#this presale has been a massive mess

[sleepanonymous]

This is a reminder to everyone in North America who is unable to get tickets for the pre-sale and general sale of Sleep Token’s Teeth of God tour. DO NOT buy resale tickets through third-party vendors like StubHub, Seat Geek, Vivid Seats, etc. Tickets for the Teeth of God tour are mobile-only and non-transferable. This means the seller will not be able to transfer the tickets you purchased from them. The only reliable way to purchase tickets to this tour is through Ticketmaster or your local venue’s ticketing system. Please protect yourself and do not get scammed. If you do not have tickets and need tickets, check out the list I’ve created below the cut. Once pre-sales/general sales are over, I’ll update this post with more links. For more context, check my post here.

Saturday, April 27 – Las Vegas, Nevada Sick New World Music Festival Purchase Tickets through Sick New World’s Website. Third-party sites and sellers can transfer mobile tickets.

Tuesday, April 30 – Phoenix, Arizona Arizona Financial Theatre 400 W Washington St, Phoenix, AZ 85003 (602) 379-2800 Purchase tickets resale through Ticketmaster.

Wednesday, May 1 – Albuquerque, New Mexico Revel Entertainment Center 4720 Alexander Blvd NE, Albuquerque, NM 87107 (505) 321-0406 Purchase tickets resale through Prekindle.

Friday, May 3 – Austin, Texas H-E-B Center 2100 Ave of the Stars, Cedar Park, TX 78613 (512) 600-5000 Purchase Tickets resale through Ticketmaster.

Saturday, May 4 – Dallas, Texas Toyota Music Factory 316 W Las Colinas Blvd., Irving, TX 75039 (469) 840-9730 Purchase Tickets through Ticketmaster.

Monday, May 6 – Tampa, Florida Yuengling Center 12499 USF Bull Run Drive, Tampa, FL 33617 (813) 974-3111 Purchase Tickets through Ticketmaster.

Tuesday, May 7 – Atlanta, Georgia Coca-Cola Roxy 800 Battery Ave SE #500, Atlanta, GA 30339 (470) 351-3866 Purchase Tickets through Ticketmaster.

Wednesday, May 8 – Asheville, North Carolina ExploreAshville.com Arena 87 Haywood St, Asheville, NC 28801 (828) 259-5736 Purchase Tickets through Ticketmaster.

Friday, May 10 – St. Louis, Missouri The Factory 17105 N Outer 40 Rd, Chesterfield, MO 63005 (314) 423-8500 Purchase Tickets through Ticketmaster.

Sunday, May 12 – Morrison, Colorado Red Rocks Amphitheatre 18300 W Alameda Pkwy, Morrison, CO 80465 (720) 865-2494 Purchase Tickets through AXS. Third-party sites and sellers can transfer mobile tickets.

Tuesday May 14 – Des Moines, Iowa Vibrant Music Hall 2938 Grand Prairie Pkwy, Waukee, IA 50263 (515) 895-4980 Purchase Tickets through Ticketmaster.

Wednesday, May 15 & Thursday, May 16 – Chicago, Illinois Salt Shed 1357 N Elston Ave, Chicago, IL 60642 (708) 967-2168 Purchase Tickets through Ticketmaster. Third-party sites and sellers can transfer mobile tickets.

Saturday, May 18 – Columbus, Ohio Sonic Temple Art & Music Festival Purchase Tickets through Sonic Temple’s Website. Third-party sites and sellers can transfer mobile tickets.

Sunday, May 19 – Pittsburgh, Pennsylvania Petersen Events Center 3719 Terrace St, Pittsburgh, PA 15261 (412) 648-3054 Purchase Tickets through AXS.

Monday, May 20 – Philadelphia, Pennsylvania The Met 858 N Broad St, Philadelphia, PA 19130 (800) 653-8000 Purchase Tickets through Ticketmaster.

Wednesday, May 22 – New York, New York Radio City Music Hall 1260 6th Ave, New York, NY 10020 (212) 465-6000 Purchase Tickets through Ticketmaster. Third-party sites and sellers can transfer mobile tickets.

Friday, May 24 – Boston, Massachusetts MGM Music Hall 2 Lansdowne St, Boston, MA 02215 (617) 488-7540 Purchase Tickets through Ticketmaster.

Saturday, May 25 – Laval, Quebec Place Bell 1950 Rue Claude-Gagné, Laval, QC H7N 0E4, Canada (514) 492-1775 Purchase Tickets through Ticketmaster.

Monday, May 27 & Tuesday May 28– Toronto, Ontario Massey Hall 178 Victoria St, Toronto, ON M5B 1T7, Canada (416) 872-4255 Purchase Tickets through Massey Hall.

[the-firebird69]

There's some other items happening tomorrow we are entering presale agreements for multiple industries with large lists of companies we mentioned some communication companies and there are others a data companies for example and high tech companies they're about 50 that will sign and we're getting to it shortly we don't have to mention that all the top level if you go to the Fortune 500 list of the top 50 plus 10

-we have a request to purchase things in the Midwest and get them the hell out of there and they'll Force the sale of other stuff and more it happened to agree with him so we're starting to concentrate on that right now and we have several presale agreements for companies out there one of them is

*international harvester it is the farm equipment company and for the most part it's the largest out there and in the United States and provide 70% of the equipment we are going to enter a presale tomorrow we have to set up the appointment but they have been requesting it and it's a different idea but I do know how it works that works very well and we're thinking of just taking it over but this is going too slow there are several other companies that we wish to do that too or with

*it's a division of Harvard and it is in the Midwest and it is an agricultural School named Stockbridge and it was at University of Massachusetts which is also an offshoot of Harvard and Harvard is the subsidiary of Oxford and a son went there and it's for the future and his laughing because the school was ridiculously easy and he was messing around unfortunately and she got him on track a little bit and it couldn't get him to stay on it so put him in Wentworth which is also part of Harvard University and it's considered to be a satellite campus. It's going to be coming out and writing cuz everyone's making fun of these guys. There are several other things that are going to happen they will help him one of them is these two will be gone shortly Trump and son and well Terry cheesman and they're going to be gone because of their actions and activities on their own people. And it is going to happen a lot faster than they think there's a preamble and it's serious now in Georgia for the watchmen television series he's going to go out there and become sheriff and it sets everything off and he is hit by Garth with the lawsuit and that's the beginning of it and dragged and he becomes sheriff because he thinks he can manipulate the outcome of that particular case so if you look the case is to begin this Monday no it starts on the 8th of March and that's the date that is what he is trying to gain power for and he tried to do other stuff and it failed so now he's going to go up there shortly and he is going to try and do this in March 8th is only 11 days away roughly and it's just over a week but it's really a short period of time to gain power and he will start trying in a series will begin before the trial we here too we hear it's only a few days and then he's on his way out and there's other actors that do rolls like he has and they're far less caustic. There are other things happening

*when a presale agreement with Kroger and other grocery stores and food distribution companies distributors and wholesale sales and bulk sales to the consumer. We have three agreements tomorrow they are purchase agreements not presale we have presale agreements with them already and they're moving it over to purchase one of them is Kroger and it is a massive company we're purchasing 40% of the world's largest food distributor and supplier and believe us we can get it done we already have that manpower there and I'm going to have more it is a gigantic firm there's more people working there then at the Pentagon and we mean the office and there are several offices all over the world and we are going to probably get an offer for 50%, after the first few days, the second one is stater Brothers they are gigantic and sure they have grocery stores in the West and our son went to them quite often and they grew and they took over other places like Ralphs and things and they are gigantic and distribute their own foods and other grocery stores and are about 100% independent and that they have their own food growers which is a warning sign and we are purchasing for real fully 40%, Publix and subsidiaries we are purchasing 30% for real and we're going to kick John remillard out his people will be out and he'll be out and Walmart at 15% and resigning and John remillard will be out and if they're there as vagrants were on the camera and we're getting them out and they're ridiculous and there are a shoot to kill orders on them and they go down to a certain level of police who has special agent status with the federal government and his was revoked last year and they're going to pull his card there's four states that are going to pull him off the ballot and people are surprised they can't believe he's still running it was asking him to leave and he's a real jerk okay there's other things happening too but we're going to publish

Thor Freya

Olympus

Zues Hera

[garudabluffs]

Ticketmaster cancels Taylor Swift general sale ticket sales set for Friday                     NOV.17,2022

Surging demand overwhelmed a presale of tickets for the 2023 tour, and Ticketmaster said there wasn’t enough tickets left for the general public. Many fans have expressed outrage at the tour rollout.

“Tickets have been reselling for as much as $28,000, Reuters reported.”

READ MORE https://www.washingtonpost.com/business/2022/11/17/taylor-swift-ticketmaster-presale/

Comments 714 

"...resulting in 3.5 billion total system requests” — four-times its previous web traffic peak."So almost half the earth's population tried to buy Swift tickets?

‘He said that a competitor promoted (?)) Swift’s show and chose Ticketmaster to sell the tickets because “we are, in reality, the largest and most effective ticket seller in the world.” '  Ummm, isn't that what a monopoly is?” Reply:”No, there are other ticketing companies they just don't have capacity to sell 2.5 million tickets.”

FYI - the Taylor Swift tour is not being promoted by Live Nation.  Her promoter is Louis Messina, whose company is owned by AEG.  AEG is Live Nation's largest competitor, and has their own ticketing company (AXS.com).

“Ticketmaster is the only DIRECT 1ST PARTY ticket sales company which makes it a monopoly.  Their connection with/to LIVE Nation which bought up and continues to buy up most of the venues which after purchase only sells tickets through Ticketmaster makes it a monopoly. Unless tickets are sold directly by a venue ( and there are very few that still do) any ticket selling company other than Ticketmaster is a scalper ticket seller who is using algorithms to get the best seats and who in turn jacks up the prices to make a profit. Only way to resolve it is to STOP selling tickets online. Make people provide ID in person to buy the tickets and to show the same ID for the same tickets at show time.

Eric Church tried to play venues not connected to TM or LN he found it  was impossible. Eddie Vedder and others tried yrs ago to stop the sale involving TM & LN and no one listened then.Hopefully this TS ticket mess will bust open the scam that is TM! “

“The venues have an exclusive contract with Ticketmaster. If you want to have a concert at a large venue, you must use Ticketmaster.”

“Taylor Swift is a well curated marketing initiative in which PR teams, publicists and make up artists seem to play a bigger role than music.”

“The company is the one who sold to the bots. I joined the verified fan list the minute it opened and was placed on a waiting list. The company is known for scalping it's own tickets and it's a problem when all of the large shows less than 10% are actually made available to fans. Now they are also using the dynamic pricing, when a Bruce Springsteen show the cheapest ticket was $5000 it's a monopoly that needs broken up. Tickets were being listed for $35,000 for this show and the company charges ridiculous fee's twice for every ticket. Anyone who thinks that she was the one getting all of this money is a fool.”

“I was lucky to get tickets during the verified fan and Capital One pre-sales, but d*mn, that dynamic pricing is brutal!  Floor and pit seats in Chicago were like $500+!  The nosebleed seats were going for $109!  I get to spend the next year paying off my CC now for our tickets :/  Most of the decent seats are way too pricey for the average fan..... “

BAN  THE  BOTS “The president of Ticketmaster just said on CBS Evening News that they knew their queue was full of bots not just legitimate individuals and did and apparently do nothing to filter them out.  This is where the super massive secondary market of tickets comes from.  Authorized scalpers and price gougers should be ILLEGAL ! “

“ Bollocks.Most of the tickets were dumped onto Stubhub by TM (owned by TM) with the artist’s approval. She takes a cut off the upsell. Happens all the time.” Nonsense. StubHub is not owned by Ticketmaster.

Tix were $119 each...so $55 in fees on a $238 purchase.  Ridiculous.

“What we were trying to say was: this could get worse if someone doesn’t fight it now,” Vedder told me in 2009, just as Live Nation and Ticketmaster were set to merge. “And apparently it looks like we predicted the future.” (Independent, 2019)

[davenportfinancial-blog]

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[icodogio]

How the VC Cartel is destroying ICOs (Episode 1)

How did we get here?

Remember the time when people did not race each other to  dump tokens first day of listing? Exchanges nowadays look more like a Black Friday Market, everybody ready to kill each other, out of fear getting dump on. Its a phenomena of 2018.

There are many reasons for this behavior in the market. One of them is obviously the crypto recession of over 70% since January, however I would make the argument that there is a deeper roots to this problem. ICOs have outperformed the market by a long shot, most of the now proclaimed shitcoins lost 95% of their value leaving a lot of ICO Investors with heavy bags.

Before pointing fingers at people and call out Bullshit, lets first take a look at what potentially can give ICOs value and what can cause them to dump.

  The three Pillars of ICOs

ICO investing is sadly all about speculation, and there are some indications that investors can use to help them decide between one project and another. Every infuencer has a different weighting system but most if not all follow the same model:

Team Experience in Relative Field

Type of Project (Potential Market Value)

Token Metrics (Company Evaluation)  

  Most investors would argue that the strength of the Team is the best indication of a projects success although I would argue otherwise, but everybody can have their opinions.

The next is the type of project, people kind of realized not to invest in Dapps because its much too early and the potential market size is not that great. So the only projects that still get funding are infrastructure or crosschain projects with large backing of exchanges and famous funds/VCs.

Last but not least the Metrics. Token Metrics are more important than anything else and they are what makes ICOs fundamentally different to traditional stocks. With equity there is a number of shares and you can buy a certain amount for a certain price. To provide additional clairtiy to investors projects that want to sell securities to investors need to publish something called a prospectus. 

A Prospectus is a formal legal document that is required by and filed with the Securities and Exchange Commission (SEC) that provides details about an investment offering for sale to the public. The reason that this document is required is because before we had something call the Securities act of 1933 a lot of shady shit was going on. 

Exchanges, large funds abused their power to misguided mom and pa Investors. In easy terms the prospectus is issued to give a degree of transparency in the projects expenses to determine if it is operating efficiently enough for the investor’s taste.

Ok now lets look at how ICOs changed from 2017 and 2018.

  The 4 stages of ICOs

Phase 1:

So back in 2017 a lot of things were different. It was still a great time when you could have breakfast watch some reviews go to the ICON ICO website, whitelist wait for the countdown to end put a few 100 of 1000s bucks inside, no VCs, no pools, no stress. I miss those times. 

There were much fewer investors that cared about ICOs enough to realized the potential of some of these things. Especially large funds and venture capitals did not know about the potential gains of ICOs. There were always a handful of respected VCs in the Blockchain startup space, but the real VCs crave only started in flooding in only around February of 2018. 

ICO investing was fun, if you were good at it you could have become a multi millionaire quite easily, 10x returns were the norm and 100x ROIs happened several time a month. 

Phase 2:

After the start of the downtrend in January, EVERYBODY stared to flood into the ICOs space, people that  missed out on Bashillas 100x projects all had the Gold rush. It became harder and harder to get into good projects and some point it was almost impossible to make it into the public sale of a top 10 ICO. It was emergence of the presale pools. Everybody was high on the gold rush. Millions were lost in scammy pools or just sent to scammers in the telegram channels. It was the wild west of ICOs. ICOs started to decrease their public sale allocation and increased their private sale deals. Together with the pools, venture capitals started to flood ICOs.

I remember reading this early this year which got my super existed:

Today, I want to talk to you about a startling similarity that I’m seeing in the cryptocurrency market and the technology market of 1994 to 1995.

  Now, what was interesting about 1994 to 1995 was that, even though the market was acting as if the opportunity in tech was over—very similar to the way this market is acting right now—what was interesting is that while stocks were going down, private investment and venture capital (VC) dollars were going up and they were going up a lot.

So, between 1994 and 1995, the whole Nasdaq got crushed. Companies like Oracle dropped like 50–60%; it was a blood bath. But you saw this huge increase in VC money coming into the market, like 30%. And $8 billion back in ’95 was a lot of money.

  Generally speaking, VC money is very, very clever money, so normally when you see a market collapse, VCs run for the hills. But just like in ’94 and ’95—when the market did collapse and it was a horrible sell-off—we’re actually seeing VC money increase. So right now, VCs are on track to do 900 deals this year in the space, and last year, they did less than 300.

The pace of deal-making and the pace of money coming into the market is actually increasing, and it’s improving. That is an incredibly bullish sign for the long-term value of the market, because again, once you got through this 1995-kind of debacle, you just had this massive bull market take place.

Ico investing started to become more difficult most project would go below ICO, but if you were good at picking the right ones you still had a decent chance at getting at least 500% returns days after their first exchange listing.

  Phase 3

After a rough year in 2018 most ICO investors lost faith in the system. Its August of 2018, two of the most anticipated ICOs Atonomi and One ledger hit the exchanges and lose 70% of value. The last bit of hope that investors had got destroyed. This was the beginning of phase 3 of ICOs. All ICOs dump hard on exchanges, not even the best projects have any chance of making any returns for their investors, well at least most of the investors. 

ICO investing became pointless. Most investors lost most if not all of their funds. Although investors became more educated and careful in their investment choices the returns were just as bad as getting into a scams. 

  So what the hell is going on? 

Lack of Liquidity:

There are several reasons for this steep decline. One of the leading forces was the lack of liquidity in the market. ICOs did extremely well because there were always traders around that were willing to trade the coin or token post exchange listing. Traders cant be bothered with ICO investing. They prefer to trader the news, new listings and progress. No traders meant no profits. On top of that many investors that used to be traders became ICO investors themselves, increasing the hardcaps and decreasing the buying pressure on the exchanges.

Too many shitty Projects:

In 2017 fewer projects listed on exchanges. There was simple less choice were to put your money into. So more choice with less liquidity is a bad combination. A lot of ICO investors became bag holders of bad projects and left the space.

  Massive Discounts and lack of Transparency:

Now this is the one that everybody wants to hear about. Something interesting happened in 2018. They reduced their public sale allocation and increased their private sale allocation. Many ICOs thought its more beneficial to sell to a few large contributors than to decentralize their funding. Although it does defeated the purpose of building a Decentralized Application and an ICO to that matter, most projects preferred this method of fund raising.  

Venture Capitals flooded the space and started taking over most if not all of the Hardcaps for projects. Leaving retail investors with nothing more than a Airdrop for promotional purposes. The only way retail investors had a chance to get a piece of the cake was by joining a pool and hanging themselves to VC allocations, often sold for large premiums up to 200%. 

VCs realized a lot of profits could be made in reselling allocations without any risks, the pool business was born. Millions were resold, resulting in often 5 intermediaries between the ICO and the investor. It was a mess.  

Venture Capitals have been in the business of making money and a lot of money was to be made in the ICO industry. Many realized that they could demand ridiculous discounts and lockups from projects and they usually would get it. As there are no clear guideline or regulations for ICOs, projects did not have to disclose any information to the public. The VC & Exchange Cartel would then continue to hype the project to investors until the project listing. Once on exchange VC & Funds would dump their tokens that they bought 10 times cheaper than the price on the exchanges on unknowing investors.

This was the beginning of Phase 4:

The Manufactured PUMP & DUMPS, being in the business of raising funds, instead of being in the business of building business.

  Next Episode we will go through some manufactured PUMP & DUMP ICOs in detail, outline some of the “Bad Players” in the space and explain why it was something like this had to happen eventually. 

  If you liked this article please share it on social media or join the discussion on our Telegram channel. 

        The post How the VC Cartel is destroying ICOs (Episode 1) appeared first on ICODOG.

source https://icodog.io/news/how-the-vc-cartel-is-destroying-icos-episode-1/

[rollinbrigittenv8]

Allegiant Air Will Enter the Hotel and Condo Business With Massive Florida Property

Allegiant Air is developing a Florida hotel and condo property called Sunseeker Resorts. The airline is calculating this is a natural extension of its air business. Allegiant Air

Skift Take: At least one high-profile Allegiant Air executive left the airline recently in part because he didn't want it to divest from its core mission of flying passengers, multiple sources have told Skift. But the project is happening anyways. We'll see if Allegiant has more success than other airlines that have entered the hotel business.

— Rachel Bronstein

After 18 years flying as an airline for the price conscious, Allegiant Travel Co. wants to add real estate development to its list of corporate activities. The company is embarking on an audacious plan to build a 22-acre resort compound with a hotel, condominiums, bars, and restaurants on the Florida Gulf Coast in Port Charlotte.

The real estate offshoot, called Sunseeker Resorts, will have a 75-room hotel, along with about 720 condo units, ranging from $650,000 to $1.1 million based on size. The property, when finished in late 2019 or 2020, will also include North America’s largest private-resort swimming pool.

Longer term, Allegiant wants to tout its success with the Sunseeker property as a bid to begin managing other leisure-destination hotels for fees, further diversifying its revenue, President John Redmond said Tuesday. It also sees lucrative opportunities in developing new food and beverage brands and restaurants it can use at other locations, plus meeting and banquet space, a marina with boat slip leases, and the ability of owners to rent their condos as part of the hotel operation.

All this new business development is, of course, far afield from the core operation of running an 88-jet airline with nationwide, less-than-daily service from small burgs to leisure destinations in Florida, Las Vegas, and Phoenix—a model that has proved wildly profitable. The airline is simultaneously working this summer to improve its operational reliability, which suffered earlier this year, while also shifting to an all-Airbus fleet by 2020.

“They’re not playing on their home field anymore”

It’s hardly revolutionary for an airline to own or build traveler accommodations— Pan American Airways did it right after World War II, when founder Juan Trippe opened the carrier’s first hotel in Brazil. The chain expanded into the InterContinental brand under Pan Am ownership for 35 years before the airline’s financial pinch caused it to sell the hotels in 1981.

In the 1980s, United Airlines’ parent briefly became the Allegis Corp., a full-service travel conglomerate that aimed to meet the full range of travel needs by piecing together the airline with its ownership of Hertz rental cars and the Westin and Hilton hotel chains. (United had acquired Hilton from another airline, TWA.) The conglomeration effort died ignominiously in 1987 amid a shareholder battle, two years after the Hertz acquisition and almost 20 years after the company had bought Westin. United’s parent sold off everything but the airline.

A few carriers—including All Nippon Airways Co. Ltd and Icelandair Group—still own hotels, perceiving them as a natural commercial fit. But that’s about it.

Investors have shaved 29 percent off Allegiant’s share price this year

The fear among Allegiant investors is that the project could prove to be both costly and distracting. Allegiant spent $35 million to acquire 20 parcels from 15 owners to stitch together its development site. The company says it will fund the project with presale deposits, collecting roughly 30 percent of a condo’s sale price before the particular unit is completed. As units are finished and sold, Allegiant aims to roll that income into financing further construction and keeping project costs away from its balance sheet. Owners’ fees are expected to cover operating costs and future maintenance on the hotel rooms and condos.

“Our cash investment will never be more than something around the cost of a plane,” Redmond said. (Allegiant officials said they won’t have a firm view of overall costs until further planning is completed next month.)

Not everyone is convinced this novel endeavor will succeed. Real estate is a different business, with different types of cycles, returns, and competition than Allegiant sees with air service, noted Seth Kaplan, a managing partner at trade journal Airline Weekly. He likens the business shift to a sports team “playing an away game—they’re not playing on their home field anymore.”

There’s also the old saw about not messing with a good thing. At a time of increasing airline competition, Sunseeker could further imperil the airline’s stellar profits of late: Over the past 12 months, Allegiant and Ryanair Holdings Plc have been the world’s most profitable carriers, with a roughly 22 percent operating margin.

For Allegiant, however, such great numbers actually mark a stark drop from the past two years, when its almost 30 percent margins were among the best in the industry worldwide. Investors, meanwhile, have shaved 29 percent off Allegiant’s share price this year, spooked by the big airlines and their efforts to combat ultra-low-cost carriers such as Allegiant and Spirit Airlines Inc.

“The fact that people fly our plane doesn’t mean they’re broke”

It’s also fair to wonder whether Allegiant’s customer base, which paid an average $112 for a flight in the second quarter, is the best source of buyers for seaside condos that could cost nearly $1 million, plus recurring homeowner fees.

“The fact that people fly our plane doesn’t mean they’re broke,” Redmond said Tuesday on a conference call. “The people are flying the plane because they’re going to a leisure destination.”

Still, the carrier has an escape plan—namely, becoming a real estate flipper. Allegiant has modeled the “absolute worst downside” for its Florida project, which would be to sell the property, said Redmond, a former executive at MGM Resorts International Inc. and Caesars World Inc. who joined Las Vegas-based Allegiant in September 2016.

“The land is worth a hell of a lot more aggregated up as a 22-acre parcel, and flipping it to some other developer, than it was as 20 separate parcels not on the market,” Redmond said.

While it remains an open question whether the Florida condo market will prove lucrative for an ULCC, Allegiant’s record of making so much money in a financially fraught industry will prompt many industry observers and investors to “give them the benefit of the doubt,” Kaplan said. “Generally speaking, don’t bet against Allegiant.”

©2017 Bloomberg L.P.

This article was written by Justin Bachman from Bloomberg and was legally licensed through the NewsCred publisher network. Please direct all licensing questions to legal@newscred.com.

[touristguidebuzz]

Allegiant Air Will Enter the Hotel and Condo Business With Massive Florida Property

Allegiant Air is developing a Florida hotel and condo property called Sunseeker Resorts. The airline is calculating this is a natural extension of its air business. Allegiant Air

Skift Take: At least one high-profile Allegiant Air executive left the airline recently in part because he didn't want it to divest from its core mission of flying passengers, multiple sources have told Skift. But the project is happening anyways. We'll see if Allegiant has more success than other airlines that have entered the hotel business.

— Rachel Bronstein

After 18 years flying as an airline for the price conscious, Allegiant Travel Co. wants to add real estate development to its list of corporate activities. The company is embarking on an audacious plan to build a 22-acre resort compound with a hotel, condominiums, bars, and restaurants on the Florida Gulf Coast in Port Charlotte.

The real estate offshoot, called Sunseeker Resorts, will have a 75-room hotel, along with about 720 condo units, ranging from $650,000 to $1.1 million based on size. The property, when finished in late 2019 or 2020, will also include North America’s largest private-resort swimming pool.

Longer term, Allegiant wants to tout its success with the Sunseeker property as a bid to begin managing other leisure-destination hotels for fees, further diversifying its revenue, President John Redmond said Tuesday. It also sees lucrative opportunities in developing new food and beverage brands and restaurants it can use at other locations, plus meeting and banquet space, a marina with boat slip leases, and the ability of owners to rent their condos as part of the hotel operation.

All this new business development is, of course, far afield from the core operation of running an 88-jet airline with nationwide, less-than-daily service from small burgs to leisure destinations in Florida, Las Vegas, and Phoenix—a model that has proved wildly profitable. The airline is simultaneously working this summer to improve its operational reliability, which suffered earlier this year, while also shifting to an all-Airbus fleet by 2020.

“They’re not playing on their home field anymore”

It’s hardly revolutionary for an airline to own or build traveler accommodations— Pan American Airways did it right after World War II, when founder Juan Trippe opened the carrier’s first hotel in Brazil. The chain expanded into the InterContinental brand under Pan Am ownership for 35 years before the airline’s financial pinch caused it to sell the hotels in 1981.

In the 1980s, United Airlines’ parent briefly became the Allegis Corp., a full-service travel conglomerate that aimed to meet the full range of travel needs by piecing together the airline with its ownership of Hertz rental cars and the Westin and Hilton hotel chains. (United had acquired Hilton from another airline, TWA.) The conglomeration effort died ignominiously in 1987 amid a shareholder battle, two years after the Hertz acquisition and almost 20 years after the company had bought Westin. United’s parent sold off everything but the airline.

A few carriers—including All Nippon Airways Co. Ltd and Icelandair Group—still own hotels, perceiving them as a natural commercial fit. But that’s about it.

Investors have shaved 29 percent off Allegiant’s share price this year

The fear among Allegiant investors is that the project could prove to be both costly and distracting. Allegiant spent $35 million to acquire 20 parcels from 15 owners to stitch together its development site. The company says it will fund the project with presale deposits, collecting roughly 30 percent of a condo’s sale price before the particular unit is completed. As units are finished and sold, Allegiant aims to roll that income into financing further construction and keeping project costs away from its balance sheet. Owners’ fees are expected to cover operating costs and future maintenance on the hotel rooms and condos.

“Our cash investment will never be more than something around the cost of a plane,” Redmond said. (Allegiant officials said they won’t have a firm view of overall costs until further planning is completed next month.)

Not everyone is convinced this novel endeavor will succeed. Real estate is a different business, with different types of cycles, returns, and competition than Allegiant sees with air service, noted Seth Kaplan, a managing partner at trade journal Airline Weekly. He likens the business shift to a sports team “playing an away game—they’re not playing on their home field anymore.”

There’s also the old saw about not messing with a good thing. At a time of increasing airline competition, Sunseeker could further imperil the airline’s stellar profits of late: Over the past 12 months, Allegiant and Ryanair Holdings Plc have been the world’s most profitable carriers, with a roughly 22 percent operating margin.

For Allegiant, however, such great numbers actually mark a stark drop from the past two years, when its almost 30 percent margins were among the best in the industry worldwide. Investors, meanwhile, have shaved 29 percent off Allegiant’s share price this year, spooked by the big airlines and their efforts to combat ultra-low-cost carriers such as Allegiant and Spirit Airlines Inc.

“The fact that people fly our plane doesn’t mean they’re broke”

It’s also fair to wonder whether Allegiant’s customer base, which paid an average $112 for a flight in the second quarter, is the best source of buyers for seaside condos that could cost nearly $1 million, plus recurring homeowner fees.

“The fact that people fly our plane doesn’t mean they’re broke,” Redmond said Tuesday on a conference call. “The people are flying the plane because they’re going to a leisure destination.”

Still, the carrier has an escape plan—namely, becoming a real estate flipper. Allegiant has modeled the “absolute worst downside” for its Florida project, which would be to sell the property, said Redmond, a former executive at MGM Resorts International Inc. and Caesars World Inc. who joined Las Vegas-based Allegiant in September 2016.

“The land is worth a hell of a lot more aggregated up as a 22-acre parcel, and flipping it to some other developer, than it was as 20 separate parcels not on the market,” Redmond said.

While it remains an open question whether the Florida condo market will prove lucrative for an ULCC, Allegiant’s record of making so much money in a financially fraught industry will prompt many industry observers and investors to “give them the benefit of the doubt,” Kaplan said. “Generally speaking, don’t bet against Allegiant.”

©2017 Bloomberg L.P.

This article was written by Justin Bachman from Bloomberg and was legally licensed through the NewsCred publisher network. Please direct all licensing questions to legal@newscred.com.

[the-firebird69]

Our son has had some sleep but only about 6 hours and he needs to rest. That's true of these people are barbarians and pigs and they want to keep them up and they don't understand why no it doesn't make any sense but that's what they're doing anyone trying to kidnap him and all this crap so the fighting is intensifying with the pseudo empire and intensifying in Georgia in Massachusetts is a mess they're fighting really hard and there's more areas Utah is a disaster in California and Nevada and practically all the areas where they are are broiled New Zealand is under siege they have 25% of their first left only and they lost most of their territory yeah and Florida they're losing more of their lands today and they're going to court and they're going to lose another half and I'll push the war forwards it is a massive conflict huge numbers of dead giant giant scores of people aren't going missing we have a massive statement to make later on today regarding the atrocious behavior of these people here and we're continuing assaults on one person are issuing the statement to the Powers that be and telling them that they simply must rectify the situation. And the max of a plan is going slowly and it's allowing tons of abuses and their plan doesn't do anything because of it wherever he goes we have to be there and have to be on the other side and sounds like a complaining cuz we are it's really horrendous it's horrendous sounds horrendous talk horrendous people everywhere who are uncivilized and we don't want this anymore and we didn't want it but they horrendous they're huge huge losers and today we have a whole bunch of pre-purchase agreements to sign we have to get to it and we'll get inside them and enter to agreements and we have purchase agreements and it's a list of companies:

Siemens controls and HVAC components and that's what they can provide and it's a big company 29% today and that's the number for a presale agreement, New York HVAC equipment 35% presale agreement, trains 25% resale agreement, carrier 10% pre-sale agreement, and about five other HVAC companies and all of them around 30% and it's pre-sale

*a different category presale agreement for Zales and we said we were purchasing it but we haven't yet and they're trying to take the equipment and try to sell us it was less stuff and there's fighting over it and they think they're doing it so they want to sell more companies 40% pre-sale agreement being signed today, Tiffany's which is number two on Earth for the jewelry service and presale today 30% presale, this is a juggernaut in the business it just sends a decenza their number one 40% presale agreement today and they came to us this weekend it is a gigantic company and their reasoning is that they cannot handle any of it it's a war going after these small diamonds, Virginia Richmond and they sell jewelry and it's not really huge but they want to sell to us because they can't get any jewelry for their women it's the Jordan and they're about number 40 presale agreement,

* Harley Davidson they wanted to do a sale now they want to do a presale for about 55%, and it's a very large company and he has a huge number of factories in outlet stores that are really a sales tours and stores and he has some situators that provide them stuff and that is also going to be a presale agreement for 100% of five subsidiaries that provide accessory items and they're Harley-Davidson approved Chrome pieces and covers and seats and handle grips and tassels and tank covers and more and not the apparel there are several other companies for presale today

*one of them is from caldor and now it's Target we've been saying we're going to purchase it when we were told to we were told to and we agreed 35%, Marshalls 40%, Lord & Taylor and it's a decent science company and we are going to presale signed for 40%, Neiman Marcus 50% resale agreement, JCPenney 60% presale agreement and yes our son's idea is working and daughters idea, the other companies too Sears and roebuck I think 30% presale and Walmart 10% presale

*Floyd Daniels 30% presale Morrison Knudson 40% presale maybe more, Bechtel about 15% presale, Turner 20% presale, perini 30% presale, and they're more construction companies about 50

*these companies are pretty big is the grocery companies and their presale again and we're entering sales and then bja just sat there and did nothing and was really annoying at Kroger 20%, stater Brothers 30%, Winn-Dixie 20%, overland 20%, Lane 30%, and a couple others that are pretty big but they're 30%, we are running up to the hour we do have to do other things right now there are other companies and we'll list them later on

Thor Freya

Olympus

Zues and Hera