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 in the United States, plan to borrow nearly US$300mil (RM1.32bil) 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.
