Allegiant, Blackstone in Talks to Sell Sunseeker Resort: Report
Allegiant Travel Company, parent of Allegiant Air, is reportedly in discussions with private equity firm Blackstone regarding the potential sale of its Sunseeker Resort Charlotte Harbor in southwest Florida. The resort has been a significant financial burden for the travel group since its development. The negotiations, first reported by Bloomberg, are ongoing, and no final decision or sale price has been confirmed.
Allegiant began exploring strategic options for the property in July 2024, hiring Prospect Hotel Advisors to evaluate ways to maximize the resort’s value. Prospect Hotel Advisors is also known to advise private equity and real estate funds, including Blackstone.
The resort was originally unveiled in 2017 but faced a three-year delay due to the COVID-19 pandemic before opening in 2023. Located along Charlotte Harbor, the Sunseeker Resort features 785 guestrooms and roughly 60,000 square feet of event and meeting space.
Allegiant CEO Greg Anderson stated in 2024 that the company was pursuing multiple parallel strategies for the resort, including operational optimization, securing a distribution partner, or attracting a strategic capital partner.
The resort’s book value was estimated at approximately USD 600 million at the end of Q3 2024, according to Allegiant CFO Robert Neal.
Allegiant has not publicly commented on the reported negotiations. If finalized, the sale could help the company reduce its financial exposure and refocus on its core airline operations while potentially bringing in new investment for the resort’s future.
Related News: https://airguide.info/category/air-travel-business/airline-finance/
Sources: AirGuide Business airguide.info, bing.com, ch-aviation.com