Facing $25M loss, Allegiant hires consultant for Port Charlotte resort

Just months after it opened three years late and nearly a quarter-billion dollars over budget, Allegiant Travel Co. has hired a firm to review the resort's prospects.

By Louis Llovio
| 10:05 a.m. July 31, 2024
| Updated 6:20 p.m. July 31, 2024
| 0 Free Articles Remaining!

A year after opening, occupancy at the Sunseeker Resort Charlotte Harbor remains low.

Charlotte–Lee–Collier

Allegiant Travel Co. has hired an outside firm to conduct a strategic review of the recently opened Sunseeker Resort Charlotte Harbor as it deals with the potential of a $25 million loss at the resort this year..

In a note to investors Wednesday morning, the Las Vegas company says the review is aimed at improving the resort’s “financial performance and (to) help accelerate the strategic positioning of the hotel in conjunction with the existing experienced management team.”

That news was followed later in the day by an update included in a second quarter earnings statement saying the company expects to see a $25 million loss at the resort this year. That loss will be somewhat mitigated, however, because it will receive up to $10 million from its business interruption insurance for delays in opening the resort.