Nederland Signs Letter Of Intent To Buy Eldora From POWDR
In a move that could reshape the local economy and outdoor recreation landscape, the Town of Nederland has signed a Letter of Intent (LOI) with POWDR, the current owner of Eldora Mountain Resort. The non-binding agreement signals the start of formal discussions exploring a potential partnership or acquisition that could give the town a more direct role in the operations and future of the resort.
A Community and a Resort at a Crossroads Nestled in the Front Range of the Rocky Mountains, Eldora has long served as Boulder County’s backyard ski destination. Now, town officials and POWDR representatives are considering a range of collaboration models that might involve public-private investment, sustainability upgrades, and expanded year-round outdoor access.
“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.”
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 has partnered with a local group, who are veterans of the ski industry, and we have been invited to complete due diligence on the mountain, related to the real estate purchase and financial transaction. In addition, they have been invited to submit a final offer. If the final offer is accepted, then Nederland will have to provide earnest money to secure the mountain. There will be various Board of Trustees votes along the way, starting with a January 7th meeting.
For those who missed it, Brent Tregaskis, President and GM of Eldora Mountain, wrote in his letter to the community that “POWDR is selling these resorts to balance its ski business with new ventures in the National Parks sector and with its Woodward action-sports brand, in alignment with its founder’s and stakeholders’ goals.” In the same letter, Mr. Tregaskis, wrote, “Eldora is profitable—with strong visitation, an amazing community of staff and guests, and great potential—and should be a very attractive purchase.”
To read the full letter, please visit: https://www.eldora.com/the-mountain/about-contact-sustainability/blogs-and-news/a-letter-from-eldora-gm
However determining the profitability of the Eldora Mountain Resort is a crucial step in the evaluation process. This comprehensive due diligence process will also include evaluating the transaction from all angles, including the legal implications and operational considerations associated with the acquisition.
To address operational needs, the Town would lean on the expertise of local professionals and industry leaders to build a management team specifically equipped to run the mountain as a business. Eldora would operate independently from the Town’s day-to-day administration, ensuring it is managed by those with the experience and skills necessary to oversee a ski resort effectively. This approach allows the Town to focus on its role as a steward of the asset while empowering experts to run the resort in a way that supports financial sustainability, community benefit, and environmental stewardship.
While the LOI doesn't guarantee a final agreement, it opens the door to deeper conversations on zoning, infrastructure, and long-term stewardship of one of Colorado’s most accessible ski areas. Town administrators say the move reflects growing interest in localizing control over tourism assets and reducing the environmental footprint of mountain recreation.
Negotiations are expected to continue over the next several months, with both parties promising public engagement sessions. Key issues on the table include transit links to Boulder, affordable workforce housing, and enhanced trail access for summer visitors.
This initiative comes amid broader trends in the ski industry, where destination resorts are exploring sustainability and resilience against climate change. If successful, the partnership could become a model for other mountain towns seeking a voice in their recreational destiny.
