Key facts
- Boulder committed $34 million in incentives to host the Sundance Film Festival.
- Some homes in Boulder are listed for over $5,000 per night during the festival.
- Boulder's hotel capacity is around 2,900 rooms, significantly less than Park City's demand.
- Over 260 festival-specific short-term rental licenses have been issued, with more applications pending.
- Airbnb searches for lodging in Denver and surrounding towns have increased significantly.
Boulder is facing significant challenges with accommodation costs as it prepares to host the Sundance Film Festival, a move that came with a $34 million investment from the city and its partners. While the relocation was expected to offer more affordable lodging than Park City, Utah, initial listings show prices exceeding $5,000 per night for some homes. Property managers anticipate a potential decrease in prices as more listings enter the market, but current high rates are already prompting some attendees to seek housing elsewhere.
This situation could fragment the festival experience, increase traffic, and reduce economic benefits for local businesses, contrary to the city's expectations. Nancy Willen, owner of Acme Public Relations, noted that finding affordable housing near downtown Boulder for her team has been a hurdle. Boulder's limited hotel capacity of approximately 2,900 rooms, combined with historical short-term rental rules tied to primary residences, has contributed to the tight market. The city council has since passed an ordinance to allow more short-term rentals during the festival, issuing over 260 licenses with more pending.
Some property owners are listing homes with a "make me move" philosophy, setting extremely high prices to justify the inconvenience of relocating. Ross Bowdey of Fox Property Management described this approach as unwelcoming. Meanwhile, companies like VelareLX are emerging to cater to the luxury market, aiming to connect high-net-worth individuals with upscale residences. VelareLX's managing partner, Rich Reasons, emphasized a budget-first approach to pricing. Other listings show rates doubling during the festival period compared to the week prior, leading some film industry professionals to decline accommodations and consider alternative arrangements.
Kate George of Home Host Concierge acknowledged that Boulder's lodging market is inherently seasonal and event-driven, with prices expected to adjust as more data becomes available. Airbnb data indicates a shift in guest searches, with a 10% increase in Denver accommodations and over 100% increase in surrounding towns like Louisville and Nederland. Airbnb's Colorado policy manager, Alex Folsom, supports increasing lodging options to help stabilize prices and benefit the local community. Sundance Institute's Paula DuPré Pesmen highlighted affordability and accessibility as important considerations for the festival.