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Allegiant Travel partners with TPG Sixth Street to build Sunseeker Resorts brand

Global finance and investment firm TPG Sixth Street Partners made a $175 million initial commitment to support the development of Allegiant Travel Co.'s Sunseeker Resorts Charlotte Harbor in southwest Florida.

The initial commitment is part of an up to $1 billion long-term partnership between TPG Sixth Street and Las Vegas-based airline Allegiant to build the Sunseeker Resorts imprint, as well as to provide opportunities to expand the proposed resort and develop other properties or related ventures.

Sunseeker Resorts Charlotte Harbor is expected to rise near the Punta Gorda Airport in Florida's Charlotte County with an estimated 510 hotel rooms, 189 extended-stay units, meeting and conference space, restaurants, bars and retail outlets.

TPG Sixth Street is in a strategic partnership with global alternative asset firm TPG Capital Management LP. Goldman Sachs was the sole financial adviser in the transaction.