Blackstone Real Estate to Acquire Sunseeker Resort Charlotte Harbor from Allegiant Travel Company for $200 Million

Rhea-AI Summary

Allegiant Travel Company (NASDAQ: ALGT) has announced the sale of its Sunseeker Resort Charlotte Harbor to Blackstone Real Estate (NYSE: BX) for $200 million. The transaction involves a newly-built resort featuring 785 rooms across 22 waterfront acres on Florida's Gulf Coast.

The resort includes extensive amenities such as multiple dining venues, two pools, a spa, fitness center, rooftop adult pool and bar, a championship golf course, and over 60,000 square feet of indoor meeting space. Allegiant plans to use the proceeds to repay debt and strengthen its balance sheet. The deal is expected to close in Q3 2025, subject to customary conditions.

Positive

• Sale price of $200 million provides significant capital for debt reduction
• Strategic focus on core airline business through asset divestiture
• Balance sheet improvement through debt repayment
• Clean exit from non-core hospitality business

Negative

• Loss of potential revenue stream from hospitality operations
• Exit from diversification strategy into hospitality sector

NEW YORK and LAS VEGAS, July 7, 2025 /PRNewswire/ -- Blackstone (NYSE: BX) and Allegiant Travel Company (NASDAQ: ALGT) today announced that funds affiliated with Blackstone Real Estate have agreed to acquire Sunseeker Resort Charlotte Harbor from Allegiant for $200 million.

With 785 rooms spanning 22 waterfront acres on the Gulf Coast of Florida, Sunseeker Resort Charlotte Harbor is a brand-new resort with extensive core amenities, including multiple food and beverage concepts, two pools, a spa, a fitness center, a rooftop adult pool and bar, a championship golf course and more than 60,000 square feet of combined indoor meeting space.

Scott Trebilco, Senior Managing Director at Blackstone Real Estate, said: "The acquisition of this brand new, highly-amenitized resort demonstrates our strong conviction in hospitality and travel and the continued growth in group-oriented destinations. Allegiant has built a fantastic property and we look forward to bringing our extensive experience with large scale resorts to Sunseeker."

"Blackstone's extensive hospitality holdings and their execution capabilities make them the ideal counterparty for this transaction and also to help realize the full potential of Sunseeker Resort," said Gregory C. Anderson, CEO at Allegiant Travel Company. "Furthermore, it supports Allegiant's strategy centered around the airline and we plan to use the proceeds from the sale to repay debt and strengthen our balance sheet."

Barclays served as financial advisor to Allegiant on this transaction.

The transaction is expected to close in the third quarter of 2025, subject to satisfying customary conditions.

About Blackstone Real Estate
Blackstone is a global leader in real estate investing. Blackstone's real estate business was founded in 1991 and has US $320 billion of investor capital under management. Blackstone is the largest owner of commercial real estate globally, owning and operating assets across every major geography and sector, including logistics, data centers, residential, office and hospitality. Our opportunistic funds seek to acquire undermanaged, well-located assets across the world. Blackstone's Core+ business invests in substantially stabilized real estate assets globally, through both institutional strategies and strategies tailored for income-focused individual investors including Blackstone Real Estate Income Trust, Inc. (BREIT). Blackstone Real Estate also operates one of the leading global real estate debt businesses, providing comprehensive financing solutions across the capital structure and risk spectrum, including management of Blackstone Mortgage Trust (NYSE: BXMT).

Allegiant – Together We Fly™

Las Vegas-based Allegiant (NASDAQ: ALGT) is an integrated travel company with an airline at its heart, focused on connecting customers with the people, places and experiences that matter most. Since 1999, Allegiant Air has linked travelers in small-to-medium cities to world-class vacation destinations with all-nonstop flights and industry-low average fares. Today, Allegiant serves communities across the nation, with base airfares less than half the cost of the average domestic roundtrip ticket. For more information, visit us at Allegiant.com. Media information, including photos, is available at http://gofly.us/iiFa303wrtF

Contacts
Blackstone
Jeffrey Kauth
212-583-5395
Jeffrey.Kauth@blackstone.com

Media Contact
Phone: 702-800-2020
Email: mediarelations@allegiantair.com

 

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SOURCE Allegiant Travel Company

FAQ

How much is Blackstone paying for Allegiant's Sunseeker Resort?

Blackstone Real Estate is acquiring Sunseeker Resort Charlotte Harbor for $200 million from Allegiant Travel Company.

When will the Allegiant-Blackstone Sunseeker Resort deal close?

The transaction is expected to close in the third quarter of 2025, subject to customary closing conditions.

What will Allegiant (ALGT) do with the proceeds from the Sunseeker Resort sale?

Allegiant plans to use the proceeds from the $200 million sale to repay debt and strengthen its balance sheet.

What are the key features of Sunseeker Resort Charlotte Harbor?

The resort features 785 rooms across 22 waterfront acres, multiple restaurants, two pools, a spa, fitness center, rooftop adult pool and bar, championship golf course, and over 60,000 square feet of indoor meeting space.

Why is Allegiant selling Sunseeker Resort to Blackstone?

The sale aligns with Allegiant's strategy to focus on its core airline business, while partnering with Blackstone due to their extensive hospitality experience and execution capabilities.