Hyatt Vacation Club Timeshare Developing Fractional in Siesta Key, Florida
Monday, January 28, 2008
On one of the nation’s top 10 beaches, in Siesta Key, Florida, Hyatt Vacation Club timeshare is developing a fractional ownership resort, which they say is unlike timeshare ownership.
The resort will front 300 feet of Crescent Beach and will offer 44 furnished vacation condos ranging from 1600 square feet to 2600 square feet with privleges at the adjoining beach club. To be known as the Hyatt Siesta Key Beach resort, the vacation ownership property will offer valet parking, a concierge, pool, spa, and fitness center with massage treatment rooms.
Larry Shulman, senior vice president for Hyatt Vacation Ownership, Inc, says, “We have every reason to believe through an early survey we’ve done (that) there’ll be a very significant local contingent of owners more likely to purchase in summertime rather than wintertime.”
In the first phase of occupancy, 11 vacation condo units will be sold as fractional ownership residences. As Shulman explains, “Effectively, there’ll be eight owners of each residence.” Occupancy is expected by 2009.
Hyatt Vacation Club timeshare has similar properties in Bonita Springs, Florida, and in Aspen, Beaver Creek and Breckenridge, Colorado, as well as at Lake Tahoe, Nevada.
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