Blackstone Pays $200M for Charlotte Harbor Resort

Blackstone (NYSE: BX) acquired Sunseeker Resort Charlotte Harbor from Allegiant Travel Company (NASDAQ: ALGT) for $200 million. Allegiant Travel is the holding company that owns the airline with the same name. Blackstone’s Scott Trebilco 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 says it plans to use the proceeds from the sale to repay debt and strengthen its balance sheet.

With 785 rooms spanning 22 waterfront acres on the Gulf Coast of Florida, Sunseeker Resort Charlotte Harbor is a 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.

Barclays served as financial advisor to Allegiant on this transaction.