Blackstone Expands Hospitality Portfolio with $200M Florida Resort Acquisition

Blackstone Real Estate will acquire the 785-key Sunseeker Resort Charlotte Harbor in Florida for $200 million from Allegiant Travel Company. Despite past financial troubles, Blackstone sees growth potential in the group-oriented destination. Sunseeker Resort opened in December 2023 with various amenities and meeting spaces.

Allegiant faced financial issues following the resort’s opening, prompting the decision to sell. Despite optimistic long-term outlooks, Allegiant decided to focus on the airline business and sell the property. Blackstone’s extensive hospitality experience will help maximize the resort’s potential, according to CEO Greg Anderson.

Blackstone’s acquisition aligns with their hospitality strategy and belief in the growth of group travel. The transaction is set to close in the third quarter of this year. The firm has a portfolio of large-scale resort properties, including Hotel del Coronado in California and Kimpton Hotel Eventi in New York City.

Read more at Yahoo Finance: Blackstone acquires Florida resort from Allegiant for $200M