Allegiant to resume work on $510M Florida resort

Dive Transient

  • Allegiant Travel Organization announced that it will resume design this month on its Sunseeker Resort in Charlotte County, Florida, after it experienced been halted because of to the pandemic and its damaging effects on the journey and hospitality industry.
  • John Redmond, president of Allegiant, claimed all through a press conference past week that Allegiant plans to end development within 18 months, and that the waterfront vacation resort north of Fort Myers is predicted to open by early 2023.
  • All through an trader call on Thursday, Redmond claimed that when complete, the advancement on the Peace River will be as opposed to any other in the condition due to the fact it will be constructed 16 feet earlier mentioned the signify large-tide line, building it superior organized to stay away from harm from hurricanes.

Dive Insight

As the coronavirus pandemic enters a new, unsure period with the delta variant producing spikes in scenarios, the destiny of the hospitality sector is however up in the air. Even so, tourism in the Sunshine Condition would seem to be rebounding from last year’s COVID-19 problems. For instance, in a six-7 days extend in June and July, Orlando-place resorts and motels recorded document occupancy, according to information outlet WESH 2.

Allegiant’s 2nd-quarter earnings show the company gained close to pre-pandemic stages of revenue, bringing in $472.4 million past quarter, as opposed to $491.8 million two yrs in the past.

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

Redmond is fully commited to sticking to the timeline, he stated in the press launch. When the project was paused, it was about a third of the way developed, in accordance to executives on the trader call, and the overall challenge has an estimated funds of about $510 million. 

“When we initially declared a non permanent pause in building, we always envisioned restarting in just 18 months. I am content to say that we are proper on monitor,” Redmond claimed.

When concluded, the resort will have 500 hotel rooms, along with 55,000 sq. feet of conference and meeting place and 19 restaurants and bars. Tied into the hotel’s construction is also a golf class, which is being renovated as a deal with the resort, and will open up at the similar time.

Performing on the golfing study course renovations is Kipp Schulties, who has developed golf courses at Boca Raton Resort & Club and Quail Lodge Vacation resort & Club. The task will utilize about 800 construction employees and will employ 1,150 people today at the time completed, according to a push launch

When speaking with area news station ABC7, Redmond was adamant about quashing any rumors that he was scheduling to sell the challenge at any issue in the process. Redmond also emphasised that mainly because the vacation resort was projected to convey in 2 million people to the close by Punta Gorda Airport, it was significant to hold going on the undertaking.

“We have never presented up on this challenge, at any time,” Redmond explained to ABC7.