Potential Buyers Engage Community Over Future of Holland Lake Lodge
A Utah investor with ties to Montana and a local nonprofit have separately expressed their interest in purchasing the historic lodge in the Swan Valley
By Micah Drew
As a kid growing up in Great Falls, Eric Jacobsen says he spent many summer weekends camping in the Swan Valley near Seeley and Holland lakes. His parents celebrated their 40th wedding anniversary at Holland Lake Lodge and when his mother passed away, their family returned to the lodge and the community center in the nearby hamlet of Condon to celebrate her life.
“I’m here because I care,” Jacobsen, who splits time between homes in Whitefish and Park City, Utah, told a group of 19 Swan Valley residents during a meeting at the Condon Community Center on Sept. 25. “My intent is to preserve and sustain the lodge experience.”
Jacobsen is a private equity investor who cofounded impact investment firm Gratitude Railroad, which aims to operate “at the intersection of profit and purpose,” according to Jacobsen. That’s the mindset he hopes to bring to Holland Lake after signing a letter of intent to purchase the lodge property earlier this year.
Holland Lake Lodge and its longtime owner and operator Christian Wohlfeil came under public scrutiny in 2022 when Wohlfeil announced a partnership with Utah-based “adventure lifestyle” company POWDR to expand the lodge’s physical and operational footprint. POWDR currently owns 10 ski resorts around the country and was recently awarded a 10-year concessionaire contract at Zion National Park to operate lodging, food, retail and visitor services.
A development proposal submitted by POWDR and Wohlfeil to the U.S. Forest Service included plans to triple the nightly capacity of Holland Lake Lodge by building a new 28-room lodge and 26 cabin structures.
The expansion plan drew public outcry with more than 6,000 submitted comments from elected officials, conservation groups and individuals. In addition, inconsistencies in the permit application and questions about the ownership structure led the Forest Service to ultimately reject the plan.
Holland Lake Lodge operates on the Flathead National Forest with a special-use permit, last reissued in 2017. A permit application submitted by POWDR when the company was intending to take over ownership of the lodge was withdrawn last year, and Wohlfeil listed the lodge for sale for $3.5 million.
Jacobsen said when the POWDR proposal first came to public light, he made a comment on a social media site stating his opposition and throwing out the idea that he would buy the lodge to stop the expansion.
“I am here, and I stepped forward, because I truly believe the lodge should not be developed in the way POWDR wanted to develop it,” Jacobsen told the Beacon.
Wohlfeil, who retains a controlling 80% stake in the business, later contacted him about making an offer, according to Jacobsen, but a submitted letter of intent went without response. Then, POWDR contacted Jacobsen earlier this year asking him to resubmit the letter, which he did, and POWDR accepted.
Under questioning from community members at this week’s meeting, Jacobsen said he has no personal relationships with POWDR, but his business partner in the Holland Lake Lodge venture, Thomas Knowles, is friends with POWDR CEO Justin Sibley.
In the three meetings Jacobsen has held with the Swan Valley community so far, he has been light on details for the lodge’s future, but says he has “ideas for a vision.”
“My belief is that the existing business model doesn’t work. Something has to be done differently,” he said, citing his examination of the lodge’s financials. He threw out several possibilities to increase revenue including expanding the restaurant, increasing the number of special events like weddings, changing the pricing model, and more.
Rather than lay out a fully formed operating plan for the Lodge, Jacobsen said his main intent for the series of meetings was to “ideate” with the community. He wants to learn and hear from all stakeholders in the property, learn what’s on the community’s ‘don’t-do’ list, and ultimately shape the future around community ideals.
“The lodge is magical and the lodge experience is precious and should be preserved for generations to come. To do that I will work with anyone who shares that goal,” he told the Beacon.
He also continually emphasized that he disagrees with the former expansion plan proposed by POWDR and does not plan to expand the lodge’s current footprint.
To purchase and operate the Lodge, Jacobsen will have to apply for a new special-use permit and submit a Master Development Plan to lay out the long-term future plans for the property. Those projects, which can include development and restoration work, will be subject to the public comment process, but Jacobsen hopes by voluntarily involving the public in the early stages, he’ll be able to avoid the problems that arose with POWDR’s plan.
“I have a weird hubris that I think I can navigate the anger and mistrust that exists here. I might be wrong, I might be really wrong, but I weirdly think I can do this,” he said, adding that he expects the process to develop the plan will take a long time. “My intention is not for this to be something that I put money into, fix and then go off on my merry way. I think this is something where the community will be stuck with me for a long time.”
Jacobsen has currently scheduled three additional public meetings at the Condon Community Center on Oct. 2 at 10 a.m.; Oct. 23 at 6 p.m. and Nov. 20 at 6 p.m.
During the first meeting Jacobsen held on Sept. 3, another group announced its own intention to purchase the lodge.
Grace Siloti, co-owner of Mission Mountains Mercantile and president of the recently formed nonprofit Stewards of the Swan Valley, told a crowded community hall that her organization was completing its due diligence and was close to making an offer on the lodge, which the nonprofit would then operate.
“It’s all about saving Holland Lake Lodge,” Siloti told the Beacon. “But it’s more than that, it’s about preserving our environment, preserving what’s left of one of the last pure water systems in Montana.”
Along with Bill Lombardi, who helped form the group Save Holland Lake to oppose the POWDR expansion, Siloti has spent the last year looking at models of nonprofits running similar camping and lodging amenities in the area. While the nonprofit continues to seek information and model operational costs, they provided few details about the future.
“We want to make sure it pencils out, that it makes enough money to break even and that we can put money into needed maintenance,” Lombardi said. “The rustic charm of the lodge is what’s most appealing to people. That’s what people want, they don’t want a Holiday Inn or a big resort. They want to experience a rustic setting in Montana.”
Siloti said that as soon as a business plan comes together, Stewards of the Swan Valley will present it to the community, which she said she believes will be receptive.
“I think our vision will be appealing to the people who care about Holland Lake. We want to keep the footprint the same, protect wildlife and the ecosystem and make sure all Montanans, and Americans, can afford it,” she said. “I live locally, I know everybody here, and I think there are so many people here ready to help out and work at the lodge. We’re a group of doers, not talkers.”
“When you love something, you have to be proactive about it,” Siloti continued. “It’s a big responsibility to take on something like this. I feel a huge responsibility to the people. We can’t let them down. We want people to have confidence in us for generations to come.”
Christian Wohlfeil declined to comment about any discussions with potential buyers or the current ownership structure of Holland Lake Lodge, LLC, but did confirm that the lodge remains for sale at a listed price of $3.5 million. Due to deficiencies in the property’s wastewater treatment system, Holland Lake Lodge did not provide public services in 2024, its 100th anniversary year.