Allegiant Travel Co to sell Sunseeker Resort in Florida this summer
Allegiant Travel Co is set to sell its Sunseeker Resort in Florida this summer, with interest from several reputable investors, as the resort has struggled financially.
Allegiant Travel Co. is preparing to finalize the sale of its challenged Sunseeker Resort this summer, following expressions of interest from potential buyers. The company’s CEO, Greg Anderson, described the interested investors as “well-known, high-quality.”
A “high-single digit” number of investors are currently evaluating the possibility of making a bid for the Port Charlotte, Florida resort. Anderson shared this information during a quarterly conference call on Tuesday.
Allegiant, the parent company of Allegiant Airlines, initiated the sale process by hiring advisers in July to facilitate the transaction of at least part of the $720 million resort. The 785-room property has faced significant issues, being constructed over budget and four years behind schedule, and it has struggled to generate sufficient returns.
