[NEWS] Hyatt Luxury Fractional Ownership Planned for Siesta Key
Larry Shulman, VP of sales and marketing for Hyatt Vacation Ownership, Inc., announced that Hyatt Vacation Marketing will market the former Sea Castle property on Siesta Key's Crescent Beach as deeded luxury fractional ownership residences. Sea Castle has been razed and a new, purpose-built structure is rising in its place. Other Hyatt luxury fractional residences are in the quintessential Rocky Mountain resorts of Aspen, Beaver Creek and Breckenridge as well as currently under development on Fifth Avenue in New York City. Luxury Fractional ownership properties have proven to be popular in resort destinations where owners can choose the time they most want to use their home. Fractional ownership generally includes amenities and features found in homes valued in excess of $3 million. Hyatt Siesta Key Beach will be the first purpose-built beachfront residences in the Sarasota area. There are 44 fully furnished residences planned with thirteen different floorplans and living space ranging from 1600 to 2600 square feet. Each residence will feature extraordinarily high-end finishes, including Wolf, Sub Zero and Fisher Paykel appliances and Lube kitchens. Ownership at Siesta Key Beach includes 365 day Beach Club privileges. Hyatt Vacation Ownership will open a sales gallery at 202 North Tamiami Trl. in early January 2008 and occupancy is planned for March 2009. Phase 1 release includes 11 residences priced from just under $200,000 to just over $750,000. This is Hyatt Vacation Ownership's 14th luxury resort property.
