ResortQuest International, Inc. (NYSE: RZT), the world`s largest vacation rental property management company, today announced it has been selected to join the Russell 2000(R) stock index. ResortQuest was officially added to the Russell 2000 today as a part of the annual reconstitution of the index.
Each year the Frank Russell Company adds new top-performing aggressive growth or value play small and mid-cap stocks to its Russell 2000 Index. This well-known and influential index is comprised of companies with an average market capitalization of approximately $580 million.
“We are delighted to be recognized as part of the highly reputable Russell 2000 Index,” said David Levine, Chairman, President and Chief Executive Officer of ResortQuest. “We believe the induction of ResortQuest is a reflection of the market`s confidence in our long-term business strategy where we are focused on building a national brand, leveraging technology and providing superior service for both our guests and homeowners.”
About Frank Russell Company:
Frank Russell Company (www.russell.com), a global investment services firm, provides multi-manager investment products and services in more than 35 countries. Russell manages $66 billion in assets and advises clients representing more than US$1 trillion worldwide. Founded in 1936, Russell is a subsidiary of Northwestern Mutual and is headquartered in Tacoma, Wash., with additional offices in New York, Toronto, London, Paris, Singapore, Sydney, Auckland and Tokyo. The company ranks 13th on Fortune magazine`s top 100 best companies to work for in the United States.
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 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.