The Stanley Hotel, a historic property in Estes Park, Colorado, US, is set to undergo a renovation financed through the municipal bond market, as reported by Bloomberg.
The hotel aims to solidify its standing in the film industry and draw in horror film enthusiasts by borrowing close to $300m for expansion.
The renovation project, a culmination of ten years of planning by the hotel owners, state authorities, and cultural entities, seeks to enhance regional tourism and leverage the anticipated relocation of the Sundance Film Festival from Utah to Boulder in 2027.
Featuring 196 rooms, the Stanley Hotel is an independent establishment that has been operational since 1909 and is recognised on the National Register of Historic Places.
Spanning over 40 acres, the hotel’s campus offers a range of amenities, which encompass outdoor pools, a spa, restaurants, and a concert hall.
It is notably the only full-service hotel near the entrance to Rocky Mountain National Park.
The planned expansion includes the addition of 65 guest rooms, a new lobby, an arrivals area, and an event centre.
The bond offering, managed through a state authority, will be primarily tax-exempt and supported by the hotel’s revenue and other financial streams.
However, the debt is unrated, indicating a higher level of risk and availability only to qualified investors.
Bond documents highlight potential risks such as tariffs on imported construction materials, which could inflate costs and impact the hotel’s revenue.
The new centre will feature a museum and film archive with exhibits and Blumhouse Productions-curated events.
It will house movie sets, artefacts from horror films, an auditorium with a capacity of 1,100 people, a 176-seat theatre, and a speakeasy.
Additionally, the renovated property will continue to host the annual Sundance Directors Lab programme, which has been held at the hotel since 2024.
Colorado Educational and Cultural Facilities Authority executive director Mark Heller is overseeing the issuance of the bonds.
Post-renovation, the Stanley Hotel will become a fully owned subsidiary of the issuer, a public entity that finances cultural and educational institutions within the state.
“Colorado’s Stanley Hotel plans $300m renovation” was originally created and published by Hotel Management Network, a GlobalData owned brand.
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