ResortQuest Named to Manage the Tortuga Inn on Anna Maria Island

Business Wire, August 13, 2003

Business Editors/Travel Writers

DESTIN, Fla.--(BUSINESS WIRE)--Aug. 13, 2003

ResortQuest International, (NYSE:RZT) the nation's leading manager and marketer of vacation condominiums, homes, and villas, has been named the property and resort manager for Tortuga Inn on Anna Maria Island, near Longboat Key, Fla., on Florida's Gulf Coast.

The 55-unit Tortuga Inn is a landmark on Anna Maria Island. The old Florida-style Inn offers upscale condominiums overlooking a pristine private beach on the Gulf of Mexico, as well as Sarasota Bay. The Tortuga Inn offers one-, two- and three-bedroom condos.

Under the agreement, ResortQuest will market the Inn's vacation rentals and oversee all operations at the resort. The new agreement augments ResortQuest's presence in Southwest Florida with a new luxury rental property that can be rented on a daily basis.

"There is a demand in Southwest Florida for quality vacation condominiums that can be rented for a shorter stay," said Larry Starr, President of ResortQuest Southwest Florida. "The Tortuga Inn is a great addition to our management portfolio -- especially since the property is completing a renovation that will make it even more attractive."

"After considering several management companies and operators, it was clear that ResortQuest was the best choice because of their presence and national reach," said Tortuga developer, David Teitelbaum. "I am impressed by their level of experience and marketing expertise, particularly their commitment to a long-term presence in Southwest Florida. Beyond that, their exposure in more than 50 premier resort destinations both nationally and internationally provides the great potential for the property to attract new guests to the area."

The Tortuga Inn is a unique old Florida-style beach to bay resort. Lush landscaping and tropical foliage line the breezeways throughout the property and surround the sparkling fountain-fed swimming pool. Ultimately, there will be three pools at the 55-unit resort. Tortuga Inn offers the guest upgraded kitchen appliances, customized built-ins and luxurious furnishings and upscale appointments such as Mexican tile.

"These accommodations are rated 'gold' in the ResortQuest national rating system which is synonymous with high quality and luxury," Starr said.

To inquire or make a reservation for the Tortuga Inn, 1325 Gulf Drive North, Bradenton Beach, FL 34217, call toll free 877-867-8842 or visit resortquestswflorida.com/tortuga.

About ResortQuest International

Florida-based ResortQuest International (NYSE:RZT), the first brand name and "real-time" online booking service, http://www.resortquest.com, in vacation condominium, home and villa rentals and sales, provides a one-stop resource for more than 50 premier resort destinations in the continental U.S., Canada and Hawaii. ResortQuest is the nation'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 ResortQuest's vacation rental accommodations include spacious, well-appointed condominiums, homes or villas. ResortQuest also manages a portfolio of hotel properties in Florida and Hawaii. To make reservations or view special offers, visit resortquest.com or call 800-GO-RELAX.