Industry News
The Town of Nederland, Colorado, is excited to announce that it has signed a letter of intent (LOI) with POWDR, the current owner of Eldora Mountain Resort, to purchase the iconic ski destination. This agreement marks a significant milestone for the community as it takes a bold step toward local ownership of one of Colorado’s most beloved ski resorts. This acquisition reflects the Town of Nederland’s commitment to fostering sustainable growth, enhancing recreational opportunities, and pursuing innovative economic vitality projects.
“There are many treasures that make the Town of Nederland and the Peak-to-Peak Region a unique and incredible place to live. Eldora is one of those treasures,” Mayor Billy Giblin from the Town of Nederland said. “Our vision is to build on Eldora’s legacy and create a community-driven, sustainable, and year-round destination that supports local jobs, outdoor industries, and infrastructure development. We are proud to partner with POWDR and 303 Ski to ensure a seamless transition and continued excellence in mountain operations.”
Justin Sibley, CEO of POWDR, added, “We are grateful for the opportunity to have stewarded Eldora for the past decade, and are confident that the Town of Nederland will carry forward the high-quality guest experience and employee culture that has made Eldora a beloved resort. We look forward to supporting the Town over the next two years to ensure operational continuity and a smooth transition.”
Key Details of the Acquisition
- Transition : POWDR will enter into a transition services agreement to support Eldora for at least two years following the sale, ensuring stability and operational excellence. The Town will create a new position, Deputy Town Manager, Executive Director of Mountain Operations, to serve as a liaison between the mountain and town government.
- Employee Transition: All current Eldora employees —approximately 700 in peak season—will become employees of the Town of Nederland, maintaining their pay and benefits with plans to enhance coverage through municipal resources. The Town is committed to preserving the strong culture and professionalism that define Eldora’s workforce.
- Financing the Purchase: The Town will finance the acquisition through municipal revenue bonds backed solely by Eldora’s earnings, including lift tickets, Ikon Pass revenues, food and rental sales. This structure protects local taxpayers by ensuring no tax dollars are used to service the debt. The Town will also pursue grants and private-sector partnerships to reduce overall debt.
- Economic and Community Impact: The acquisition will enable Nederland to annex the mountain, allowing for expanded land use control and potential sales tax revenue increases estimated at $1 million to $2 million annually. The Town plans to reinvest excess cash flow into community infrastructure such as streets, sidewalks, and water systems after bond obligations are met.
- Partnership with 303 Ski: Nederland has partnered with 303 Ski, a coalition of Front Range ski-industry veterans, who have been instrumental in vetting operating plans and financial models. 303 Ski is expected to support Eldora after POWDR’s transition services agreement ends.
- Maintaining Ikon Pass Access: Eldora will remain part of the Ikon Pass program, ensuring a stable and predictable revenue stream critical to the resort’s financial health.
A Shared Future for Eldora and Nederland
“This is a rare and exciting moment,” Dwight DeBroux of 303 Ski said. “When a town and a mountain are aligned, great things can happen. Not just for the resort, but for the entire community.”
Nederland’s Town Manager, Jon Cain, continues, “We envision a future where the mountain and town collaborate on workforce housing, childcare, transportation, and community programming. Our goal is to support Eldora’s employees with stability, strong benefits, and year-round opportunities, while preserving the mountain’s unique culture and commitment to sustainability.”
The Town of Nederland invites community members to stay engaged throughout the process. Nederland’s first town hall will be held Thursday, July 10th at 6:30 pm at the Community Center and you can access their FAQs 3.0
Public meetings and employee town halls will be held regularly, and questions can be directed to townadmin@nederlandco.org.
