July 7, 2025
— Jeff Ward, Lehigh Valley News Briefs
Allegiant, the discount airline that takes Lehigh Valley residents to the Sunbelt and other resort locations, is selling its Sunseeker Resort Charlotte Harbor for $200 million.
Blackstone, a global real estate company, will acquire the 785-room resort on Florida’s Gulf Coast. Allegiant will use the proceeds to pay debt and improve its balance sheet.
Las Vegas-based Allegiant (NASDAQ:ALGT) and Blackstone (NYSE:BX) announced the transaction today. Allegiant carries more passengers than other airlines the serving Lehigh Valley International Airport: Delta, American and United.
Sunseeker has two pools, a spa, fitness center, rooftop pool and bar along with a golf course and 60,000 feet of indoor meeting space.
Allegiant Chief Executive Officer Gregory C. Anderson said the sale “supports Allegiant’s strategy centered around the airline and we plan to use the proceeds from the sale to repay debt and strengthen our balance sheet.”
Blackstone is based in New York and operates globally.
Shares of Allegiant traded at $56.92 as of 9:42 a.m. today, and shares of New York-based Blackstone
Allegiant’s market capitalization is about $1.1 billion, while Blackstone is valued at $187.5 billion.
Here is a link to the joint statement and below is a cut-and-paste version:
Blackstone Real Estate to Acquire Sunseeker Resort Charlotte Harbor from Allegiant Travel Company for $200 Million
07/07/2025
NEW YORK and LAS VEGAS, July 7, 2025 /PRNewswire/ — Blackstone (NYSE: BX) and Allegiant Travel Company (NASDAQ: ALGT) today announced that funds affiliated with Blackstone Real Estate have agreed to acquire Sunseeker Resort Charlotte Harbor from Allegiant for $200 million.
With 785 rooms spanning 22 waterfront acres on the Gulf Coast of Florida, Sunseeker Resort Charlotte Harbor is a brand-new resort with extensive core amenities, including multiple food and beverage concepts, two pools, a spa, a fitness center, a rooftop adult pool and bar, a championship golf course and more than 60,000 square feet of combined indoor meeting space.
Scott Trebilco, Senior Managing Director at Blackstone Real Estate, said: “The acquisition of this brand new, highly-amenitized resort demonstrates our strong conviction in hospitality and travel and the continued growth in group-oriented destinations. Allegiant has built a fantastic property and we look forward to bringing our extensive experience with large scale resorts to Sunseeker.”
“Blackstone’s extensive hospitality holdings and their execution capabilities make them the ideal counterparty for this transaction and also to help realize the full potential of Sunseeker Resort,” said Gregory C. Anderson, CEO at Allegiant Travel Company. “Furthermore, it supports Allegiant’s strategy centered around the airline and we plan to use the proceeds from the sale to repay debt and strengthen our balance sheet.”
Barclays served as financial advisor to Allegiant on this transaction.
The transaction is expected to close in the third quarter of 2025, subject to satisfying customary conditions.
About Blackstone Real Estate
Blackstone is a global leader in real estate investing. Blackstone’s real estate business was founded in 1991 and has US $320 billion of investor capital under management. Blackstone is the largest owner of commercial real estate globally, owning and operating assets across every major geography and sector, including logistics, data centers, residential, office and hospitality. Our opportunistic funds seek to acquire undermanaged, well-located assets across the world. Blackstone’s Core+ business invests in substantially stabilized real estate assets globally, through both institutional strategies and strategies tailored for income-focused individual investors including Blackstone Real Estate Income Trust, Inc. (BREIT). Blackstone Real Estate also operates one of the leading global real estate debt businesses, providing comprehensive financing solutions across the capital structure and risk spectrum, including management of Blackstone Mortgage Trust (NYSE: BXMT).
Allegiant – Together We Fly™
Las Vegas-based Allegiant (NASDAQ: ALGT) is an integrated travel company with an airline at its heart, focused on connecting customers with the people, places and experiences that matter most. Since 1999, Allegiant Air has linked travelers in small-to-medium cities to world-class vacation destinations with all-nonstop flights and industry-low average fares. Today, Allegiant serves communities across the nation, with base airfares less than half the cost of the average domestic roundtrip ticket. For more information, visit us at Allegiant.com. Media information, including photos, is available at http://gofly.us/iiFa303wrtF
Lehigh Valley News Briefs 