Nederland buying Eldora Ski Resort
Nederland is making strides towards acquiring the Eldora ski resort, a move that could significantly boost the town’s finances. The town, located about 16 miles west of Boulder, recently announced that it has signed a letter of intent for the purchase. This agreement sets the stage for negotiations leading to the final purchase, which could be completed by October if all goes smoothly. Nederland is looking to buy Eldora from POWDR, a Utah-based company that took over the ski resort in 2016.
The town’s plans include annexing the mountain, giving them control over land use and the ability to collect sales tax. This move is expected to generate around $2 million in annual revenue for the town’s general fund, with projections suggesting that free cash flow could exceed $5 million once the debt is settled.
To finance the acquisition, Nederland intends to issue municipal revenue bonds backed by the resort’s earnings, as the ski resort is profitable enough to service the debt. The Eldora team is enthusiastic about the future prospects of this new partnership with the Town of Nederland, according to a statement released to the Daily Camera.
The exact sale price remains confidential, but Nederland’s Board of Trustees must approve a bond amount covering the acquisition costs. The town aims to pay off subordinate bonds within 10 years, with the possibility of accelerating this timeline through grants and donations.
During the transition period, POWDR will continue to support Eldora for the first two winters and summers. All current Eldora staff will become Nederland employees, adding approximately 700 people to the town’s municipal staff. Once POWDR’s contract expires, 303 Ski will take over mountain operations.
Nederland is also creating a new position, “deputy town manager, executive director of mountain operations,” to oversee the management of the mountain and town government. The town is optimistic about building a reserve of $10 million in the initial years of ownership, which will serve as a cushion for debt repayment in case of a poor snow year.
Mayor Billy Giblin expressed his vision for Eldora, aiming to build on its legacy and create a community-driven, sustainable, year-round destination that supports local jobs, outdoor industries, and infrastructure development.
Original Publication Date: July 8, 2025 at 5:24 PM MDT
