New Owner Close To Burke Mountain Acquisition
An ownership group with long-standing ties to Vermont’s Northeast Kingdom has stepped forward to purchase Burke Mountain Resort in East Burke, Vermont. Bear Den Partners confirmed today its submission of a purchase and sale agreement to buy the 72-year-old ski resort out of federal receivership.
The aim is to move quickly to finalize the acquisition of the resort to jumpstart the first phase of a significant capital improvement plan with the primary objective of increasing snowmaking capacity in time for the 2025/2026 ski season.
Bear Den Partners, the acquiring group, has been working behind the scenes for over four years on the potential acquisition. Bear Den Partners is comprised of members of the Graham family, a local Burke family with strong ties to the mountain; Burke Mountain Academy, the leading ski racing academy in the United States, located in East Burke; and the Schaefer family, also with local ties, who, as owner/operators of Berkshire East in Mass., Catamount Resort in NY, and Big Red Cats in Rossland British Columbia, brings independent ski resort operating expertise to the ownership group. Notably for riders of the Kingdom Trails, a biking mecca located in Burke, the Schaefer family built and opened Thunder Mountain Bike Park at Berkshire East.
Every principal of Bear Den Partners is a lifelong skier and outdoor enthusiast and has deep roots in the Northeast Kingdom. The partners have over 100 years of experience skiing, hiking, biking and recreating on Burke Mountain. The group is committed to the authentic Vermont culture of East Burke and Vermont’s Northeast Kingdom as a haven for year-round active outdoor/mountain sports and living. All partners are uniformly committed to the long-term success of the Resort and the greater East Burke community.
Bear Den Partners stress that Burke’s independent vibe will remain intact for its loyal season pass holders, visitors and Burke Mountain Academy community. The partners are proud to have come together to acquire and preserve a great New England independent mountain, home to an incredible culture, blessed with great snow and strong year-round programming, including one of the nation’s best mountain bike trail networks, the Kingdom Trails.
“To me, Burke is the real deal. If you're looking for the heart and soul of New England skiing, and a pure Vermont mountain town vibe, I tell my friends, ‘Come to Burke and bring your dog!’” explained Bear Den Partners principal Ken Graham. “Burke has a deeply loyal customer base and an equally dedicated core of local staff who want the resort to succeed. They’ve been amazing through this Federally managed transition and have so much depth, knowledge, and passion for the resort and the region they call home. We look forward to adding our expertise to the mix and taking Burke to a level where we know it can excel for years to come. My family has been part of the Burke community for the last 50 years, and we are really excited to help write the next chapters at Burke for decades to come.”
“Burke is a great mountain, and the Northeast Kingdom is a special place,” said Jon Schaefer, Bear Den Partners principal operator. “We are here to fix the infrastructure of the resort. Out of the gate, we commit to improving snowmaking and making the right operational upgrades that have been long overlooked. These changes will fundamentally transform how the resort functions for skiers and riders on the hill. Bear Den Partners is committed to making substantial upgrades immediately and will continue for at least the next five years. Our group only has one speed: to get it right.”
“The success and continued small mountain culture of the Mountain is symbiotic with Burke Mountain Academy,” said Willy Booker, Burke Mountain Academy Head of School. “We are excited to be a part of a team working to find a sustainable solution for the resort that respects the unique culture of the mountain, our region, and our school. BMA has been working hand in hand with Burke Mountain for more than 50 years; we are deeply invested in ensuring the resort’s prosperity for our school and our local community.”
Details about the sale and how it will benefit the greater Burke community will be forthcoming.
Bear Den's Goals & Guideposts are:
"The customer we seek to appeal to is the active outdoor lifestyle or “mountain sports” family. This will inform our focus in terms of the kind of resort offerings we add as well as the kind of development we would envision.
"We believe that development should enhance and complement the existing character of Burke as a mountain haven away from the corporate experience that defines an ever-growing number of ski resorts. Burke must remain the independent, authentically VT and authentically NEK mountain-sports mecca that it is already known to be even while we seek to expand the breadth and quality of such offerings.
"We favor more concentrated development adjacent to the existing development footprint whenever possible versus ‘urban sprawl.’ As an example, we remain opposed to the Ginn development vision which would have turned McGill fields and Dashney Nordic areas into high density condominiums. Though privately held, they are cherished open space and recreational areas enjoyed by locals and visitors alike. We would emphasize development adjacent to existing developed footprint at the mountain where infrastructure and amenities already exist to support the people. We believe this is both a more environmentally responsible approach and consistent with our vision of retaining key outdoor areas of beauty and recreational enjoyment.
"Partnering Philosophy and belief in one unified Burke community. We believe that collaboration and co-operation with other leading Burke organizations and constituents such as BMA, Kingdom Trails, BMOA, season pass holders and the local businesses community is not only preferable but imperative for enduring success. Skiers and Riders are more likely to visit a resort that exists within a vibrant community with a variety of recreational and business opportunities to enjoy and the charming nature of the Burke Villages are one of the strengths underpinning the resort. Our futures are interconnected. We win together. That will inform the Bear Den Partners’ approach within this community. We know we will also need the collective support of the broader community to help us meet our ambitious goals at Burke Mtn. Our collective success will come from working together as a unified Burke."
They say they plan to:
"Improve Snow Making Burke Mountain has the smallest water storage and pumping capacity of any similarly sized ski resort in the Northeast and has a fraction of the capacity of the market leaders. For this reason, the resort struggles to meet the needs of the season pass holders and BMA in the early season.
"Bear Den Partners will invest urgently to more than triple current snowmaking capacity — potentially in time for the 2025/26 season if the acquisition closes on timeframe targeted — which will require no further disruptions by third parties/a speedy approval by the Judge. This is why broad community support is so important as it will improve the judge’s likelihood to support the non-auction process proposed by Bear Den Partners and supported by Michael Goldberg.
"Attend to Deferred Maintenance (lifts, and infrastructure) which is substantial. This is imperative to ensure the reliability our visitors deserve. There is much to catch up on, but we will attack this with a sense of urgency.
"Select Trail Improvements. We have some potential trail improvements and expansion in store which, subject to approvals, we could begin to roll out for next season and will continue over time. Several additional top to bottom alternatives to Dippers & Willoughby are envisioned with the goal of doing so while retaining our many unique character trails.
"Food & Beverage and Hotel Improvements. We will look to improve and expand offerings (we hear you Powderhorn!). At the hotel, reservation systems/IT and Food & Beverage improvements will be the immediate focus.
"Intermediate Terrain Expansion. We would seek approvals to move the Willougby Chair, upgrade it and open an Intermediate Pod with widened trails and snowmaking, etc.—if all goes well this could be in place by year two. This lift should also keep terrain open on the upper mountain during high wind conditions.
"MTB and XC Trail Revitalization. We would seek to work closely with Kingdom Trails to expand trail offerings on Burke Mtn. land in a manner that fits KT’s long- term goals. We view KT as a vital regional asset and hope to partner with KT to support the long-term success of the organization and to help Burke maintain its prominence as a destination for riders of all levels. As part of this, we would like
to reconnect Mid-Burke with Dashney for multi-use (cross country, snowshoeing and winter and summer mountain biking). We envision an expanded future Mid-Burke as a rental center for all the above as well as Alpine Touring.
"Longer Term. Longer term Bear Den Partners will focus on winter and summer resort expansions as demand warrants and overall development guided by the Goals & Guideposts discussed above.
They say "We are skiers, bikers and mountain sports enthusiasts who love Burke, see its growth potential and who also understand and care deeply for the town and region. We value Burke as a special place for those of us who love mountain sports and seek an authentic alternative to crowded corporate ski experiences that typify most modern resorts."
Bear Den Partners has a long-term ownership vision and the depth of financial resources, operating expertise and local support necessary to help Burke realize its long-term potential – and for the Burke community to finally achieve the economic stability that a financially secure and prosperous Burke Mountain would provide.
Located in the heart of Vermont’s Northeast Kingdom, Burke Mountain Resort is a four-season destination offering skiing and riding in the winter and mountain biking and hiking in the summer. The mountain has been in operation since 1953.
