Bonds
‘Shining’ Hotel Borrows $300 Million to Cater to Horror Fans
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The hotel that inspired Stephen King to write his bestseller The Shining is turning to the municipal-bond market to pay for a sweeping overhaul in a bid to cement its status in the film industry, particularly among horror aficionados.
The new owners of the Stanley Hotel, which is in Estes Park, Colorado, roughly 40 miles (64 kilometers) from Boulder, plan to borrow nearly $300 million this month to expand its facilities, bond documents show. The majority of the offering, which will be issued through a state authority, is tax-exempt and will be backed by revenue generated by the hotel as well as other streams.