Bear Den Partners, a New England ski resort investment group under the leadership of CEO Jon Schaefer, whose family owns Berkshire East Mountain Resort in Charlemont, has acquired majority ownership of Smugglers’ Notch Resort in northern Vermont.
Schaefer declined to comment on the amount Bear Den Partners invested in Smugglers’ Notch, but he said he is excited to work with the resort and the Stritzler family, who has owned the mountain for 29 years and will remain a minority shareholder.
“Smuggs is a great family mountain — activities, programming, lodging, etc., with a world-class skier/rider mountain alongside it,” Schaefer said. “It gets a ton of snow, has real personality and is a gem.”
Smugglers’ Notch has been owned and operated for nearly three decades by Bill Stritzler, who approached Bear Den Partners this past summer about taking ownership of the mountain. Last May, Bear Den Partners purchased Burke Mountain, located approximately 70 miles west of Smugglers’ Notch, for $11.5 million.
In a statement, Stritzler said that having seen how Bear Den Partners has begun its stewardship of Burke Mountain, and how Schaefer and business partner Ken Graham have managed other resorts throughout their careers, he felt like Bear Den Partners would do a good job managing Smugglers’ Notch and preserving its character.
“Retaining the culture that has grown over the years with the loyal local following, multi-generational homeowners and long-term professional employees was the large part of what I saw in Bear Den Partners,” Stritzler said. “I’ve studied the large conglomerates and felt this transition would be the best approach for the future of the resort and everyone who calls it home.”
The Stritzler family will remain involved in the mountain and Bill’s daughter, Lisa Howe, will serve as an advisor to Bear Den Partners.
Schaefer said that at this time, Bear Den Partners has no immediate plans to make changes to Smugglers’ Notch, and will work with Howe to review future changes and investments in the property, which could include improvements to snowmaking systems and lift infrastructure. He said the acquisition was about protecting the individual character of Smugglers’ Notch and not turning it into a corporate mountain.
“Smuggs represents everything we believe skiing and riding should be,” Schaefer said. “This is not about changing Smuggs; it’s about supporting what already works, investing thoughtfully and protecting the experience that families have cherished for generations. It goes without saying that the terrain at Smugglers’ Notch is some of the best in the East, and the resort receives some of the most snowfall east of the Rockies.”
In addition to skiing in the winter, the warmer months at Smugglers’ Notch offer mountain biking, hiking, ziplining, disc golf, water features and a skate park. Over the past year, Smugglers’ Notch was named the No. 2 Ski Resort by USA Today readers, earned a Tripadvisor Best of the Best Award and was named Best Family Resort by Ski Magazine.
Schaefer added that while Smugglers’ Notch will be operated independently, bringing the mountain under the umbrella of Bear Den Partners will allow it to more easily collaborate with its new sister resorts, including by offering discounted vacation packages for Berkshire East, Catamount and Burke season passholders.
“Just because you can buy a mountain doesn’t mean you should. So why are we expanding our footprint across New England? Well, I think we all know that the industry is at an inflection point. While the mountain map hasn’t changed too much over the years, the experience has, and we do think that we have our opinions as to how to run strong New England mountains,” Schaefer wrote in an announcement posted to Berkshire East’s website on Wednesday. “We feel we have a flight of mountains that are complementary, provide mutual aid, give our guests great cross value, but remain independent with a focus on individuality. There’s no homogenizing here.”
Ticket prices at Smugglers’ Notch are set to remain the same for the rest of the winter.
