Stanley Hotel sold today for $400 million

Story by Patti BrownIn the largest real estate deal in the Estes Valley since Lord Dunraven acquired more than 7,000 acres in 1874 and then sold the land in 1908 to F. O. Stanley for $80,000, the Stanley Hotel was sold today for $400 million.The new owner is the Stanley Partnership for Art Culture and Education, LLC – which will be known as SPACE – a public-private partnership with the Colorado Educational and Cultural Facilities Authority, private bond investors, John Cullen, who has owned the hotel for 30 years, and new manager Sage Hospitality Group.Cullen sat down for an interview with the Estes Valley Voice Wednesday afternoon in front of the fireplace in the 217 Wine Bar to talk about the sale.While Cullen will not be involved in day-to-day management, he will serve as the chair and CEO of SPACE, which is designed to be a regional economic and cultural engine that will amplify tourism in the Estes Park community and the State of Colorado.Read full story here:Visit Estesvalleyvoice.com