MEMPHIS, TN ResortQuest International, a vacation rental property management company, has made two acquisitions in its key target markets. ResortQuest has expanded its inventory in Florida through the acquisition of Universal Vacations and in Gatlinburg, TN through the acquisition of Mountain Valley Properties. Both companies operate in year-round vacation markets.
Both acquisitions were executed through all-cash transactions. The company expects the combined operations to be slightly accretive to earnings for the remainder of the year with a slightly negative impact to second quarter earnings. On an annual basis, the company expects these acquisitions to contribute between $0.01 and $0.02 to earnings. (5/9/01)