Allegiant Travel, parent of Allegiant Air (G4, Las Vegas Harry Reid), and the private equity firm Blackstone are reportedly in negotiations for the sale of the Sunseeker Resort Charlotte Harbor, a hotel located in southwestern Florida owned by the travel group, which has been a financial black hole for the company.
First reported by Bloomberg, the talks between the two firms are ongoing, and nothing has been decided. The amount for which the resort could be sold was not disclosed.
In July 2024, Allegiant hired hospitality asset management firm Prospect Hotel Advisors to conduct a strategic review of the hotel and maximise its value. Prospect Hotels Advisors was listed as an advisor to Blackstone and other private equity and real estate funds.
ch-aviation has reached out to Allegiant Air for comment.
Unveiled in 2017 and opened to the public in 2023 (a three-year delay due to the pandemic), the resort features 785 guestrooms and has about 60,000 square feet (5,574 square metres) of meeting and event space. Greg Anderson, the company’s chief executive, said in 2024 that the focus was on multiple parallel paths for the resort - one was optimising it, another was seeking a distribution partner, and the third was gaining a strategic capital partner.
Meanwhile, Robert Neal, chief financial officer, estimated the book-value of the resort at around USD600 million at the end of the third quarter of 2024.
