ResortQuest International, Inc. (NYSE: RZT), 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.