SUNDANCE, UTAH (DECEMBER 11, 2020) – Founder of Sundance Mountain Resort, Robert Redford has agreed to sell the Sundance Mountain Resort to Broadreach Capital Partners and Cedar Capital Partners, according to a press release.
The agreement, announced Friday is the result of a long-term, strategic plan designed to preserve and build upon the Redford legacy at the resort, including a continued commitment to balancing responsible development and land preservation, according to the press release.
According to the press release, the 2,600-acre resort includes 1,845 acres of land preserved through a conservation easement and protective covenants.
“As stewards of this unique place, it has always been my vision that the Sundance Mountain Resort would be a place where art, nature and recreation come together to make the world a better place – now and in the future,” said Robert Redford.
He added: “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.”
The press release also stated that Robert Redford and his family have entered into a partnership with Utah Open Lands to put over 300 acres of pristine wildlife habitat, streams, and wetlands into permanent protection.
The newly established Redford Family Elk Meadows Preserve includes the meadow below the iconic Stewart Falls, along with popular trails for hiking and cross-country skiing.
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, according to the press release.
Among their plans, the press release said Broadreach and Cedar aim to enhance the ski experience, expand on-mountain amenities, explore increasing the hotel bed base, and further the commitment to creative activities and cultural programming.
“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,” said Philip (Flip) Maritz, managing director of Broadreach Capital Partners. “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.”
According to the press release, the transaction includes all assets of Sundance Mountain Resort, including the resort buildings, ski lifts, on-site dining venues, and event spaces. It does not affect the structure of, or Robert Redford’s involvement in, the Sundance Institute and Sundance Film Festival, Sundance Catalog, Sundance TV, or the Redford Center.
The resort says they will continue to host workshops and events organized by the Sundance Institute and the Redford Center, including serving as a location for the annual Sundance Film Festival. Other terms of the agreement were not disclosed.
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