ResortQuest International, Inc. (NYSE: RZT), the first brand name and online booking service (ResortQuest.com) in vacation condominium and home rentals, sales and property management services, today announced that David C. Sullivan will retire as board chairman at the company`s May 11 annual meeting, and that David L. Levine will assume the role of chairman of the board, in addition to his current duties as president and chief executive officer. Sullivan will continue to serve as a consultant to the company and remain on the board of directors.
“David Sullivan was the founding force behind ResortQuest,” said David Levine. “He created the vision that gave life to the concept and structure of the company. Under his leadership, ResortQuest redefined the vacation rental industry and enjoyed phenomenal growth, acquiring more than 17,000 vacation rental properties in 40 premier resort locations. David has built a solid foundation for the new management team, which is now in place. He has enjoyed a highly successful 35 year career in the hospitality industry, and we are fortunate we will be able to continue to benefit from his counsel and experience as we shift our focus toward the internal growth opportunities of our business and industry.”
“I`ve thoroughly enjoyed helping guide the company through its formative years,” said David Sullivan. “As I pass the baton, I have the utmost confidence in David Levine and his team and their ability to take the company to the next level. David and I have known each other for 25 years; his operating experience, in-depth knowledge of our business, commitment and passion for excellence make him the ideal choice to lead the company and the board.”
Memphis-based ResortQuest International provides a one-stop resource for vacation home and condominium rentals in 40 premier resort destinations in North America. ResortQuest`s total portfolio now comprises more than 17,000 vacation rental properties. ResortQuest also is the first branded vacation rental, property management and real estate sales company to offer online booking through ResortQuest.com.
ResortQuest`s locations include Gulf Shores, Ala.; Scottsdale/Phoenix and Tucson, Ariz.; Palm Desert and Palm Springs, Calif.; Aspen, Breckenridge, Crested Butte, Dillon, Snowmass Village and Telluride, Colo.; Bethany Beach, Del.; Beaches of South Walton, Bonita Springs, Captiva Island, Destin, Ft. Myers, Ft. Myers Beach, Marco Island, Naples, Navarre Beach, Okaloosa Island/Ft. Walton Beach, Orlando, Sanibel Island and Vanderbilt Beach, Fla.; St. Simons Island, Ga.; Hawaii, Maui, Oahu, and Kauai, Hawaii; Nantucket, Mass.; Big Sky, Mont.; the Outer Banks of North Carolina; Lake Erie Islands, Ohio; Sunriver, Ore.; Hilton Head Island, S.C.; Deer Valley, Park City and The Canyons, Utah; and Whistler, British Columbia.
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 s should not be regarded as a representation by ResortQuest or any other person that the objectives and plans of the company will be achieved.