Blackstone Real Estate has agreed to acquire the newly developed Sunseeker Resort Charlotte Harbor from Allegiant Travel Company for $200m, as the private equity giant doubles down on hospitality-focused investments.

The 785-room resort sits on 22 acres along Florida’s Gulf Coast and offers a wide array of upscale amenities, including multiple dining concepts, a spa, two pools, a championship golf course, and more than 60,000 square feet of meeting space.

Scott Trebilco, Senior Managing Director at Blackstone Real Estate, said the deal reflects the firm’s “strong conviction in hospitality and travel and the continued growth in group-oriented destinations.” He added, “Allegiant has built a fantastic property and we look forward to bringing our extensive experience with large scale resorts to Sunseeker.”

The acquisition supports Allegiant’s strategy to refocus on its core airline business. CEO Gregory C. Anderson noted, “Blackstone’s extensive hospitality holdings and their execution capabilities make them the ideal counterparty for this transaction… We plan to use the proceeds from the sale to repay debt and strengthen our balance sheet.”

Barclays acted as financial advisor to Allegiant. The deal is expected to close in the third quarter of 2025, subject to customary conditions.

Blackstone Real Estate, with $320bn in assets under management, remains the world’s largest commercial real estate owner, with a diversified global portfolio spanning logistics, residential, hospitality, data centres, and office space.

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