Allegiant Travel Company has announced that it will restart construction on the Sunseeker Resort in Charlotte County, Florida this month after it was halted due to the pandemic and its adverse impact on the travel and hospitality industry.
Allegiant's president, John Redmond, said at a press conference last week that Allegiant plans to finish construction within 18 months, and the beach resort north of Fort Myers is expected to open in early 2023.
During an investor call last week, Redmond said that once completed, the Peace River development will be different from others in the state because it will be built 16 feet above the average high tide line, so it will be better prepared to prevent damage from hurricanes that may occur.
Allegiant's second-quarter earnings show the company generated revenue close to pre-pandemic revenue levels, bringing in $472.4 million in the last quarter compared to $491.8 million two years ago.
According to the Sarasota Herald Tribune, the Sunseeker project was backed by a new $350 million loan from an unspecified lender and the facility was given as collateral.
Comments
No comment yet.