Blackstone is set to acquire Sunseeker Resort Charlotte Harbor from Allegiant Travel Company for $200 million, bolstering its hospitality portfolio.

Target Information

Blackstone (NYSE: BX) and Allegiant Travel Company (NASDAQ: ALGT) have entered into an agreement for Blackstone Real Estate funds to acquire the Sunseeker Resort Charlotte Harbor from Allegiant for $200 million. This burgeoning resort encompasses 785 rooms and stretches across 22 scenic waterfront acres along Florida's Gulf Coast. It boasts a suite of core amenities, such as multiple dining options, two swimming pools, a spa, a fitness facility, a rooftop adults-only pool and bar, a championship golf course, and over 60,000 square feet of versatile indoor meeting space.

Industry Overview

The hospitality sector in Florida has shown significant growth in recent years, bolstered by a consistent influx of tourists. The state remains a top destination for both vacationers and business travelers, driven by its diverse attractions ranging from beautiful beaches to theme parks and convention centers. With the state hosting millions of visitors annually, the demand for upscale accommodations continues to rise.

Furthermore, Florida's Gulf Coast has emerged as a preferred locale for group-oriented travel, appealing to both corporate events and leisure retreats. The area’s favorable