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ResortQuest International Merges Shoreline Rentals
and Worthy Rentals, Under the New Name
ResortQuest Hilton Head Island
Reorganization will offer homeowners more marketing clout 
        
HILTON HEAD ISLAND, S.C. (November 20, 2002) � ResortQuest International has merged two of the island's oldest and largest home and villa rental companies, Shoreline Rentals and Worthy Rentals, under the new name ResortQuest Hilton Head Island. 
        
The companies, which manage 650 condos, homes and villas between them, will be consolidated under one roof in Shoreline's current location at 21 Pope Avenue effective Nov. 15th. 
         
"Both companies have strong inventories and follow the same solid business practices," said Jim Olin, ResortQuest International President and Chief Executive Officer.  "With consolidation, we can achieve economies of scale and better serve our homeowners and vacationers with a wider variety of offerings from one location.  With ResortQuest Hilton Head Island we eliminate the duplication of efforts in marketing, publicity and promotions." 

Michael Shaffer, Eastern Regional Vice President added, "ResortQuest Hilton Head will provide more effective marketing exposure for our homeowners while enhancing the high quality of service our guest have come to expect. Our company has local roots that go back two decades. This consolidation of two fine firms positions ResortQuest as the leading vacation rental company on the island."
        
Worthy, which was started by Ann Worthy more than 20 years ago, and Shoreline, which was founded in 1983 by Charles and Ellen Taylor, were purchased by ResortQuest International about three years ago, but have been operating as separate units until now.  
        
Shoreline and Worthy each employ about 15 people, and everyone will be based in the new welcome center, Olin said.  General Manager Lori Romolo at Worthy and Broker in Charge Renee T. Sabados at Shoreline will retain their titles and will head the operations and reservations divisions, respectively. 

About ResortQuest International
Memphis-based ResortQuest International (NYSE:RZT), the first brand name and "real-time" online booking service (www.resortquest.com) in vacation condominium and home rentals and sales, provides a one-stop resource for 52 premier resort destinations in the U.S. and Canada. ResortQuest is the world's leading vacation rental property management company, based on a portfolio of approximately 20,000 vacation rental properties with a combined real estate value estimated in excess of $7.0 billion.  All of the ResortQuest's vacation rental accommodations include spacious, well-appointed condos or homes with a full kitchen.  ResortQuest also maintains a portfolio of upscale hotel properties in Florida and Hawaii.  
 

Contact:
Beth Weisner
ResortQuest Hilton Head Island
843-785-5577
www.ResortQuest.com
Also See: Island Resorts Development, Inc. of Pensacola Appoints ResortQuest to Manage Portofino, a Condominium Resort and Spa on Santa Rosa Island in the Gulf of Mexico / April 2002


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