A Message from Jon Schaefer

From Jon Schaefer, Operator of Berkshire East and Catamount Ski Areas

CEO Bear Den Partners

February 11, 2026

All in the family.

I am excited to share that Smugglers' Notch Resort has officially joined the Bear Den Partners family and by extension, the Berkshire East and Catamount family.

This summer when the Burke snowmakers were knee deep in welding, when the Burke hotel was reorganizing, while Catamount staff were out increasing snowmaking capacity, Thunder Mountain Bike Park was in full swing, and guests riding the rapids, we were invited by another northern Vermont family ski ownership group to consider a control investment in one of the most important resorts on the east coast: Smugglers' Notch.

Smugglers Notch is many things. Known as America's family resort, it is an award-winning four season machine of family fun, experience and multisport adventure. Distilling it down to its core, it is one of the largest and snowiest mountains on the east coast.

How did we get here? Smuggs owner Bill Stritzler has stewarded that mountain for nearly 30 years. With his family and the dedicated team there, they built it into a truly special, award-winning, year-round family resort. When the time came for him to transition to new ownership, he had two paths - corporate or independent. Bill chose Bear Den Partners, a group who he believed (and we live with every cell in our bodies) to be independent-minded operators, family-focused, and committed to high-quality outdoor experiences. This happened over the summer and key Bear Den and Berkshire East / Catamount staff were involved in the subsequent conversations throughout the fall and winter, establishing a key cultural connection that set the groundwork for a successful transition. His family will continue to have a stake in ownership and his daughter Lisa will stay on as an advisor to retain a Stritzler family voice in the future of the mountain.

From the first meeting, the alignment was strong, and here we are, welcoming the Smuggs family to the Bear Den family.

A little introspection. 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. 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.

Smuggs is offering a discounted vacation package for Berkshire East, Catamount and Burke season passholders. You can find details at smuggs.com/deals.

For those interested in the broader picture, the official press release is included below, as well as a link to a video news release Smugglers Notch produced about the ownership transition. More details soon, but that's our big news of the week.

We're excited about what's ahead and grateful to have you along for the ride.