The Stanley Hotel sold with new management and future expansions ahead

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 purchased the property through its subsidiary The Stanley Partnership for Art Way of life and Tuition LLC along with private bond investors the former owner and Sage Hospitality Group Sage was also stated as the hotel s new management on Thursday The Stanley Hotel represents everything we look for in a landmark property a rich history innovative programs and deep population connections We see so much opportunity and look forward to creating memorable guest experiences declared Daniel del Olmo president and co-CEO of Sage Hospitality Group Built in by inventor Freelan Oscar Stanley the -acre property features 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 million bond offering to fund a major expansion of the two historic lodging buildings and a new square foot event center The two lodging buildings will be extended with a -room expansion and connected by a new porte-cochere arrival The event center will include an -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 Directors Lab starting next week In selecting Sage Hospitality Group we identified 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 mentioned 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 million over the next years in encouragement of CECFA s mission For the last 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 years and can t imagine a better way to both preserve and grow it for generations to come Cullen disclosed Related Articles Blinded by Showbiz The Stanley Hotel and the Sundance Film Festival shouldn t get millions in state investments Colorado agency approves M in bonds for purchase of The Stanley Hotel Stanley Hotel s horror-themed weekend drops visitors into Insidious and The Purge Colorado agency procedures up to buy Stanley hotel after Arizona nonprofit sale falls through The ax from The Shining will soon take up residence at the Stanley Hotel The event center is funded in part through a million sales tax increment pledge from the Colorado Office of Economic Enhancement and International Commerce OEDIT and the Colorado Economic Growth Commission s EDC Regional Tourism Act effort The EDC also approved a million grant to promotion 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 Get more business news by signing up for our On The Block newsletter