Bear Den Partners Acquires Two More Northeast Ski Resorts

Why It Matters

Consolidating under a locally rooted partnership gives midsize resorts access to capital and operational expertise, strengthening their position against large corporate ski chains. It also highlights a growing collaborative ownership model that prioritizes community, sustainability, and regional identity.

Key Takeaways

• Bear Den adds Berkshire East and Catamount to portfolio
• Existing CEOs and managers retain operational control
• New Bear Den Mountain Alliance shares resources and capital
• Resorts emphasize local character and renewable energy
• Partnership counters consolidation by major ski conglomerates

Pulse Analysis

Bear Den Partners emerged last year when the Graham and Schaefer families rescued Burke Mountain from receivership, later adding Smugglers' Notch to their growing portfolio. The March 2026 acquisition of Berkshire East and Catamount marks the latest expansion, bringing two well‑established New England resorts under a single ownership umbrella while preserving their day‑to‑day leadership. This continuity reassures local patrons and staff, ensuring that the unique mountain culture that defines each resort remains intact even as strategic direction aligns with the broader partnership.

The formation of the Bear Den Mountain Alliance creates a cooperative framework for resource sharing, joint marketing, and pooled capital investment. By leveraging the Schaefer family's operational experience and the Grahams' financial backing, the alliance can fund upgrades, enhance snowmaking, and pursue sustainability initiatives—such as Berkshire East’s on‑site wind and solar power—without sacrificing the independent spirit that draws regional skiers. This collaborative model offers economies of scale typically reserved for large corporate chains, giving smaller resorts a competitive edge in pricing, technology adoption, and guest experience.

Industry observers see this trend as a counterbalance to the aggressive consolidation by multinational ski conglomerates. As climate concerns and shifting consumer preferences prioritize authentic, community‑focused experiences, alliances like Bear Den’s may become a blueprint for preserving the heritage of regional ski areas while securing the financial resilience needed for long‑term growth. Investors and tourism boards are likely to watch closely, as the success of such partnerships could reshape the economics of mountain recreation across the United States.

Deal Summary

Bear Den Partners, a ski resort ownership group formed by the Graham and Schaefer families, announced the acquisition of Berkshire East Mountain Resort in Massachusetts and Catamount Mountain Resort on the Massachusetts‑New York border. The two resorts join the Bear Den Mountain Alliance, expanding the portfolio of independent New England ski areas. The deal was announced on March 23, 2026.