The sale of the historic Stanley Hotel in Estes Park to a public-private partnership involving the Colorado Educational and Cultural Facilities Authority closed on Thursday.
CECFA, which was established by the General Assembly of the State of Colorado in 1981, purchased the property through its subsidiary, The Stanley Partnership for Art Culture and Education LLC, along with private bond investors, the former owner and Sage Hospitality Group. Sage was also announced as the hotel’s new management on Thursday.
“The Stanley Hotel represents everything we look for in a landmark property: a rich history, innovative programming, and deep community connections. We see so much opportunity and look forward to creating memorable guest experiences,” said Daniel del Olmo, president and co-CEO of Sage Hospitality Group.
Built in 1909 by inventor Freelan Oscar Stanley, the 68-acre property features 191 rooms across multiple accommodations, including the main hotel, The Lodge, Aspire and The Residences at The Stanley.
Plans for the coming years include a nearly $400 million bond offering to fund a major expansion of the two historic lodging buildings and a new 65,000 square foot event center. The two lodging buildings will be extended with a 65-room expansion and connected by a new porte-cochere arrival.
The event center will include an 864-person auditorium and a horror film museum curated by horror movie powerhouse Blumhouse Productions, featuring new exhibits approximately every other month.
The Stanley will also host the Sundance Institute’s 2025 Directors Lab starting next week.
“In selecting Sage Hospitality Group, we found a partner who shares our vision for preserving The Stanley’s legacy and embracing innovation. Their experience with leisure properties around the U.S., and historic properties such as The Oxford in Denver, earned our trust,” said Mark Heller, executive director for CECFA.
“This collaboration ensures that The Stanley will continue to be a Colorado destination for generations to come. Through this partnership, we expect to generate $45 million over the next 36 years in support of CECFA’s mission.”
For the last 30 years, under the guidance of former owner John Cullen, the Stanley is famously known as the inspiration for Stephen King’s “The Shining” and has become a popular destination for families, corporate events, locals and film buffs.
As the chairman and CEO for SPACE, Cullen will remain actively involved in these new projects. “I have owned The Stanley for almost 30 years and can’t imagine a better way to both preserve and grow it for generations to come,” Cullen said.
The event center is funded in part through a $46 million sales tax increment pledge from the Colorado Office of Economic Development and International Trade (OEDIT) and the Colorado Economic Development Commission’s (EDC) Regional Tourism Act program.
The EDC also approved a $1 million grant to support the purchase of the Stanley Hotel by CECFA.
Listed on the National Register of Historic Places and a member of Historic Hotels of America, The Stanley Hotel will join Sage’s portfolio, which includes Perry Lane in Savannah, One Ocean Resort in Florida, The Lodge at Sonoma, Hotel Alpenrock in Breckenridge and The Asbury Collection on the New Jersey Shore.
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Originally Published: May 15, 2025 at 3:40 PM MDT
