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A New Price for Luxury on Siesta Key
February 25, 2009 by Fractional Property Ownership, Timeshare & Luxury Travel Magazine · Leave a Comment
After a four-month proactive market analysis of luxury beachfront real estate, Hyatt Siesta Key Beach has taken a bold step in redefining the price of luxury. The 44-residence luxury fractional ownership resort announced today it will offer significantly adjusted pricing for early buyers. Residences will now be offered starting at the low $100, 000’s to the mid $300,000’s.
“Pricing for the resort reflects 2008 luxury real estate values,” said David Lehrman, Director of Sales and Marketing for Hyatt Siesta Key Beach. “We have adjusted our initial pricing so that we are able to deliver a product that has superior construction, more square footage, custom furniture and décor, luxury services and amenities, and on-site world-class property management.”
Lehrman says that owning at Hyatt Siesta Key Beach will appeal to buyers who in the past may have been looking for a luxury second home, but are now more interested in a value proposition. “Our new pricing reflects a superior product at a fraction of the cost of what is selling in today’s market; it allows people to be fiscally conservative and responsible without giving up the luxury they have come to expect,” said Lehrman. “Prospects we have previously spoken to are responding to our revised first phase pricing. We sold four the first week.”
Luxury fractional ownership at Hyatt Siesta Key Beach provides owners with up to six weeks of vacation 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 other Hyatt Residence Club properties as well as Hyatt Hotels & Resorts® worldwide. Hyatt Siesta Key Beach will open early Summer 2009. For more information about Hyatt Siesta Key Beach, visit www.hyattsiestakeybeach.com, or call 941.953-8160.
About Hyatt Siesta Key Beach:
Hyatt Siesta Key Beach is a first of its kind luxury fractional ownership resort in Sarasota, Florida. The beachfront resort will feature a boutique collection of 44 designer-furnished residences. Residences will include luxury brands such as Wolf, Sub Zero and Fisher Paykel. Other finishes will include custom furniture and décor, Italian-crafted kitchen and bathroom cabinetry and lavish linens. Ownership at Hyatt Siesta Key Beach includes 365-day Cabana Club privileges*. Initial release is 1/8 (six weeks) and 1/16 (three weeks) fractions with early buyer incentive pricing starting at just under $150,000. An early summer 2009 opening is planned. Visit www.hyattsiestakeybeach.com.
Hyatt Siesta Key Beach is Hyatt Vacation Ownership’s 15th luxury resort property. Other resorts are in Key West and Bonita Springs, FL; Carmel and Truckee, 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.
*subject to Cabana Club rules and regulations
About Global Hyatt Corporation:
Global Hyatt Corporation, headquartered in Chicago, is one of the world’s premier hotel companies. The hotels owned, operated, managed or franchised by its subsidiaries provide authentic hospitality to guests in 45 countries through a passionate commitment to personalized service, cultural relevance, and the environment. Global Hyatt subsidiaries own, operate, manage or franchise more than 365 hotels and resorts worldwide under the Hyatt®, Hyatt Regency®, Hyatt Resorts™, Grand Hyatt®, Park Hyatt®, Hyatt Place®, Hyatt Summerfield Suites® and Andaz™ brands with additional properties under development on five continents. Global Hyatt Corporation is also the owner of Hyatt Vacation Ownership, Inc., operator of Hyatt Vacation Club®. The success of Global Hyatt is driven by the commitment and energy of the thousands of men and women around the world who provide exceptional service to hotel guests. From the U.S. and Canada, reservations for any Hyatt hotel worldwide may be obtained by calling 1-800-233-1234 or visiting www.hyatt.com.
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