In a statement on Friday, actor and founder of the Sundance Film Festival, Robert Redford, announced the sale of Sundance Mountain Resort.
According to a press release, Redford sold the resort to Broadreach Capital Partners and Cedar Capital Partners. Some specifics of the agreement, including the sale price, have not been disclosed.
Redford founded Sundance Mountain Resort in 1969 and the sale does not include any of the other Sundance entities, including the iconic Park-City based film festival.
Broadreach Capital and Cedar Capital Partners will take over ownership and operation of all of the resort's assets, including resort buildings, ski lifts, on-site dining venues, and event spaces.
In conjunction with this announcement, the Redford family has entered into a partnership with Utah Open Lands to put over 300 acres of pristine wildlife habitat, streams, and wetlands into permanent protection. The new Redford Family Elk Meadows Preserve includes the meadow below Stewart Falls at the base of Mt. Timpanogos, along with popular trails for hiking and cross-country skiing.
In a written statement, Redford said, “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.”
The 2021 Sundance Film Festival is scheduled to run from January 28th to February 3rd and will take place mostly online and at satellite venues across the country due to the COVID-19 pandemic. Park City is still the home of the festival and limited screenings will be offered at The Ray Theatre.
For more information about the 2021 festival, click here.
