Allegiant Travel Co., headquartered in Las Vegas, has agreed to sell its Sunseeker Resort Charlotte Harbor to investment giant Blackstone in a $200 million deal announced on July 7. The sale is expected to close in the third quarter of 2025, subject to standard closing conditions.
Sunseeker Resort, located on a 22-acre waterfront site in Charlotte County, Florida, officially opened its doors in December 2023. The 785-room luxury resort took years to complete, with development costs exceeding $700 million. With this sale, Allegiant is exiting the hospitality space to sharpen its focus on its core airline business.
Blackstone, known globally for its expansive real estate investments, manages $320 billion in investor capital and holds the distinction of being the largest commercial real estate owner in the world. The firm’s real estate division, established in 1991, includes investments in logistics, data centers, residential, office, and hospitality sectors across top markets. Through its Blackstone Real Estate Income Trust and Blackstone Mortgage Trust, the company targets both value-add opportunities and stable, income-producing assets. “This acquisition highlights our strong belief in the hospitality and travel sectors,” said Scott Trebilco, senior managing director at Blackstone Real Estate. “Allegiant has developed a first-class resort, and we’re excited to bring our expertise to Sunseeker.”
Allegiant CEO Gregory C. Anderson stated that the sale will help improve the company’s financial position. “Blackstone’s deep experience in hospitality and their operational strengths make them an excellent partner for this transaction,” he said. “The proceeds from the sale will support our airline-focused strategy and be used to pay down debt.”
Construction on the Sunseeker Resort began in 2019, following Allegiant’s $30 million land purchase. Originally slated to open in 2020, the project faced numerous delays due to the COVID-19 pandemic, hurricane-related damages totaling $35 million, and a construction fire in 2023. Despite launching with upscale offerings — including 20 food and beverage venues, a rooftop lounge, a championship golf course, and 60,000 square feet of meeting space — the resort fell short of financial goals. It recorded a 54% occupancy rate in Q4 2024, which rose to 60% in early 2025.
Local leaders viewed Sunseeker as a critical part of Charlotte County’s post-Hurricane Ian recovery. The resort helped replace 250 lost hotel rooms and contributed to increased tourism tax revenue, according to county Tourism Director Sean Doherty.
In late 2024, Allegiant recorded a $321.8 million impairment on the property and hired Prospect Hotel Advisors to assess strategic alternatives, ultimately leading to the decision to sell.