# Hyatt Siesta Key



## wildcatsuk (Dec 31, 2009)

I realize the Hyatt Siesta Key just recently opened.  Has anyone seen any resales on this property?  If so, where and what was the pricing like?  I understand that the winter 1/16 interest (premium) is being sold by the developer for about $160,000.  Two weeks in winter and one week floating in summer.


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## bdh (Jan 5, 2010)

wildcatsuk said:


> I realize the Hyatt Siesta Key just recently opened.  Has anyone seen any resales on this property?  If so, where and what was the pricing like?  I understand that the winter 1/16 interest (premium) is being sold by the developer for about $160,000.  Two weeks in winter and one week floating in summer.



I think its too early to see any resale weeks yet.  From what I read 8 to 10 months ago, the 1/16 interest is actually a Summer set of weeks - they had a graduated price scale with the lowest at $149,500 to $161,000.  The Winter package of 1/8 interest (4 fixed and 2 float) ranged from $271,400 to $293,700 for the premium.


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## jimf41 (Jan 18, 2010)

If a resale comes up are they allowed to sell it by the week or do they have to sell by the bundled package the developer sold them?


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## ral (Jan 18, 2010)

jimf41 said:


> If a resale comes up are they allowed to sell it by the week or do they have to sell by the bundled package the developer sold them?



Excellent question. I also look forward to knowing the answer to this question.


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## sullco (Jan 23, 2010)

I just toured this property.  It is gorgeous--way over the top in size and finishes.

I don't have the definitive answer re: splitting weeks on resale, but it is possible that the offering plan will disclose that the weeks are individually registered--that is that there are deeds for each week.  If that's true, I doubt the developer could prevent you from selling them off one by one.

But what's the point?

If you spend the enormous amounts required to buy this Residence Club, you should do it as a total luxury with no other agenda than to enjoy it.  Trying to recoup money from resale or rental on any fractional or timeshare is a futile exercise.  It's spent, it's gone--enjoy the luxury.


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## jimf41 (Feb 4, 2010)

Actually my question about selling was geared to the marketing hype of calling it a "fractional". The property is nice but it only has 44 units. 22 of those have a nice view of the water. The other 22 have a nice view of the street in the back. I don't really understand the difference between a fractional and a timeshare except that in a fractional you have to buy multiple weeks to start. Not all of those weeks can be in the same season.

 I don't understand why you can sell them individually but you have to buy in a group. I guess at the price they charge  if you have to ask.....


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## sullco (Feb 4, 2010)

Fractionals and timeshares are similar in the sense that they are forms of partial ownership--one aspect of calling programs "fractionals" is PR.  The word timeshare is loaded with bad connotations.  But the reality is that fractionals are typically much higher quality properties in highly demanded destinations.

As far as Hyatt Siesta Key goes, the program there makes it tricky to secure Gulf-front units unless you pay up for the big ticket.  That's not typical of most fractionals.

There are different programs in fractionals--most of them do not allow longer stays, such as "snowbirds" being able to stay south in a 3-month fractional.  The fact that it would be very difficult to sell the remainder of the year as separate fractionals makes this not viable for the developer/seller.  There would be huge market for long stay fractionals if the price and the maintenance were indeed a quarter of the selling price as a whole ownership property.  It is just not going to happen.


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## rpk113 (Feb 12, 2010)

What do you think the odds are of exchanging into this resort?  Since it's pretty new, they probably have some excess inventory?  Maybe I am being to optomistic?


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## ral (Feb 12, 2010)

If you are a member of Hyatt Vacation Club, very slim. If you do not own a Hyatt timeshare, virtually nonexistent. The developer doesn't seem to be making excess inventory available to the Hyatt Vacation Club, much less depositing in Interval International. Perhaps when sales increase, members will release weeks into the Hyatt Vacation Club. It looks like all excess inventory is going to Hyatt.com at rack rates (no HVC discounts).


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