Treatment of the bridged oxepine (±)‐1 with a large excess of powdered sodium methoxide in Et2O or with triphenylphosphonium methylide leads to the functionalized hydroazulenes (±)‐2 (69%) and (±)‐3 (81%). Regioselective and stereoselective cyclopropanation of (±)‐2 leads to the dibromocyclopropane derivative (±)‐4. Epoxidation gives the epoxides (±)‐5 and (±)‐6. The resolution of the hydro‐azulenone (±)‐2 is achieved by fractional crystallization of the quinine salt (–)‐8 of the corresponding mono acid (±)‐7. The absolute configuration of (+)‐7 is established by X‐ray analysis of the quinine salt (–)‐8.