National company`s presence felt

JANUARY 30, 2004
National company’s
presence felt
ResortQuest International emerges
as a big player in resort industry
DANA SANCHEZ
Herald Staff Writer
ANNA MARIA ISLAND — A publicly
traded property management group with
local ties is becoming an increasing presence in an area traditionally identified by
small, locally owned and operated resorts.
ResortQuest International manages more
than 20,000 homes, villas and resorts
nationwide, with 7,000 of those in Florida,
and 3,000 in Southwest Florida. Owned by
Gaylord Entertainment, ResortQuest is part
of the same organization that owns Gaylord
Hotels and the Grand Ole Opry Hotels.
As manager of the Tortuga Inn since
May, ResortQuest Southwest Florida has
also taken on Tradewinds Resort and Old
Bridge Village, all in Bradenton Beach.
Units are sold and privately owned as condominiums, but the properties are run as
resorts, with units remaining part of the
county's rental pool.
An estimated 3,500 privately owned condos and homes in Manatee County are
available for rent, said Larry White, executive director of the Bradenton Area
Convention and Visitors Bureau.
"They've become a large presence,"
White said.
ResortQuest has about a 20 percent market share, said Larry Starr, the company's
regional president.
"We've been told that we are the largest
collector of bed tax for the county," Starr
said.
Susan Estler, spokesperson at the CVB,
said she could not verify that due to confidentiality issues.
ResortQyest recently added Silver Sands
Gulf Beach Resort on Longboat Key to its
portfolio. Previously owned and run by
Barbara Rodocker, a longtime beach property owner, the resort was sold in
November.
Also on Longboat, ResortQuest manages
Cabana Beach Club, Outrigger, some units
at LaPlaya and hundreds of other individually owned units.
With 200 employees between Anna
Maria Island and Marco Island, the company has 20 offices including the islands,
Bradenton and Sarasota.
Kevin Lawler, vice president of
ResortQuest Southwest Florida, is former
executive director of the Sarasota
Convention and Visitors Bureau. Starr is
involved in local tourism as a current board
member and past president of the Sarasota
CVB.
Starr owned Florida Vacation
Accommodations, a Longboat Key-based
vacation rental management company that
was purchased by ResortQuest in 2001.
The merger accomplished potentially
greater visibility for area resorts, Lawler
said.
Selling an alternative to the standard
hotel business, ResortQuest hopes to establish itself as a brand name.
"We have the marketing power of a
national organization and an opportunity to
cross-sell a brand that is becoming more
recognized," Lawler said.
The property management group advertises heavily in travel publications like
Southern Living, travel directories, newspapers in larger markets, TV and radio.
There's also cross-selling with other
ResortQuest locations.
"We try to use the most efficient form of
advertising," Lawler said. "Internet advertising continues to be the leading source of
our inquiries. The flexibility of the Web
site is as valuable as anything."
Currently, the heaviest advertising is
being done in areas with the worst weather,
especially New England and the Midwest,
he said.
Tortuga Inn is an example of how a
property can be managed and continue to
support the community, even though units
are individually owned, Lawler said.
David Teitelbaum owns Tortuga and Old
Bridge, and has a contract to buy
Tradewinds. He bought the properties within the last three years.
Teitelbaum's renovations and upgrades,
along with ResortQuest's ability to attract
"a quality level of clientele," make for a
good partnership, Lawler said.
"Resorts like that will enhance the
image of the community as well as support
the economic base. It still supports the tax
base and supplies the things the locals
want," Lawler said.