Cost of Port Charlotte resort climbs to nearly $700 million

The cost to build the Sunseeker Resort Charlotte Harbor has gone up once again and will now come in at more than $175 million than originally projected.

In an earnings report released Wednesday morning, John Redmond, CEO of Las Vegas-based Allegiant Travel Co., says that because of inflationary pressures and supply chain issues “we expect the final capital expenditure budget to be $695 million.”

“Although we are still working through insurance claims related to Hurricane Ian, we have better line of sight regarding completion and final budget,” Redmond says in the report released ahead of the company’s quarterly earnings call.