The iconic Colorado hotel that served as inspiration for Stephen King's novel "The Shining" and the 1980 film starring Jack Nicholson could soon be owned by an Arizona organization.
The Stanley Hotel, located an hour and a half northwest of Denver in Estes Park, is expected to be sold to Tucson-based Community Finance Corp. sometime in 2024, according to multiple news reports.
The Arizona-based nonprofit works with governments to build and maintain real estate across the country. Community Finance Corp. plans to issue as much as $475 million in tax-exempt bonds to buy the property, pay off existing debt, renovate the hotel and construct the long-planned Stanley Film Center, Colorado Public Radio reported.
The bonds are expected to be issued through the Colorado Educational and Cultural Facilities Authority.
