Latest news with #SunseekerResort
Malaysian Reserve
08-07-2025
- Business
- Malaysian Reserve
ALLEGIANT AIR WASTES MILLIONS, STILL WON'T PAY PILOTS
Teamsters Call Out Airline for Misplaced Priorities and Stalled Negotiations WASHINGTON, July 8, 2025 /PRNewswire/ — Allegiant Air pilots represented by Teamsters Local 2118 are raising serious questions about Allegiant's leadership after the company this week sold its failed Sunseeker Resort while continuing to stall contract negotiations for 1,400 union pilots. The airline claims the sale of its unsuccessful hotel project signals a renewed focus on its core airline operations, but their actions tell a different story. 'Allegiant's executives have wasted billions on failed side hustles while refusing to fairly pay the pilots who actually keep this carrier in the air,' said Teamsters General President Sean M. O'Brien. 'Allegiant owes our members over $200 million in hard-earned retention bonuses. The Teamsters demand accountability and a fair contract now from this greedy, corruptible employer.' Allegiant pilots have been stuck in negotiations for over four years. While others across the airline industry have secured pay increases and improved working conditions in recent years, Allegiant has refused to pay industry standard wages and is asking pilots to make concessions on quality of life and scheduling issues. Since March 2021, Allegiant's market value has decreased by 78 percent, with a current market cap of $1.3 billion. The company lost $520 million on the sale of its ill-fated Sunseeker Resort, which is equal to over half of the company's current market value. The sale of the South Florida hotel follows a pattern of frivolous spending by the airline. With impractical ventures outside its core airline operations, from sports stadiums to luxury hotels and golf courses, Allegiant has burned millions of dollars on corporate pet projects. Corporate financial mismanagement has left the company ill-equipped to resolve outstanding contract negotiations for pilots, but the Teamsters continue to call on Allegiant to return to the bargaining table. 'Management at Allegiant has no ability to lead this company. They have no allegiance to the hardworking, dedicated pilots,' said Greg Unterseher, Teamsters Airline Division Director, Above-the-Wing. 'The Teamsters Union has zero confidence that Allegiant will bargain in good faith, but this company must be held to account. We demand they return to the table and end the disrespect of working people now.' Founded in 1903, the International Brotherhood of Teamsters represents over 1.3 million hardworking people in the U.S., Canada, and Puerto Rico. Visit for more information. Follow us on X @Teamsters and on Facebook at Contact:Lena Melentijevic, (347) 208-2279LMelentijevic@
Yahoo
08-07-2025
- Business
- Yahoo
Blackstone acquires Florida resort from Allegiant for $200M
This story was originally published on Hotel Dive. To receive daily news and insights, subscribe to our free daily Hotel Dive newsletter. Funds affiliated with Blackstone Real Estate will acquire the 785-key Sunseeker Resort Charlotte Harbor located along the Gulf Coast of Florida from Allegiant Travel Company for $200 million, according to a Monday news release. The sale comes after the resort faced financial woes last year following its opening, Allegiant leadership detailed during a Q2 2024 earnings call. During a Q1 earnings call earlier this year, Allegiant CEO Greg Anderson expressed intent to sell the resort by the end of the summer to focus on the company's airlines business. Despite its previous troubles, Sunseeker Resort Charlotte Harbor is poised to benefit from 'the continued growth in group-oriented destinations,' according to Scott Trebilco, senior managing director at Blackstone. The deal aligns with Blackstone's hospitality investment strategy. Blackstone's 'extensive hospitality holdings and their execution capabilities' will enable the firm to 'help realize the full potential of Sunseeker Resort,' Anderson said in a statement. Sunseeker Resort Charlotte Harbor opened in December 2023 on 22 acres. The resort offers 20 dining options and bars, two pools, a spa, a fitness center, a rooftop adult pool and bar, a golf course and more than 60,000 square feet of indoor meeting space. In early 2024, Anderson said the resort's opening was a key opportunity to sell hotel rooms directly to Allegiant's airline passenger customers. However, by the second quarter of the year, the resort's financial results were not meeting expectations. Despite expressing a rosier outlook on the long-term viability of Sunseeker Resort in Q1, Anderson shared that the company was on track to sell the property. 'We recognize our core competencies lie within the airline business where we see abundant opportunity and long-term success. Maintaining a strong industry-leading balance sheet is also a top priority of ours. Pursuing a transaction related to the sale of the resort is an important step towards our objectives for the airline,' Anderson said during a May earnings call. For Blackstone, the acquisition of the 'highly-amenitized' Sunseeker Resort aligns with the firm's 'strong conviction in hospitality and travel,' including group travel, Trebilco said in a statement. Group and business travel continued to grow at a healthy pace across the U.S. in the first quarter of the year, according to Cendyn and Amadeus' Hospitality Group and Business Performance Index. Multigenerational travel and sports tourism have bolstered group business nationwide. Blackstone adds the asset to a real estate portfolio with other large-scale resort properties, including the Hotel del Coronado in California, which recently completed a $550 million restoration. The firm also acquired the Kimpton Hotel Eventi in New York City earlier this year for $175 million. The Sunseeker Resort Charlotte Harbor transaction is expected to close in the third quarter of this year. Blackstone declined a Hotel Dive request to comment on the transaction. Recommended Reading Peachtree hotel investment remains strong post rebrand Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Skift
08-07-2025
- Business
- Skift
Blackstone Agrees to Buy Allegiant's Sunseeker Resort
Blackstone Group agreed to buy the troubled Sunseeker Resort in Port Charlotte, Florida, for $200 million from Allegiant Travel Company. Plus more hotel development news. The DJIA fell 422 points, the Nasdaq was down 189, and the S&P 500 was down 49 points. The 10-year treasury yield was up .05 to 4.40%. Lodging stocks were lower. The Ellie, a Hilton Tapestry Hotel, is a DoubleTree Hotel that went through an extensive renovation in 2024, with the revamp finishing in the spring of 2025. Changes include updated rooms, a pool with massive water slides, and a new name with a nod to Myrtle Beach's history. Located in Myrtle Beach, South Carolina, the Ellie features a lobby bar, a restaurant, and three distinct pool areas. There is a large pool with a wading space and three tall water slides. Off in the corner is a splash pad with interactive water features. The adults-only pool features a pool bar. The hotel also has a game room. The rumors were all true as Blackstone Group agreed to buy the troubled Sunseeker Resort in Port Charlotte, Florida, for $200 million from Allegiant Travel Company. The transaction is expected to close in the third quarter of 2025, and we can all take bets on who Blackstone will have brand and manage the property. The resort has 785 rooms. The property cost more than $700 million to develop, but it never made a profit for Allegiant. For more context, read Skift's Blackstone to Acquire Allegiant's Troubled Sunseeker Resort for Just $200 Million. Hawkins Way Capital has acquired the former 492-key Holiday Inn by IHG, located in the heart of Manhattan's Financial District. The firm plans to reposition the asset through targeted renovation, including cosmetic upgrades to all guestrooms and corridors. The re-imagined property will also see the conversion of former hotel amenity areas into functional shared spaces such as a communal kitchen and dining area, laundry rooms, lounges, study spaces, and a fitness center. The property will be managed by FCL Management. IHG Hotels & Resorts, in collaboration with Northstar Hospitality, LLC, announced the opening of the Holiday Inn Express & Suites Linden in Linden, New Jersey. The 121-room hotel features 3,200 square feet of meeting space and a fitness center. IHG Hotels & Resorts, in collaboration with Alliant Hospitality, Inc., announced the opening of Holiday Inn Express & Suites Fresno Airport in Fresno, California. Managed by Axis Hotel Group, the 89-room, newly built property features 1,363 square feet of meeting space, a business center, and an outdoor pool. IHG Hotels & Resorts, in collaboration with SHIVSAI, LLC, announced the opening of Garner Londonderry - Manchester in Londonderry, New Hampshire. The 99-room, newly rebranded property offers a fitness center and a welcoming atmosphere. Sonesta International Hotels Corporation announced the opening of Red Lion Inn & Suites Blue Springs. The 60-room midscale hotel is located in Blue Springs, Missouri, a suburb of Kansas City. Sotherly Hotels announced it received a Notice of Default from the special servicer for its mortgage loan secured by the Georgian Terrace in Atlanta. The claim is SOHO Atlanta is in default for failure to pay all amounts due and that Wilmington Trust, National Association, as Trustee, will take all such actions it deems appropriate to protect its interest in the mortgage loan. In other words, with $38 million due on the property, it is starting the foreclosure process. SOHO said they engaged a consultant to negotiate for an extension of the mortgage loan with the special servicer. Napa Valley's Silverado Resort has completed renovations to its 345 guestrooms and suites, a project that totaled $5.3 million. The room renovations represent the latest phase in a multi-million dollar modernization effort that began more than three years ago when KSL Capital Partners and Arcade Capital bought the property for an undisclosed amount. Peregrine Hospitality manages the resort. The entire revamp will take up to five years. In addition to the hundreds of guestrooms and suites, the resort includes two PGA championship golf courses, nine tennis courts, three bocce and pickleball courts, three pools, a spa and fitness center, The Grill restaurant, and 70,000 square feet of indoor and outdoor event space. Next up are renovations to the spa and fitness center and The Grove, an outdoor event space. Work on those projects is expected to begin in September. The spa and fitness center could be done by year's end, and The Grove by the end of the second quarter of 2026. 42 Hotel Group plans to build 42 Hotel, a 15-story, 75-key hotel in Fort Lauderdale Beach. The developers expect to open 42 Hotel in 2027. The developers said they plan to start clearing the development site for construction in the fourth quarter. The design of 42 Hotel in Fort Lauderdale Beach includes 67 rooms and eight suites, a rooftop pool and bar, a fifth-floor reception lobby with a bar and a coffee shop, and a mezzanine-level gym. Hankey Capital is backing a bargain-bin buy of a hotel near San Francisco's Union Square. Hankey provided an $8 million loan for an affiliate of Oceanic Enterprises to buy the 118-room Tilden Hotel near Union Square. AllianceBernstein offloaded the property for $9.3 million. Anchor Bridge Asset Management has been launched by founding partners Paul Fisher and Sam Zinsmaster to meet the demand for highly effective, third-party hotel asset management. Purpose-built to enhance profit margins, oversee complex renovations/repositions, and deliver optimized investment outcomes, the firm combines hands-on execution with deep investment expertise across chain scales. Anchor Bridge serves institutions, lenders, developers, and ownership groups seeking transparency, capital efficiency, and investment results. DSH Hotel Advisors announced the sale of the 61-room Candlewood Suites Jacksonville-Mayport, located in Jacksonville, Florida. The firm represented the seller, Mayport Lodging 2, Inc., and the buyer, Butler Lodging LLC. The sale price was not disclosed. Prime Investment Properties LLC announced the sale of the Heartland Inn & Suites in Wheatland, Wyoming. Located in Platte County, the 57-key hotel features a mix of comfortable guestrooms and amenities, including a fitness center and business services. Hodges Ward Elliott announced the closing of the Hampton Inn & Suites N. Ft. Worth Alliance Airport. Hodges Ward Elliott also announced the closing of the Hyatt Place Fort Worth Alliance Town Center. Duetto announced the launch of GameTime, a streamlined revenue management system designed specifically for select-service and limited-service hotel brands. Built from the ground up for this segment, GameTime offers a fast, scalable solution tailored to brands that prioritize efficiency and agility. Its mobile-friendly interface and intuitive setup empower lean teams to automate pricing decisions and scale operations effectively. Designed for enterprise brands with limited-service portfolios, GameTime simplifies pricing strategy and performance tracking, offering: automated pricing; flexible automation; real-time reporting & forecasting; portfolio management; predefined segmentation; and a mobile-friendly interface. Blue Diamond Resorts announced that Paraiso de la Bonita, A Luxury Collection Resort, Riviera Maya, Adult All-Inclusive, is set to become part of its expanding portfolio in the coming months, marking the company's entry into Marriott's prestigious Luxury Collection. The re-imagined hacienda-style retreat features 90 expansive suites, three oceanfront restaurants, two bars, a Thalasso pool, and a fitness space. For events and celebrations, the resort features an intimate indoor salon, lush oceanfront gardens, and a private dock. Personnel News Highgate announced the appointment of Pete Sams as President. He assumes the position today. Sams was previously COO at Peregrine Hospitality, formerly KSL Resorts, and before that, COO of Davidson Hospitality Group. Davidson Hospitality Group announced the appointment of Jason Reader as Chief Operating Officer, where he is responsible for driving best-in-class operational performance and profitability for the company's growing portfolio. Functional oversight includes all Davidson operating verticals: Davidson Hotels, Davidson Restaurant Group, Pivot, and Davidson Resorts, as well as select platform services departments such as strategic operations and marketing. Most recently, Reader held the role of Chief Operating Officer at Remington Hospitality. Effective July 1, 2025, James K. Chu has assumed a new position as Head of Owner Relations of Hyatt Hotels Corporation and no longer serves as Executive Vice President, Chief Growth Officer of the company. Europe Highlights Hilton has announced the signing of a management agreement with M&L Group to rebrand The Hotel Maria in Helsinki as the Waldorf Astoria Helsinki, marking the introduction of the Waldorf Astoria brand to the Nordic region. The property is set to undergo a rebranding process later this year. The hotel will feature 116 rooms and include amenities such as signature dining options, a bar, a fitness studio, and a Nordic wellness spa with a traditional Finnish sauna. The construction of a Fairfield by Marriott hotel in Warwickshire, UK, is set to begin later this year, following the receipt of Reserved Matters approval. Set to open in early 2027, the 142-bedroom midscale property marks the brand's UK debut.
Travel Weekly
07-07-2025
- Business
- Travel Weekly
Allegiant reaches deal to sell underperforming Florida resort
Allegiant Travel Company is selling the Sunseeker Resort Charlotte Harbor to Blackstone Real Estate for $200 million. The deal is expected to close in this year's third quarter. The 785-room Florida resort, Allegiant's first hotel venture, has underperformed since it opened in December 2023. Allegiant's main business is budget airline Allegiant Air. Since its opening, the property has struggled with low occupancy. During Allegiant's Q2 earnings call in 2024, executives disclosed that the resort was operating at approximately 35% occupancy with an average daily rate of $260. While occupancy improved to 54% by late 2024, performance has continued to fall short of targets. The company has been exploring strategic options for the resort since mid-2024. Allegiant CEO Gregory Anderson said Allegiant will use the proceeds from the sale to repay debt and strengthen its balance sheet. Located on 22 acres along Florida's Gulf Coast, the Sunseeker is home to multiple dining venues, two pools, a spa, a fitness center, a rooftop adult pool and bar, a golf course and more than 60,000 square feet of meeting space.
Skift
07-07-2025
- Business
- Skift
Blackstone to Acquire Allegiant's Troubled Sunseeker Resort for Just $200 Million
The hotel, which had become a drag on Allegiant's profitability, will be sold to Blackstone at a steep discount. Blackstone will acquire Allegiant Air's beleaguered Sunseeker Resort for $200 million, the companies said Monday, marking a major loss for the airline just 18 months after opening the Florida property at a cost of $720 million. Allegiant had been looking to offload the Charlotte Harbor, Florida hotel following a string of quarterly losses. The hotel had become a drag on Allegiant's bottom line, as the carrier recorded property damage costs from hurricanes and low operating revenues. Blackstone, the largest alternati
