24/05/2022

Telefonatbns

Making a New Home

Allegiant to resume work on $510M Florida resort

3 min read

Table of Contents

Dive Brief

  • Allegiant Travel Corporation declared that it will resume building this month on its Sunseeker Vacation resort in Charlotte County, Florida, after it experienced been halted because of to the pandemic and its unfavorable outcomes on the travel and hospitality marketplace.
  • John Redmond, president of Allegiant, claimed during a press conference very last week that Allegiant ideas to finish building inside of 18 months, and that the waterfront resort north of Fort Myers is envisioned to open up by early 2023.
  • During an investor simply call on Thursday, Redmond explained that when full, the advancement on the Peace River will be compared with any other in the state for the reason that it will be created 16 ft previously mentioned the necessarily mean superior-tide line, generating it much better well prepared to prevent problems from hurricanes.

Dive Insight

As the coronavirus pandemic enters a new, uncertain section with the delta variant resulting in spikes in situations, the destiny of the hospitality field is nevertheless up in the air. Nevertheless, tourism in the Sunshine Point out looks to be rebounding from final year’s COVID-19 issues. For instance, in a six-week extend in June and July, Orlando-region motels and motels recorded report occupancy, according to news outlet WESH 2.

Allegiant’s next-quarter earnings show the company attained shut to pre-pandemic amounts of earnings, bringing in $472.4 million previous quarter, as opposed to $491.8 million two many years back.

The Sunseeker undertaking has been bolstered by a new $350 million personal loan from an undisclosed loan provider, with the resort as collateral, according to the Sarasota Herald Tribune.

Redmond is committed to sticking to the timeline, he said in the press release. When the challenge was paused, it was about a 3rd of the way created, in accordance to executives on the investor get in touch with, and the general venture has an approximated finances of about $510 million. 

“When we initial announced a short term pause in building, we normally envisioned restarting inside of 18 months. I am satisfied to say that we’re correct on keep track of,” Redmond explained.

When concluded, the resort will have 500 hotel rooms, alongside with 55,000 square feet of conference and convention space and 19 restaurants and bars. Tied into the hotel’s building is also a golfing training course, which is staying renovated as a offer with the hotel, and will open at the similar time.

Performing on the golf training course renovations is Kipp Schulties, who has developed golfing classes at Boca Raton Resort & Club and Quail Lodge Vacation resort & Club. The challenge will use about 800 development staff and will employ 1,150 individuals after accomplished, in accordance to a press release

When speaking with area news station ABC7, Redmond was adamant about quashing any rumors that he was organizing to provide the job at any level in the process. Redmond also emphasized that because the resort was projected to convey in 2 million people today to the close by Punta Gorda Airport, it was crucial to continue to keep going on the undertaking.

“We have under no circumstances specified up on this venture, at any time,” Redmond informed ABC7.

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