The owners of Burke Mountain are buying Smugglers' Notch Resort for an undisclosed price, the companies announced Wednesday.
Bear Den Partners will have the majority ownership interest in the Jeffersonville ski resort, and the Stritzler family, who’ve owned Smugglers' Notch for nearly 30 years, will continue to have a minority ownership stake.
“We sought out Bear Den Partners as an equity partner because they share our belief that this resort is about families, employees, and community, not trends or shortcuts,” said Smugglers' Notch owner Bill Stritzler in a press release.
Lisa Howe, Stritzler’s daughter and CEO of Smugglers' Notch, will serve as an advisor on the future of the mountain, the companies said in a press release.
At a press conference Wednesday afternoon, Ken Graham, chairman of Bear Den Partners, promised to maintain the culture and independence of Smugglers' Notch.
“In this world where we see the corporatization of skiing in the United States, we’re about restoring the soul of skiing,” Graham said. “It’s about honoring what got us here at each resort. … Each has its own special culture and style and vibe that we want to build on.”
Bear Den Partners CEO Jon Schaefer said they don’t have immediate plans for major changes, like replacing the mountains’ slower double-chair lifts with high-speed quads.
“We need to evaluate the business model, the resort, comfortable carrying capacity,” Schaefer said. “We’re going to be careful, we’re going to try to make the best decisions possible for this resort.”
Bear Den Partners acquired Burke Mountain, which was in federal receivership after being tied up in the EB-5 scandal, last year for $11.5 million. The company has pledged to invest millions of dollars into Burke to expand its snowmaking capacity, add lifts and cut new trails.
Schaefer’s family also separately owns Berkshire East and Catamount Mountain Resort in western Massachusetts.
There was speculation in recent years that Smugglers' Notch, one of the few independently owned ski resorts remaining in Vermont, had caught the eye of Vail — the massive ski conglomerate that owns the neighboring Stowe Mountain Resort.
The two resorts at one point were exploring plans to build a half-mile connector lift between the mountains, but that plan was put on hold after state regulators raised concerns.
