B
lackstone Real Estate has agreed to purchase the Sunseeker resort in Charlotte Harbor for $200 million. The deal, announced on Monday, involves the allocation of funds from Blackstone to acquire the property. This comes after Allegiant Travel Company initially announced plans to sell the resort during its 2024 fourth-quarter earnings call.
The resort faced significant challenges since opening, including a budget overrun of over $225 million and damages totaling $5.7 million due to hurricanes Helene and Milton last fall. Despite these setbacks, the property reported a 54% occupancy rate in the fourth quarter with an average daily rate of $238 per night.
According to Blackstone's Senior Managing Director Scott Trebilco, "The acquisition of this brand new resort demonstrates our confidence in hospitality and travel, particularly in group-oriented destinations." The transaction is expected to close in the third quarter of 2025, subject to customary conditions.
