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Texas High-Roller Takes $300,000 Stake in Hyatt Development

BRECKENRIDGE, CO-An unidentified Texan lays out more than $300,000 for a modified time-share deal that guarantees him double the days, including the weeks before and after Christmas. His purchase has put sales at $4.5 million on the first day the marketing office opened for Hyatt Main Street Station, situated in the heart of a popular ski village.

By John Rebchook | Updated on August 22, 2000

A man from Texas is paying slightly more than $300,000 for a fractional ownership in the $40 million Hyatt Main Street Station development under construction in the heart of a ski village 60 miles west of Denver.

The unidentified Texan is shelling out the most recorded for a fractional ownership, which is a new form of the time-share concept. A total of 77 shares have been snapped up, realizing $4.5 million – selling half of the 42 available units on the first day the sales office opened. The remaining units will remain up for sale until Sept. 1, with East West planning to market another block in November, says Bill Fiveash, Hyatt Main Street’s development head. Fractional shares range from $19,000 to $300,00 per unit.

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