Prices Going Down on New Hyatt Beach Fractionals near Sarasota

The Hyatt Siesta Key Beach, a 44 unit, $100-million fractional ownership resort now under construction has lowered its prices significantly in a move to find buyers in the moribund Florida economy, the Sarasota Herald Tribune has reported. Some units sold in six-week segments that were priced last year ranging from $250,000 to $750,000 have been reduced to a starting level of $150,000.

Hyatt acknowledges it's a response to market demand -- or non-demand, as the case may be."Our new pricing reflects a superior product at a fraction of the cost of what is selling in today's market," said David Lehrman, director of sales and marketing for the resort. "It allows people to be fiscally conservative and responsible without giving up the luxury they have come to expect." He said four segments had been sold with the reduced price tag.