Allegiant Air's Florida hotel venture struggles and sells

qz.com

Allegiant Air's Sunseeker Resort in Charlotte Harbor, Florida, is now up for sale after struggling since its December 2023 opening. The resort faced multiple setbacks, including construction delays and damage from hurricanes, leading to significant financial losses. Despite a slight increase in occupancy and room rates, the resort recorded a $321.8 million impairment charge in late 2024. Allegiant plans to focus on its core airline business, moving away from the costly hotel venture. The resort's luxury positioning has not resonated with the local market, which is more working-class. Potential buyers may find value in the property, but it will require operational improvements to succeed.


With a significance score of 2.1, this news ranks in the top 42% of today's 17344 analyzed articles.

Get summaries of news with significance over 5.5 (usually ~10 stories per week). Read by 9000 minimalists.


More on this topic:

    [2.4]
    Australian casinos face declining profits and regulatory changes (theconversation.com)
    24h
    [2.2]
    Berkshire Hathaway may sell real estate business (cnbc.com)
    1d 9h
    [2.1]
    Allegiant Air's Florida hotel venture struggles and sells (qz.com)
    11h
    [2.1]
    Clearwater Analytics enhances services for future growth (seekingalpha.com)
    1h
    [2.0]
    RH stock drops 50%, analysts warn against investment (seekingalpha.com)
    1d 10h
    [1.6]
    Amelia Island shifts from blue-collar to luxury community (dailymail.co.uk)
    1d 7h
    [1.6]
    Alaska Airlines boosts flights to Las Vegas, Phoenix (simpleflying.com)
    11h
    [1.5]
    Raleigh Hotel in Miami Beach plans $1 billion renovation (nypost.com)
    3h
    [1.3]
    Bally's offers Bronx residents casino ownership shares (nypost.com)
    3h
    [1.3]
    24 homes sold in Atlantic County last week (nj.com)
    3h