Allegiant completes $200 million sale of Sunseeker Resort

Allegiant Travel Company completed the sale of its Sunseeker Resort at Charlotte Harbor, Aileron Golf Course, as well as related properties with affiliates of Blackstone Real Estate Group. 

Allegiant said in an SEC filing on September 4, 2025, it received cash proceeds of $200 million. The company expects to use the proceeds of the transaction to pay down corporate debt and for other general corporate purposes. 

The deal with Blackstone was first disclosed earlier in summer. 

The company said February it was looking to sell its Sunseeker Resort after a poor fourth quarter 2024 result. Net losses widened $2 million to $216.2 million. Operating expenses soared 48.5% to $891.7 million, while revenues climbed only 2.7% to $627.7 million.

The company's resort recorded an operating loss of $382.2 million for the year and $30.5 million for the quarter. Revenues for the resort totalled $71.8 million in the year and only $2.9 million for the quarter. Expenses for the resort far outweighed revenues, with full year expenses totalling $453.9 million and $33.4 million for the quarter.

“We have launched a competitive process to sell at least a majority interest in the resort and are reviewing promising indications of interest from several investors,” said Allegiant Travel Company CEO and president Gregory Anderson during its earnings call in February. “Given the uncertainty around the timing of any potential transaction, we will only be providing guidance for Sunseeker on a quarterly basis. That said, we expect the property will earn positive EBITDA of $2 million during the first quarter, a nearly $7 million EBITDA swing compared to the same quarter in 2024.”

Anderson said in the call that it had received “promising” interest from “well-known high-quality investors”. The company expects a transaction to be secured by summer. “If all went well, it could be early summer,” said Anderson.