After nearly a year of public conversation and far more time spent in private scenario planning and dreaming of a deal, the Town of Nederland, CO, has inked a letter of intent to acquire Eldora Mountain Resort from mountain resort consolidator Powdr. Sources indicate that period negotiations for the acquisition of the mountain town’s biggest recreation draw commenced last fall.
Powdr is a private company that owns and operates Boreal and Soda Springs in California, Copper Mountain in Colorado, Mt. Bachelor in Oregon, SilverStar Mountain in British Columbia, and Snowbird in Utah.
The terms of the deal were not disclosed, and Nederland’s Board of Trustees (the Board) indicated that the purchase price would remain confidential.
A Frequently Asked Questions (FAQs) sheet published by Nederland indicates that negotiations will continue on the fine points based on the rules outlined in a mutually agreed-upon term sheet. The Town’s Board believes the deal could close by early October, according to the latest FAQs.
The Town of Nederland will reportedly issue municipal revenue bonds backed only by the resort’s earnings, which is profitable enough to service the debt, the Board indicated. The Town’s Board stated that local tax dollars will not support revenue bonds, explaining that this approach avoids risk to taxpayers. The Town said it will also explore opportunities for grants and private-sector funding to help reduce the total debt.
“The seller has opened its books to town leadership, underwriters and advisers, allowing us to fine-tune projections. While we cannot disclose exact figures, we can share that mountain revenue will cover our municipal bond obligation,” the Board indicated in the FAQs. “Current models show we can build a reserve of $10 million in the first couple of years. This reserve will sit in the Mountain Recreation Enterprise Fund to pay debt obligations during poor snow years.”
The Town also projects some excess cash flow; however, it noted that this does not become meaningful until the subordinate bonds are paid off — something they aim to accomplish within 10 years, but hopefully sooner through grants and donations.
“After that, free cash flow will fall between $2M – $5M+, and we can reinvest those funds in streets, sidewalks and water infrastructure,” the FAQs explained.
Powdr will continue to support the Mountain for the first two winters and summers, according to the Eldora Mountain Acquisition FAQs 3.0 published July 8, 2025. The Town’s Board said it will partner with 303 Ski, a coalition of Front Range ski industry veterans, who have been instrumental in vetting operating plans, conducting financial modeling and assessing community programming.
The Town of Nederland said it will also create a new employment position titled “Deputy Town Manager, Executive Director of Mountain Operations” to interface between the Mountain and the Town Government.
“There are many treasures that make the Town of Nederland and the Peak-to-Peak Region a unique and incredible place to live,” said Nederland Mayor Billy Giblin. “Eldora is one of those treasures. 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.
Eldora will stay on the Ikon Pass. Ikon sales provide a reliable revenue stream, and maintaining this as part of the funding is “essential to the financing plan.”
Image courtesy Eldora Mountain Resort
