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View Full Version : Sunseeker Resorts by Allegiant


dutch rudder
08-29-2017, 03:23 PM
Allegiant to build massive waterfront resort near Florida's Punta Gorda Airport (http://www.news-press.com/story/news/2017/08/29/allegiant-build-waterfront-condo-hotel-resort-near-punta-gorda-airport-florida/607657001/)

Allegiant is now in the hotel business. “This is the largest waterfront resort of its kind in the state of Florida,” said Allegiant President John Redmond.

Largest pool in North America, private marina, 10 restaurants, etc. Sounds innovative and cool. Sounds a bit hasty and stupid. Time will tell.

Thoughts?


FMGEC
08-29-2017, 03:32 PM
Allegiant to build massive waterfront resort near Florida's Punta Gorda Airport (http://www.news-press.com/story/news/2017/08/29/allegiant-build-waterfront-condo-hotel-resort-near-punta-gorda-airport-florida/607657001/)

Allegiant is now in the hotel business. “This is the largest waterfront resort of its kind in the state of Florida,” said Allegiant President John Redmond.

Largest pool in North America, private marina, 10 restaurants, etc. Sounds innovative and cool. Sounds a bit hasty and stupid. Time will tell.

Thoughts?

https://www.youtube.com/watch?v=Y5smVonJpY0&ytbChannel=Holly%20Stokes

theycallmered
08-29-2017, 03:45 PM
Seems pretty smart to me. I think it's something like 40-60% of Allegiant's income comes from vacation packages/hotels/rental cars/etc? Sounds like more steady income to support the business as a whole. If the flying business cools off for a little bit, we don't have all of our eggs in one basket.


WesternSkies
08-29-2017, 03:58 PM
To be the Debbie, if flying cools off you will be *furloughed* and the company will be fine.

tomgoodman
08-29-2017, 04:23 PM
Another airline tried to "synergize" with hotels and even rental cars, using the name "Allegis". It did not turn out well.....:(

https://namedropping.wordpress.com/2010/11/13/the-allegis-disaster-and-the-juliet-syndrome/

FreshWater
08-29-2017, 04:29 PM
To be the Debbie, if flying cools off you will be *furloughed* and the company will be fine.

We did pretty good in the last decade of furloughs. G4 hired more furloughs than it ever furloughed itself. About a quarter of the twa/amr furloughs ended up staying. Diversifying into commercial real estate is what our president is probably best suited for.

ecam
08-29-2017, 04:50 PM
This "airline" (travel company) has a long history of rolling the dice on crazy ideas, and succeeding where everyone else has failed. I think it's a brilliant idea, and if it succeeds it will take this company to the next level. If it fails, upper management heads will roll and we'll keep doing what we do every day (printing money). What's a few hundred million dollars between billionaires anyhow? :D

tyler durden
08-29-2017, 06:41 PM
Ambitious plan with huge upfront costs that won't be recouped for 4-5 years?. I'm no business tycoon (never thought inflight sales or BIS would work) but this seems to carry its share of unnecessary risk. For what? A lot can happen with the economy during a time where the company would be heavily leveraged. We are well positioned to handle economic downturns due to our favorable debt structure and strong balance sheet. Who knows, could be a success, or a terrible mistake, just not seeing why we are assuming so much risk and exposure.

For all our sakes, hope it works out.

tyler durden
08-30-2017, 11:51 AM
https://www.reviewjournal.com/business/Allegiant-Air-to-build-600M-beachfront-resort-in-Florida

Interesting read

tyler durden
08-31-2017, 09:59 AM
"Redmond was originally elected to Allegiant's Board of Directors in 2007 and served until June 2013, when he resigned to assume a full-time commitment in Australia. He was once again designated to serve on the board in April 2014."

Echo entertainment chief John Redmond quits as high-end punters hurt The Star (http://www.smh.com.au/business/echo-entertainment-chief-john-redmond-quits-as-highend-punters-hurt-the-star-20140204-32049.html)

https://www.forbes.com/sites/muhammadcohen/2016/02/12/star-is-born-in-australia-gaming-as-former-echo-rebounds/

https://www.businessinsider.com.au/john-redmond-has-quit-echo-entertainment-after-just-over-a-year-as-ceo-2014-2

https://calvinayre.com/2014/02/05/casino/echo-entertainment-profit-falls-ceo-redmond-quits/

"Redmond said he doesn’t plan to open a Sunseeker Resort in Las Vegas, but additional locations could spring up in Florida if he’s successful with the experiment in Port Charlotte."

tyler durden
08-31-2017, 10:17 AM
https://www.reviewjournal.com/business/allegiant-air-to-build-600m-beachfront-resort-in-florida/

Under the radar

Speculation about Allegiant’s journey into the hotel business heightened when Redmond was named the company’s president last September. Redmond said he saw promise in Florida’s Gulf Coast and discovered 22 acres of waterfront property adjacent to U.S. Highway 41, a major connector between Miami and Tampa.

The land was split into 20 parcels with 15 different owners, dotted with a gas station, boating businesses and a motel that survived the wrath of Hurricane Wilma in 2005. But only two of those parcels were on the market.

“The challenge was to figure out how to acquire all of this land under the radar,” Redmond said.

Redmond quietly snapped up the land, piece by piece, by presenting himself as a developer during meetings with the landowners. All the real estate transactions were completed under his name by July, leaving out any mention of Allegiant.

“No one figured it out,” Redmond said, declining to say how much he spent on land acquisition.

tyler durden
08-31-2017, 12:09 PM
https://www.reviewjournal.com/business/allegiant-coo-executive-vice-president-jude-bricker-resigns/

“We’re making all the right investments toward, what I think over time, will be a better customer experience. The important thing is that we recognize it, and we’re making all the right moves to get there.” (Bricker).

"Allegiant executives on Friday credited Bricker as a “key architect” of the company’s industry-defying strategy to concentrate service at airports in small and midsize cities."

"A reason for Bricker’s departure was not provided by Allegiant executives"