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Burke Mountain, VT Finally Has a New Owner

Originally posted on Powder | By Izzy Lidsky | Last updated May 6, 2025 1:46 PM ET

After several years of ski area ownership purgatory, Burke Mountain, Vermont has been officially purchased and is under new ownership.

On Friday, May 2, 2025, Bear Den Partners closed on their purchase of Burke Mountain Resort in East Burke, VT.

Prior to the sale, the resort had been in federal receivership since 2016. The resort's previous owner, Ariel Quiros, was sentenced to five years in federal prison in 2022 for his role in the largest fraud case in Vermont history. Jay Peak, which was also owned by Quiros and was involved in the EB-5 fraud, was sold to Pacific Group Resorts, Inc. in 2022.

The resort's new owners are a group of locals who are deeply invested in and connected to the Northeast Kingdom of Vermont. Included in the partner group are members of the Graham family, who had previously purchased the resort in 2000 to save the mountain from permanent closure, and the Schafer family, who currently own and operate Berkshire East & Thunder Mountain Bike Park (MA), Catamount Resort (NY), and Big Red Cats (Rossland, BC).

Leading ski racing training school Burke Mountain Academy is also a member of the Bear Den Partnerships, and will assume partial ownership of the resort.

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Burke Mountain, VT in the summer.Photo: KenWiedemann/Getty Images

U.S. District Court Judge Darrin P. Gayles signed off on the sale of the mountain for $11.5 million dollars. Bear Den Partners has pledged around $30 million in funding for significant upgrades to resort infrastructure such as snowmaking equipment, lift upgrades, and hotel renovations.

Bear Den Partners (BDP) CEO Jon Schaefer penned a letter to the Burke Mountain Community via the resort's website following the sale. The letter openly addresses that for the first time in a decade, Burke Mountain is no longer a 'central player in an international investment scandal,' and thanks the community for sticking by the mountain throughout a tumultuous few years.

Schaefer goes onto address specific action items on the docket for BDP in order to help return Burke Mountain to its former status as a gem of Northeast Kingdom recreation.

Upgrades to the mountain will include a rebuild of the snowmaking system to deliver more consistent snow earlier in the year, optimization of lift systems starting by taking care of long overdue maintenance, and a revamp of the food and beverage workflow systems.

Schaefer exemplifies the group's commitment to the mountain noting that the necessary equipment for planned snowmaking upgrades has already been purchased in anticipation of the 2025/26 season.

Burke Mountain Resort Stats/Info:

Vertical: 2,011 ft.

Skiable Terrain: N/A

Average Snowfall: N/A

Lifts: 5

Trails: 53

Snowmaking: YES

Night Skiing: NO

Mega-Pass: Indy Pass