Aston parent cuts
earnings guidance
as CEO departs

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Star-Bulletin staff

ResortQuest Inc., which through its Aston Hotels & Resorts subsidiary manages more than 30 properties in Hawaii, said yesterday that Chairman and Chief Executive Officer David Levine has left the company to pursue other opportunities.

The Memphis, Tenn.-based company named vacation industry veteran and ResortQuest director Joseph Vittoria to chairman and appointed Jim Olin as CEO to go along with his current role as president and chief operating officer.

In another move, current chief financial officer Mitch Collins has been promoted to executive vice president. All the changes are effective immediately.

In addition, ResortQuest lowered its third-quarter guidance due to a softer-than-expected travel market.

The vacation rental-property management company said it now expects third-quarter earnings of 29 cents to 30 cents a share on revenue of $47.5 million to $48.5 million. ResortQuest previously had projected earnings of 36 cents to 38 cents a share and revenue of $48 million to $50 million, excluding revenue from managed entities.