# Hyatt Siesta Key Resort



## gjhardt (Jan 1, 2012)

I really want to rent here for Christmas next year so I can be with my new grandchild that is due in March 2011.  Is there a site where Hyatt owners rent directly?  I have been searching on II but have never seen even 1 unit.

Thanks for any suggestions - I know it will be pricey but looks great.


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## bdh (Jan 1, 2012)

gjhardt said:


> I really want to rent here for Christmas next year so I can be with my new grandchild that is due in March 2011.  Is there a site where Hyatt owners rent directly?  I have been searching on II but have never seen even 1 unit.
> 
> Thanks for any suggestions - I know it will be pricey but looks great.



I've seen the inquiry of a Hyatt site where owners rent their week a time or two here on TUG, but I don't know that I've ever seen a reply with an answer.  

Not sure if that means there isn't one or just that no one has responded with its location??


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## NerdAlert (Jan 1, 2012)

Just out of curiosity, we looked at the Hyatt Vacation Club website where owners can rent at a discount. They have plenty of rooms, from $3700-$4400per week. (12/22/12-12/29/12) Prices are actually not that bad considering the phenomenal property and ultra-high demand week. We've been there about 4 times...Absolutely incredible!!


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## Kal (Jan 2, 2012)

gjhardt said:


> I really want to rent here for Christmas next year...


 
Don't even think about getting into that property unless you have mega-bucks for rental.  The $4400 per week rates are definitely not for the Christmas week.  Those weeks go for much, much higher rates, IF you can even find one.  Trades of any sort are out of the question.


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## heathpack (Jan 2, 2012)

Kal said:


> Don't even think about getting into that property unless you have mega-bucks for rental.  The $4400 per week rates are definitely not for the Christmas week.  Those weeks go for much, much higher rates, IF you can even find one.  Trades of any sort are out of the question.




???  What makes you say that ????

I also just checked HVC website.  There are many permutations of Christmas week available $3600-$4400, 2BR, 7 nights. 

It looks like a direct rental through Hyatt might be the way to go.

H


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## ra34 (Jan 2, 2012)

*Developer Inventory*



heathpack said:


> ???  What makes you say that ????
> 
> I also just checked HVC website.  There are many permutations of Christmas week available $3600-$4400, 2BR, 7 nights.
> 
> ...



This is probably excess developer inventory - they have sold only one fractional for week 50/51. There are only 11 fractional units. It seems they will let you pay for that time via HVC but not use your points. Maybe there hope is someone will stay those weeks and love it. They are starting to sell the units now that prices have been adjusted - just came across this article.

http://insiderealestate.heraldtribune.com/2011/12/29/units-start-selling-at-hyatt-siesta-key-beach/


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## Twinkstarr (Jan 2, 2012)

I think if Hyatt Siesta Key ever shows up in II, it will be a hurricane season week.

I have a resort that I am fond of, that is mostly whole ownership or 1/8 fractionals, trades in II. I've talked to realtors who handle the resort(and one owns units) just to figure out how owners use their weeks. Most of the whole ownership group have not joined in ther resort program to rent and use II. They use their units and rent them out via VRBO. 

In the one "area" there is one owner who will take a small cut (5%) to list your unit on VRBO.


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## suzannesimon (Jan 2, 2012)

Anyone can list their properties on VRBO.  I found out that it works much better for full ownership, however.  I listed one of my Marriotts there and it drove me crazy because no matter how many ways you say it is a timeshare and enter the available dates, the shoppers are emailing and  calling you asking for different weeks.  Fewer calls on Redweek, but at least the shoppers "get" it.  VRBO ads start at $199 per property per year, so depending on the
Rental price, having a realtor do it for you might be cheaper.


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## tahoeJoe (Jan 3, 2012)

Kal said:


> The $4400 per week rates are definitely not for the Christmas week.  Those weeks go for much, much higher rates,



Seriously, in this economy? Who has that kind of money?


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## mwwich (Jan 3, 2012)

tahoeJoe said:


> Seriously, in this economy? Who has that kind of money?



There is a lot of wealth in this country (and others) that can afford what they want when they want.  There is a market for these weeks.


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## bdh (Jan 3, 2012)

NerdAlert said:


> Just out of curiosity, we looked at the Hyatt Vacation Club website where owners can rent at a discount. They have plenty of rooms, from $3700-$4400per week. (12/22/12-12/29/12)





heathpack said:


> I also just checked HVC website.  There are many permutations of Christmas week available $3600-$4400, 2BR, 7 nights. It looks like a direct rental through Hyatt might be the way to go.



A direct rental for an HRC owner is an option - but not for the OP (since he was looking for an II trade, it doesn't sound like he's an HRC owner). The discounted rentals can only be obtained by HRC owners - and they don't do guest certificates for nightly rentals.  IE: name at time of rental has to be a deeded HRC owner name and also has to match at check in.


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## heathpack (Jan 4, 2012)

bdh said:


> A direct rental for an HRC owner is an option - but not for the OP (since he was looking for an II trade, it doesn't sound like he's an HRC owner). The discounted rentals can only be obtained by HRC owners - and they don't do guest certificates for nightly rentals.  IE: name at time of rental has to be a deeded HRC owner name and also has to match at check in.



Did not know that.  A shame for the OP.  He/she can always get a 3BR unit and invite some lucky HVC owner along....

H


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## Sullco2 (Jan 5, 2012)

*Whole ownership will prevail at Siesta Key*

I don't think the fractional units will continue to sell.  The whole ownership units will sell and I believe that the investors don't want to prolong the sales program.  Unless the inventory has been "spoiled" by selling intervals in every unit, I predict the investors will unwind the remaining fractional inventory and "reconstitute" it into whole ownership.

The w/o owners don't care about the rental income and don't care much about the rest of HRC, so it will not be available much to other HRC owners in other properties.

I have been wrong before, so let's see.


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## bdh (Jan 6, 2012)

Sullco2 said:


> I don't think the fractional units will continue to sell.  The whole ownership units will sell and I believe that the investors don't want to prolong the sales program.  Unless the inventory has been "spoiled" by selling intervals in every unit, I predict the investors will unwind the remaining fractional inventory and "reconstitute" it into whole ownership.



Hyatt modified their development model of the basic TS product years ago when they headed into fractional units with the Colorado properties (since mud season units are difficult to sell, fractional was the ideal product in Colorado).  The development model adjustment continued with the planned mixed hotel, TS and fractional properties of Hawaii and Manhattan - while the construction of the Hawaii TS/fractional units were never added to the existing hotel property, Manhattan's construction was completed but they never rolled out the TS/fractional units (since it is a small number of units, they just turned them over to the hotel side to rent on a nightly basis for now).  The migration continued with the development of new fractional properties like Northstar and HSK.   Throw in the recent acquirement of The Blue and Escala Lodge whole ownership properties and the recent inclusion of fractional sales at these properties, the direction is pretty obvious to see.  The public name change from Hyatt Vacation Club to Hyatt Residence Club a year ago was just a continuation of the change in direction. 

Since it takes considerable time (years) to develop a new property from concept to completion and the economy was heading south as construction of Northstar and HSK was wrapping up, only a portion of the total units at each property were released for sale as fractional.  By holding back the sale of the remaining units, it makes it easy to adjust the model to whole ownership on the remaining unreleased units.  By reading the last paragraph of page 1 and the first paragraph of page 2 of the public records, you can see that only 11 of the 44 HSK units are fractional - the remaining 33 can be sold as fractional or whole ownership as demand dictates.  http://www.clerk.co.sarasota.fl.us/oprapp/cache/2011138265.pdf   At the moment, demand is for 2 whole ownership units, so that is what they supplied. 

With as unpredictable as the future economy is, the time tested concept of supply and demand would say that all of Hyatt's future development plans would be a mixture of ownership types and include the ability to adjust the type as demand dictates.  No reason to think that all of the Caribbean projects being considered at this point in time are anything other than a mixture and the final outcome is a TBD.


REVISED LINK PATH

In order to view the public records document you'll need to access Sarasota County's search page first at http://www.clerk.co.sarasota.fl.us/oprapp/oprinq.asp then enter 2011138265 into the left "instrument number from" box and hit search - when the next page loads, click the "image" link at the right side.


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