Allegiant Air's Florida hotel venture struggles and sells

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.