ORLANDO-ResortQuest International of Memphis, TN, which bills itself as the world's largest vacation rental property management company, is adding 498 condominium units in Central Florida to its portfolio of 20,000 global units with an aggregate value of $7 billion, according to the company's prepared statement.

The signing of locally based Maesbury Homes Inc.'s Bahama Bay Resort on 98 acres overlooking Lake Davenport, 10 miles west of Walt Disney World, gives the four-year-old Tennessee company an opportunity to garner a small slice of market share it has been seeking in the competitive condo management category.

At the same time as ResortQuest was announcing its new contract, Germany-based Hapimag, the world's oldest timeshare company (1963) was completing plans to open its $53 million, 18-building, 97-unit condo community May 11 at Lake Berkley in Kissimmee, FL, also near Walt Disney World.