or revise any forward-looking statements whether as a result of new information, future events or any other reason.



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Contact:
Investor Relations Contacts:
ResortQuest International
Mitch Collins / David Selberg, 901/762-0600
or
Sloane & Company
Jenny Lee, 212/446-1892
or
Media Contacts:
Sloane & Company
Dan O'Connor, 212/446-1865