Similar Stories to Colorado Agency Steps Up To Buy Stanley Hotel After Arizona Nonprofit Sale Falls Through on Bing News

A deal for the state of Colorado to purchase the famous Stanley Hotel in Estes Park that inspired Stephen King’s “The Shining” is officially on the table. The Colorado Educational and Cultural Facilities Authority stepped up with a plan to buy the haunted hotel after a deal to sell the Stanley to an Arizona nonprofit fell through, said CECFA Executive Director Mark Heller. Heller said the authority hopes to wrap up the sale in the coming months, securing the government agency as the owner of the hotel and borrower of the bonds that will help finance 60 new rooms, a fresh restaurant and the construction of the Stanley Film Center. Instead of selling the hotel to Arizona’s Community Finance Corporation and taking ownership after the nonprofit paid back the bonds, CECFA will create a subsidiary and become the borrower of the bonds directly instead.

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