Blackstone Real Estate Funds To Acquire Sunseeker Resort Charlotte Harbor From Allegiant

(RTTNews) - Blackstone (BX) and Allegiant Travel Company (ALGT) 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.

"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. 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," said Gregory Anderson, CEO at Allegiant Travel Company.