Blackstone (
NYSE:
BX
) is holding talks to purchase Sunseeker Resort, which belongs to Allegiant Travel (
NASDAQ:
ALGT
), Bloomberg News reported, citing people with knowledge of the matter.
The talks between the two firms are ongoing, and they could fall apart, the people said, asking for anonymity as information hasn’t been made public. Details about a potential deal size were not available.
A little over a month ago, the private equity firm registered multiple entities such as Sunseeker Resort Owner LLC with the Florida Division of Corporations.
The 785-room resort, constructed in 2023 with an investment of $720 million in Port Charlotte, Florida, has proven to be a financial burden for Allegiant.
NASDAQ:
ALGT
) finances because of construction delays caused by the pandemic and damage from hurricanes.
In July 2024, Allegiant, who owns Allegiant Airlines, enlisted the help of Prospect Hotel Advisors, an expertise in hospitality asset management, to carry out a comprehensive strategy assessment of their newly constructed hotel as part of efforts to expand into new business areas.
away from travel services.
Further details about Blackstone, Allegiant Travel Company
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