Burke Mountain Resort has been a popular destination for skiing and snowboarding enthusiasts for many years. Located in the Northeast Kingdom of Vermont, it boasts some of the best skiing terrain in the region.
But who owns Burke Mountain Resort? Let’s explore.
Background
Burke Mountain Resort was originally built by Sherburne Corporation in 1956 and was owned by them until 1995. In 1995, the resort was sold to a group of local investors led by Tim Mueller. The new ownership revamped the resort and added more ski trails, lifts, and amenities to attract more visitors.
Ownership Changes
In 2012, Burke Mountain Resort was sold again to Ariel Quiros, a Miami-based businessman. Quiros had ambitious plans for the resort, including developing a new hotel and conference center, as well as expanding the ski area. However, his ownership was marred by controversy when he became embroiled in a scandal involving his other business ventures in Vermont.
Quiros was accused of defrauding foreign investors who had invested in his Jay Peak Resort through the EB-5 program. This program allows foreign nationals to obtain green cards by investing at least $500,000 in projects that create jobs in economically disadvantaged areas of the United States. Quiros allegedly misused these funds for personal gain rather than investing them into Jay Peak as promised.
As a result of this scandal, Quiros lost control of both Burke Mountain Resort and Jay Peak Resort. The resorts were placed into receivership under Michael Goldberg, who was appointed by the court to oversee their management and sale.
Current Ownership
In 2018, Burke Mountain Resort was sold at auction to Pacific Group Resorts Inc., a California-based company that specializes in managing ski resorts. Pacific Group Resorts Inc. is owned by Tim Mueller, who led the local investor group that originally purchased the resort in 1995.
Under Pacific Group Resorts Inc.’s ownership, Burke Mountain Resort has continued to thrive. The resort has added more ski trails and lifts, as well as upgraded its snowmaking and grooming equipment. It has also expanded its summer offerings with mountain biking, hiking, and other outdoor activities.
Conclusion
In summary, Burke Mountain Resort has had a number of owners over the years. From Sherburne Corporation to local investors to Ariel Quiros to Pacific Group Resorts Inc., each ownership change has brought new ideas and investments to the resort.
While the scandal involving Quiros was certainly a setback for the resort, it has since rebounded under new ownership. Today, Burke Mountain Resort remains one of Vermont’s premier ski destinations.
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