$100 Million Fractional Ownership Resort Opens In Florida
August 8, 2009 by Fractional Ownership News ·
The newly completed Hyatt Siesta Key Beach luxury fractional resort is now open. The resort is located on one of the top beaches in the world, Siesta Key Beach, Florida. Owners of Hyatt Siesta Key Beach have travel opportunities to 14 other Hyatt Residence Club and Hyatt Vacation Club properties as well as over 380 Hyatt hotels worldwide with Hyatt Gold Passport™.
Mark Schoenfeld, Managing Director for The Carlyle Group, owners of Hyatt Siesta Key Beach, today announced that the resort has been completed and is now open. Hyatt Siesta Key Beach is the first purpose-built luxury fractional beachfront residences in the Sarasota area. The resort is the 15th property in the Hyatt Residence Club and Hyatt Vacation Club portfolio. Other resorts are in Key West and Bonita Springs, FL; Carmel, CA; San Antonio, TX; Aspen, Beaver Creek and Breckenridge, CO; Lake Tahoe, NV; Sedona, AZ and Dorado, Puerto Rico with Fifth Avenue, New York City coming soon.
“Carlyle enjoyed working with Hyatt to develop this splendid property on one of the most pristine beaches in the country,” said Schoenfeld. “Its coming to fruition validates our shared vision for choosing Crescent Beach for Hyatt Siesta Key Beach.” The resort features 44 fully furnished residences with thirteen different floorplans and living space ranging from 1,865 to 2,920 square feet. Each residence features extraordinarily high-end finishes — including Wolf, Sub-Zero and Fisher & Paykel appliances. Other furnishings include custom furniture and décor, lavish linens and Lube Italian cabinetry throughout.
Hyatt Siesta Key Beach was built by Sarasota-based Tandem Construction. Over 500 construction workers, craftsmen, tradesmen, landscapers and laborers contributed to building the resort. The project was completed with equity provided by private equity firm The Carlyle Group. Hyatt Siesta Key Beach was completed in thirteen months and infused approximately $100 million into the local economy.
Luxury fractional ownership at Hyatt Siesta Key Beach provides owners with as much time as is typically spent at a wholly-owned second home, but with the added benefits of on-site property management by a luxury brand, the style of service and amenities luxury buyers expect and travel opportunities to 14 other Hyatt Residence Club and Hyatt Vacation Club properties* as well as over 380 Hyatt hotels worldwide with Hyatt Gold Passport™**.
For a limited time, pricing at Hyatt Siesta Key Beach begins at $135,700 for a 1/16 share (three weeks). Also available are 1/8 shares (six weeks). Ownership at Hyatt Siesta Key Beach includes Cabana Club privileges which provide owners 365-day access to resort amenities (subject to Cabana Club rules and regulations). Residences are deeded and may be passed along to future generations. Hyatt Siesta Key Beach should be seen in person to fully appreciate the experience. Visit at www.HyattSiestaKeyBeach.com.
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