BURKE - Jay Peak Resort owners Bill Stenger and Ariel Quiros now own Burke Mountain Resort. The resort was purchased from Lubert Adler, a real estate investment company, on May 22 for an undisclosed amount.
Jay Peak is in the midst of massive expansion with new hotels, townhouses, restaurants, an indoor water park, and much more.
Burke Resort has been trying to expand for the past several years but has historically struggled. However, in recent years, business at the resort has improved, said Burke Resort General Manager Tim McGuire in an Express interview Thursday.
McGuire said he is thrilled by the new ownership and the partnership with Jay, noting Jay Peak’s successful expansion and growth along with its proven leadership. The new partnership will benefit the entire Northeast Kingdom, McGuire said.
Specific plans for Burke have yet to be determined. Whether or not the EB-5 Foreign Investor Program, which has funded the expansion at Jay Resort, will be tapped into for Burke is undetermined, but is part of on-going discussions, McGuire said. “We are all pleased to see such an experienced group taking ownership of our great resort. There is a great vision in place and the QBurke Team (QBurke Mountain Resorts LLC) is eager to see this vision become reality.”
“I’m delighted to be involved in the Burke Mountain Resort community,” Quiros was quoted as saying. “The mountain has been such an authentic part of the Vermont ski industry, and to be able to guide it into the future is truly exciting for me and my ownership team. I believe so strongly in the environmental spirit of Vermont and want the Burke community to know how committed to environmental stewardship we are.”
“Burke Mountain embodies what is best about Vermont skiing, a quality mountain experience, a group of employees that love the sport and a community that is full of authentic Vermont Character," Bill Stenger said in a press release.
"Jay Peak and Burke Mountain have much in common and I look forward to seeing the resorts continue to prosper and grow. We expect some exciting promotional cooperation between the resorts this coming winter as we review the plans for Burke Mountain’s future."