Interhome expands in USA

Interhome of Switzerland – Europe's fastest-growing holiday homes group – is launching major expansion in the United States. It has concluded a cooperation agreement with ResortQuest, the leading US company specializing in vacation property rental. The deal will create the largest vacation rental management network in the world.

Under the two-way tie-up, Florida-based ResortQuest will market to holidaymakers Interhome's 30,000 rental properties in 20 European countries. Interhome will market to its customers ResortQuest's 16,000 vacation rental units in the USA. The agreement guarantees exclusivity to both partners.

The agreement will run initially for three years and take effect from 31 July 2008, from which date the booking systems of both companies will be interlinked. Full integration will be completed by the end of July 2009. Both companies will continue to operate under their respective brand names. Interhome’s operations in Fort Lauderdale (Florida) will be transferred to the Resort Quest headquarters in Fort Walton Beach (Florida).

Simon Lehmann, CEO Interhome Group, says: «This cooperation agreement is another major milestone on our way to becoming market leader in Europe by 2010. Interhome and ResortQuest are an ideal match. We share a like-minded philosophy and this is reflected in our respective portfolios – superior quality properties, available year-round in a wide range of holiday destinations. Unlike our main competitors we also offer added value through our extensive networks of local service offices with on-site staff.»

ResortQuest CEO Park Brady said the new alliance with Interhome represented «extraordinary» opportunities for anyone involved in vacation rentals. He added: «This deal will broaden the global presence of both partners, result in greater choice for our guests and increase international business for our homeowners.»

Zurich-based Interhome – launched in Switzerland more than 40 years ago – can claim some half a million clients annually. In addition to properties in 20 European countries, Interhome already handles some 200 units in the USA (Florida) where it has been active for the past 17 years.

ResortQuest – which this year celebrates its 10th anniversary – provides a one-stop rental resource in North America’s premier resort destinations, including beach, ski and golf locations. Its portfolio of nearly 16,000 properties totals some 50,000 rooms and generates annual revenue of US$ 400 million.