The Colorado Educational and Cultural Facilities Authority (CECFA) created a non-profit subsidiary for its bond-financed purchase of a historic hotel that inspired Stephen King’s The Shining.
The authority’s board on Wednesday passed a resolution to form the Stanley Partnership for Art, Culture, and Education, LLC, to facilitate the financing, ownership, and operation of the Stanley Hotel in Estes Park, Colorado.
Mark Heller, CECFA’s executive director, said work continues on the size, timing, and structure of revenue bonds the authority would issue, with the proceeds loaned to the subsidiary. Members of the financing team are underwriter RBC Capital Markets, bond counsel Kutak Rock, and financial advisor PFM, he added.
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The authority’s
The subsidiary will hire the hotel’s current owner, Grand Heritage Hotel Group, to operate and manage the facility.
The hotel group’s plans include the Stanley Film Center, which it says “will be the permanent
A television mini-series based on The Shining used the Stanley Hotel, which is located just outside Rocky Mountain National Park, as a filming location. Timberline Lodge in Oregon stood in for the exterior of The Shining’s Overlook Hotel in Stanley Kubrick’s 1980 movie version, which was mostly filmed in England.