Philip Anschutz has been interested in The Broadmoor Hotel for years. He remembers his first visit there with his father when he was just 5-years-old.
On Thursday it was announced that Anschutz bought The Oklahoma Publishing Company, the company that owns The Broadmoor, where just two weeks ago he spent time with his own 8-year-old grandson.
“I am extremely pleased with my new affiliation with The Broadmoor,” Anschutz said in a prepared announcement.
When news that The Oklahoma Publishing Company and its assets had been sold and Denver businessman Anschutz would take over as owner of the long-time family owned and award-winning newspaper, The Oklahoman, Anschutz was at The Broadmoor meeting with its staff.
Did Anschutz buy the publishing company just to get The Broadmoor?
“I wouldn’t go that far,” said Steve Bartolin, president and CEO of The Broadmoor. “There are some great assets in The Oklahoma Publishing Company. The Broadmoor was an important aspect of that, but The Oklahoman is a great newspaper.”
The Oklahoma Publishing Company had not been up for sale. But, when Anschutz made an offer to its chairman and CEO Christy Everest, she felt compelled to take it to the privately-held company’s share holders. Her family owned that company since 1908. In 1988 the company acquired 100 percent of The Broadmoor.
Everest, who was also on hand at The Broadmoor Thursday morning, explained that once she got to know Anschutz she felt his interests in the company aligned with the family’s interests.
“There are amazing similarities between the interests and values of The Anschutz Corporation and those of OPUBCO,” she said in a prepared statement.
She reiterated those sentiments to The Broadmoor’s staff.
“She really feels Anschutz is prepared to be the right owner for the property,” Bartolin said.
The deal has been in the works since June when Anschutz first approached Everest. A sale price was not announced. The Broadmoor Hotel has a market value of $52 million, according to the El Paso County Assessors records. That does not include the value of the 40 properties owned by The Broadmoor Hotel.
Anschutz regularly spends time at The Broadmoor. He has studied the history of The Broadmoor, which opened in 1918 and was founded by Spencer and Julie Penrose. That made Bartolin feel at ease with the new ownership. Anschutz, Bartolin said, even expressed interest in becoming more involved in the Colorado Springs Community.
“I’ve gotten to know him through this process,” Bartolin said. “He’s an impressive person.”
Anschutz told The Broadmoor staff that his 8-year-old grandson was impressed with their stay and especially liked the food. “Have you ever thought about buying this place?” his grandson said to him. “Yes, I have,” he told the boy.