The Stanley Hotel Just Sold For $425 Million, But By Who?
It was announced back in April 2024 that the iconic Stanley Hotel in Estes Park was going to be sold to a non-profit group in Arizona. That deal unfortunately fell through, and now everybody has been wondering who is going to own Colorado's The Stanley Hotel.
Bonds have officially been approved and it is only a matter of time before The Stanley Hotel officially has a new owner.
About the Purchase of The Stanley Hotel
The purchase of The Stanley Hotel will come with a big price tag. According to FOX 31, The Stanley Hotel will be purchased with $425 million in bonds.
These bonds will be used to pay off current debt and will be invested into The Stanley Hotel, and Colorado communities.
Related: $400 Million Horror Exhibit Coming to Colorado’s The Stanley Hotel
Renovations will take place and the rooms and restaurant will be updated. Also, the Stanley Film Center will be built. The center will be focused on highlighting horror films throughout the year, and of course, will honor The Shining. The Shining was inspired by Stephen King's experience at The Stanley Hotel.
Who Purchased The Stanley Hotel?
A company called SPACE, LLC, which is a subsidiary of the Colorado Educational and Cultural Facilities Authority was formed last year and according to Westword, SPACE LLC worked with many organizations to secure the funding.
The Colorado Educational and Cultural Facilities Authority's purpose is to provide financing for educational and cultural projects in Colorado. This is a state agency, meaning that the state of Colorado will technically own The Stanley Hotel.
Take a Look at Colorado's Iconic Stanley Hotel, Which Inspired the Shining
Gallery Credit: Tanner Chambers
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