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Island Resorts Development, Inc. Appoints ResortQuest to Manage Portofino, a Condominium Resort and Spa on Santa Rosa Island in the Gulf of Mexico |
MEMPHIS, Tenn., April 30, 2002 - ResortQuest
International (NYSE: RZT), the world's largest vacation rental property
management company, has been selected for another major management agreement
that will expand its Florida inventory by more than 750 luxury vacation
rental condominiums along the Emerald Coast.
The addition of Portofino will push ResortQuest's inventory of beach condos, homes and villas to about 4,000 along Northwest Florida's Emerald Coast. Portofino developers chose ResortQuest because they wanted a management company that had a strong local and national presence to help market the property across the nation. Island Resorts Development signed a 47-year on-site management deal with ResortQuest. "We have designed the Portofino project to be an exclusive island residence. We needed a property manager that could give the residents and guests first-class service," said Portofino developer Allen Levin. "For many buyers, Portofino will be a second home, so owners want to see the best return on their investment. ResortQuest has a proven track record in the industry that is unmatched." Portofino, adjacent to eight miles of undisturbed national seashore, offers an exclusive escape for residents and guests. Portofino's two- and three-bedroom condos will all have a panoramic view of the Gulf of Mexico or Intracoastal Waterway. To preserve the view, architects spaced buildings at least a football field apart in every direction. The condos range in size from 1,500 to 2,500 square feet. The project will feature a 20,000-square-foot spa and fitness center, and each building will have its own heated lap pool. To protect the environment, Portofino is providing four floors of covered parking at the base of each of the five planned 21-story towers. "Portofino will set the standard that people want in luxury vacation living," said partner Robert Rinke. "We have tried to plan for everything that a person would need for a wonderful getaway." Pensacola-based Island Resorts Development, Inc. specializes in upscale resort development, and is currently developing the Portofino project on Santa Rosa Island in Northwest Florida. ResortQuest International specializes in vacation condominium and home rentals and sales. |
ResortQuest International 530 Oak Court Drive, Suite 360 Memphis, TN 38117 www.resortquest.com www.theportofino.com |