Allegiant Travel (ALGT) said in a regulatory filing Friday it will book a $322 million non-cash impairment charge during Q4 of fiscal 2024 as the carrying value of its Sunseeker Resort in Florida is no longer "fully recoverable."
The impairment charge will not impact Allegiant's cash flow, and it will continue to operate the resort, it said in an 8-K filing with the US Securities and Exchange Commission.
Allegiant hired Prospect Hotel Advisors in July to carry out a strategic review of the Sunseeker resort.
Shares of the company were up 2.6% in recent Friday trading.
Price: 106.77, Change: +2.71, Percent Change: +2.60
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