Colorado Town Considers Purchasing $100MM+ Ski Resort

The town of Nederland has published a lengthy FAQ to explain their reasoning behind their potential bid for Eldora.

Among the details provided, Nederland believes that Eldora Mountain Resort will sell for between $100 million and $200 million, a hefty price tag for a town of roughly 1,500 residents. The FAQ addresses how the town will pay for the resort with four avenues to, "create a responsible capital stack." The information from the original FAQ document has been transcribed below:

"Grants: We are pursuing various federal and state grants aimed at economic development, environmental conservation, rural infrastructure, and workforce development. These grants have the potential to help us raise tens of millions of dollars.

Public-Private Partnerships (PPPs): The town will partner with a private entity or entities experienced in managing ski resorts. In exchange for providing capital, the private partner(s) might share in the profits or be given a management contract.

Crowdfunding and Sponsorships: Perhaps one of the strategies we are most excited about is community crowdfunding. This would allow locals to contribute to the acquisition in exchange for perks (e.g., lifetime ski passes). Corporate sponsorships and naming rights for ski trails or lodges would also bring in additional revenue.

Philanthropy and Impact Investing: The town will also seek contributions from philanthropists or engage with impact investors interested in generating positive social and environmental returns."

Outsiders might wonder how a town in Colorado expects to manage and operate a ski resort without prior experience, but the FAQ addresses this question as well.

The town of Nederland will opt to outsource management to a private company with ski resort experience. The town will retain ownership, but will delegate responsibilities, according to the FAQ.

Similar to the Bend community-led effort to purchase Mt. Bachelor, Oregon from POWDR, the town of Nederland wants its residents involved if it is to purchase Eldora. Public meetings, voting on budgets, and a possible Citizen Advisory Committee are suggested in the FAQ document.

The town also ensures that many of its initiatives at Eldora will be focused on the local community, including: affordable housing and childcare for resort employees, high quality work benefits (healthcare, etc.), further economic development, and even year-round mountain access (maybe a mountain bike park...?).

Residents of Nederland will have their first opportunity to provide feedback on the proposed acquisition of Eldora tonight, Tuesday, November 19, 2024 at The Board of Trustees meeting at 7 p.m. at the Nederland Community Center, or online via Microsoft Teams.

POWDER will be keeping a close eye on the town of Nederland and the sale of Eldora Mountain Resort. It's an interesting time for the ski industry as the ownership of many of our favorite ski resorts is shifting.

Could the sale of Killington, Eldora, and Bachelor signal the beginning of a renaissance of community/publicly-owned ski areas? Maybe!

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