NASHVILLE, TN— Gaylord Entertainment Co.s vacation property management division, ResortQuest, has acquired six businesses in four U.S. vacation markets from East West Resorts for approximately $22.25 million in cash. “All six businesses are an excellent fit with our current portfolio ” said Mark Fioravanti, president of ResortQuest, during a conference call. He added: “Gaylord gives us the opportunity to market to millions.” ResortQuest will add nearly 2,000 luxury residential rental homes, condominiums and villas to its 18,000 units under exclusive management. The deal is expected to be accretive to Gaylord Entertainments 2005 earnings per share. Locations include the Colorado ski destinations of Aspen and Breckenridge and the South Carolina beach destinations of Hilton Head and the Charleston Outer Islands, specifically Kiawah Island, Seabrook Island, Sullivans Island and Isle of Palms. Units in all of these markets will be marketed under the ResortQuest name following a transition period. The Colorado and Hilton Head locations are in existing ResortQuest markets and, as such, are expected to yield synergies.
