Blackstone to Buy Allegiant Florida Resort for $200 Million

Blackstone Inc. has agreed to purchase Allegiant Travel Co.’s Sunseeker Resort for $200 million, far less than the $720 million that the parent of Allegiant Airlines spent building the beleaguered retreat.

The sale is expected to close in the third quarter of this year, according to a statement Monday that confirmed an earlier Bloomberg News report. Allegiant will use the proceeds to repay debt.