More than 50 years after founding Sundance Mountain Resort, Utah’s adopted legend of the silver screen Robert Redford has agreed to sell the resort to a pair of companies, Broadreach Capital Partners and Cedar Capital Partners. Located in the shadow of Mount Timpanogos, Sundance has long maintained an independent identity amid a flurry of corporate consolidation in the ski industry. Fans of the resort’s unique atmosphere will likely feel anxiety about the changing of the guard—a duo of capital investment firms doesn’t have the quite the charm of the Sundance Kid, himself—but Redford shared assurances Sundance’s character would endure.
“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,” Redford said in the resort’s press release.
Included in the announcement is news Redford and his family are establishing the Redford Family Elk Meadows Preserve. The preserve will provide permanent protection to 300 acres of wildlife habitat, streams and wetlands near Stewart Falls through a partnership with Utah Open Lands. Sundance had always positioned itself as a resort with natural beauty as its centerpiece, and the Preserve represents Redford’s attempt to secure and protect that legacy.
Broadreach and Cedar are saying all the right things as of now. “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,” Philip Maritz, managing director of Broadreach Capital Partners said in a press release. With that in mind, a vague statement about balancing development and sustainability coming from a Palo Alto and New York City based real estate investment firm is unlikely to assuage fears people have about new corporate ownership of a formerly independently owned resort.
Just like the Sundance Kid says, “Change is inevitable,” but it’s still a tough pill for longtime Sundance skiers to swallow. There’s no word on how the ownership change will affect resort operations or season pass affiliation at this time, but we will update this story if that information becomes available.
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