Area leisure industry brokers tell GlobeSt.com on condition of anonymity Finova will probably be the lone bidder at the $24.3 million public foreclosure sale at the St. Johns County Courthouse in St. Augustine. Orlando-based Vistana WGV Ltd., owned by Starwood Vacation Ownership Inc., owes the debt.

Finova sued Vistana WGV Ltd. May 2 in St. Johns Circuit Court and won a foreclosure judgment June 7.

Starwood discontinued timeshare sales at the four-year-old property in August 2001 after disappointing customer traffic. The company was banking on a projected visitor count of one million per year at World Golf Village to generate timeshare unit sales. That number never materialized.

Starwood also had planned to grow the resort to 408 units in eight buildings. Prior to closing, the average price of a weekly timeshare unit was about $10,000, buyers tell GlobeSt.com on condition of anonymity. Their ownership weeks will not be affected by a change in ownership of the resort.

Starwood officials couldn't be reached at GlobeSt.com's publication deadline to learn the number of sales completed at the Sheraton Vistana. Starwood Vacation Ownership Inc. is owned by White Plains, NY-based Starwod Hotel and Resorts Worldwide Inc.

Starwood Vacation Ownership bought Orlando-based Vistana Resort in October 1999 and in July 2000, the Sheraton brand name was added to the Vistana name.

Orlando lawyer Ed Foster represents Finova.