ResortQuest International, Inc. (NYSE: RZT), the world`s largest vacation rental property management company, today announced it has signed an agreement with Interval Travel, a sister company of Interval International, that makes Interval`s extensive vacation timeshare rental inventory available on the ResortQuest Web site.
“We see great opportunity in partnering with Interval International to leverage our industry-leading resort rental management business,” said David Levine, chairman, president and chief executive officer of ResortQuest. “The timeshare industry is a complementary and growing market. By working with Interval, the clear quality leader in the vacation ownership industry, a large growth opportunity exists for ResortQuest to include selected resort locations from Interval`s network. This alliance is a win for our customers who will benefit from expanded choice, as well as for our homeowners, who will benefit from increased guest traffic to ResortQuest, while increasing the overall long term value of the company.”
“We are very pleased to join forces with ResortQuest,” said Craig M. Nash, chairman and chief executive officer of Interval International. “The company is an established leader in vacation rental property management and its Web site serves as an exceptional third party distribution mechanism. Through it, Interval will be able to reach a large audience of vacationers to whom we can offer a variety of timeshare properties providing a value to the consumer while at the same time benefiting our affiliated developer clients.”
Under the terms of the agreement, visitors to ResortQuest`s Web site will have access to many major resort locations. The initial terms of the agreement call for a two-year deal with rights to extend. ResortQuest will clearly designate timeshare rental inventory from its vacation whole ownership inventory.
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 billion.
Interval Travel is a full-service travel agency and sister company of Interval International, the quality exchange company. Interval is celebrating its 25th year in the vacation ownership industry. The company`s reputation for superior products and the highest levels of quality, service and value has attracted leading developers to its network. Interval serves its developer clients and consumer members through 30 offices in 21 countries.