Its coming to fruition validates our shared vision for choosing Crescent Beach for Hyatt Siesta Key Beach.
Sarasota, FL (PRWEB) August 8, 2009
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 http://www.HyattSiestaKeyBeach.com .
*Subject to Hyatt Vacation Club Rules & Regulations
**Subject to Hyatt Gold Passport™ frequent guest program terms and conditions
About The Carlyle Group:
Established in 1987, The Carlyle Group is a private global investment firm that originates, structures and acts as lead equity investor in management-led buyouts, strategic minority equity investments, equity private placements, consolidations and buildups, and growth capital financings. The company is one of the world's largest private equity firms, with more than $84.5 billion under management. With 64 funds across four investment disciplines (buyouts, growth capital, real estate and leveraged finance), Carlyle combines global vision with local insight, relying on a top-flight team of 495+ investment professionals operating out of offices in 20 countries to uncover superior opportunities in North America, Europe, Asia, Australia, the Middle East/North Africa and Latin America. More than 1,300 investors from 71 countries entrust Carlyle with their capital and their reputations. As one means of aligning its own interests with those of its Limited Partner investors, Carlyle has committed more than $3.6 billion of its own capital to its funds.
About Hyatt Hotels Corporation:
Hyatt Hotels Corporation, headquartered in Chicago, is a leading global hospitality company with a proud heritage of making guests feel more than welcome. Thousands of members of the Hyatt family in 45 countries strive to make a difference in the lives of the guests they encounter every day by providing authentic hospitality. The company's subsidiaries manage, franchise, own and develop hotels and resorts under the Hyatt®, Park Hyatt®, Andaz™, Grand Hyatt®, Hyatt Regency®, Hyatt Place® and Hyatt Summerfield Suites™ brand names and have locations under development on five continents. Hyatt Vacation Ownership, Inc., a Hyatt Hotels Corporation subsidiary, develops and operates vacation ownership properties under the Hyatt Vacation Club® and Hyatt Residence Club® brands. As of June 30, 2009, the company's worldwide portfolio consisted of 413 properties. For more information, please visit http://www.hyatt.com.