[[{“value”:”
**Nederland Purchases Eldora Ski Resort for $120 Million**
The town of Nederland, Colorado, has made a significant investment in its future by purchasing the Eldora Ski Resort for $120 million. Located just up the mountain from Boulder, the resort was acquired from Powdr Corp., a major player in the ski industry.
As part of the transition, Powdr Corp. will remain involved for the next two years, helping with staffing, IT systems, marketing, and capital planning. During this period, the town will pay Powdr $1 million annually for its support.
Following the transition, an organization called 303 Ski, led by experienced ski industry professionals, will take over the operational support for the resort.
Under the purchase agreement, Nederland is acquiring not only the resort property but also associated assets including water rights, land, intellectual property, and various licenses. Additionally, the town has agreed to repay Powdr’s remaining Eldora-related debts and cover seller transaction costs as part of the overall deal. The acquisition will be funded through municipal bonds.
The resort is expected to generate between $2 million and $5 million in free cash flow annually. Nederland plans to use a portion of this revenue to develop a $10 million reserve fund to safeguard against years with lower-than-expected earnings.
This strategic acquisition positions the town to benefit from tourism and ongoing resort operations while maintaining a strong financial cushion for long-term sustainability.
“}]]
