Robert Redford sells Sundance Mountain Resort
Snowboarders prepare to ride Ray's Lift as opening day kicked off at Sundance Mountain Resort on Friday, Dec. 6, 2019, in Provo Canyon.
Skiers prepare to ride Ray's Lift as opening day kicked off at Sundance Mountain Resort on Friday, Dec. 6, 2019, in Provo Canyon.
Two skiers wait aboard a ski lift as opening day kicked off at Sundance Mountain Resort on Friday, Dec. 6, 2019, in Provo Canyon.
A skier glides down the mountain as opening day kicked off at Sundance Mountain Resort on Friday, Dec. 6, 2019, in Provo Canyon.
Skiers cheer nearby a lift as opening day kicked off at Sundance Mountain Resort on Friday, Dec. 6, 2019, in Provo Canyon.
Actor Robert Redford bought the land in Provo Canyon that would become Sundance Mountain Resort in 1969. On Friday, Redford announced the sale of the resort to Broadreach Capitol Partners and Cedar Capital Partners.
When Redford bought the land in 1969, the year of the famed Woodstock music festival, he was coming off of the release of “Butch Cassidy and the Sundance Kid.”
The name comes from Redford’s role in what would turn out to be one of his most popular movies.
The big push from investors around the time the land was bought was to quickly start commercializing it.
There were thoughts of building massive hotels and condominiums to fill up the space and make a profit.
Redford had other plans.
In an interview with the Sundance Institute, Redford said he was looking for a sense of place, a sense of community and a sense of home. He did not find this in Los Angeles, where he grew up.
“When I was a kid, there was spaces in between the various communities of Santa Monica, Beverly Hills and Hollywood,” Redford said in the interview. “And then when the war ended, that city that I loved began to change. When all of the money came back into our economy, suddenly there was pavement and skyscrapers. it felt like the city that I loved was sort of being slowly pushed into the sea.”
He began searching for that sense of place and found it while driving from Colorado to California.
After establishing the community he was searching for, Redford began welcoming in other artists and creators.
This led to the creation of the Sundance Institute and the Sundance Film Festival.
“People here come from all walks of life, but one belief is shared: our community should represent who we are and what we believe,” a quote from Redford on the Sundance Ski Resort website said. “Sundance is an arts community, a recreational community, a community of people who appreciate the beauty of nature and feel the responsibility to preserve it.”
Now over 50 years after purchasing the land that he turned into Sundance, Redford has sold it to Broadreach Capitol Partners and Cedar Capital Partners.
To revisit a famous phrase from “Butch Cassidy and the Sundance Kid,” locals might well be asking, “Who are these guys?” in reference to the new ownership group.
Broadreach Capitol Partners owns other properties including the Biltmore in Santa Barbara, the Carlyle in New York and the Sunset Millennium in Hollywood.
Cedar Capital Partners owns a number of properties around the world including the Monte Carlo Grand in Monaco, the Savoy in London, the Hotel Du Louvre in Paris and more.
“As stewards of this unique place, it has always been my vision that the Sundance Mountain Resort would be a place where art, nature and recreation come together to make the world a better place — now and in the future,” said Robert Redford in a press release. “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.”
The press release stated that the two partners are intending to work closely with the community in Sundance to continue with the same mission Redford had.
Other plans include the enhancement of the skiing experience, expanded on-mountain amenities, increased hotel bed space and continued commitment to creative activities and cultural programming.
“In 1969, Robert Redford had a courageous vision to create a haven for discovery and new ideas, immersed in a rich cultural history honoring individuality and creativity,” said Philip Maritz, managing director of Broadreach Capital Partners, in the release. “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.”
The sale only includes the assets of Sundance Mountain Resort and does not impact Redford’s involvement or the structure of the Sundance Institute, the Sundance Film Festival, Sundance Catalog, Sundance TV or the Redford Center.
According to the release, Redford and his family have entered into a partnership with Utah Open Lands to put over 300 acres of pristine wildlife habitat, streams, and wetlands into permanent protection. Located at the base of Mt. Timpanogos, the newly established Redford Family Elk Meadows Preserve includes the meadow below Stewart Falls, along with popular trails for hiking and cross-country skiing.
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