ESTES PARK, Colo. — The iconic Stanley Hotel in Estes Park will be sold to Arizona-based nonprofit Community Finance Corporation, a state agency confirmed to 9NEWS.
The Colorado Office of Economic Development and International Trade said as part of an update to the Colorado Economic Development Commission, hotel owner John Cullen shared that the property and revenues will be used as collateral and repayment for bonds issued by the Colorado Educational and Cultural Facilities Authority.
The office said the nonprofit would use the proceeds of the bond to purchase the property, retire existing debt, fund the construction of Stanley Film Center buildings, provide upgrades to modernize the property and support increased visitation over time.
The Stanley Hotel has been a Colorado staple for many years. It was an inspiration for Stephen King's book "The Shining."
In 2015, the hotel announced they would be opening the Stanley Film Center, a horror-themed museum. They said the project will include an auditorium, an interactive museum, rotating exhibits, classrooms and post-production suites. The museum will also feature the axe carried by Jack Nicholson, which was donated to the hotel in 2022.
From May 2022: Prop from 'The Shining' donated to Colorado hotel
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