“Change is inevitable, and for several years my family and I have been thinking about a transition to new ownership for the resort. We knew that at the right time, and with the right people, we could make the transition. Broadreach and Cedar share our values and interest in maintaining the resort’s unique character, while honoring its history, community and natural beauty. This makes them well-suited to ensure that future generations can continue to find solace and inspiration here.” –Robert Redford
Robert Redford announced on Friday that he has agreed to sell Sundance Mountain Resort to Broadreach Capital Partners and Cedar Capital Partners. KSL reports the sale included a commitment to balancing responsible development and land preservation. Currently, 1,845 acres of the land has been preserved through a conservation easement and protective covenants. The 2,600 acre resort was founded more than 50 years ago by Redford.
The new owners, Broadreach and Cedar “intend to work closely with the Sundance community to build upon the attributes that have made the resort a one-of-a-kind place: a spectacular setting with nature as the main attraction; slow, thoughtful, low-density, and measured growth; and, a central commitment to sustainability in all its forms.” Broadreach and Cedar press release states they plan to expand on-mountain amenities and potentially increase hotel beds and offer cultural programs.
“In 1969, Robert Redford had a courageous vision to create a haven for discovery and new ideas, immersed in a rich cultural history honoring individuality and creativity. We are deeply honored to assume stewardship of this magical resort and its unique programming and are committed to maintaining the balance between responsible development and land preservation that the Redford family has passionately cultivated. We intend to thoughtfully enhance this experience and continue the Redford commitment to guests, staff, the Sundance Institute and community, and most importantly, the natural environment itself.” -Philip Maritz Managing Director Broadreach Capital Partners
The purchase of Sundance Mountain Resort includes all of its assets such as resort buildings, ski lifts, on-site dining venues, and events spaces. Redford’s involvement in the the Sundance Institute of the Sundance Film Festival will remain the same and the resort will continue to be a venue for workshops and events hosted by Sundance Institute and the Redford Center. The purchase price was not disclosed….any guesses?
images from sundanceresort.com