In a small bowl, soak the dried cherries in the bourbon about 15 minutes.
In a medium saucepan, combine the soaked cherry mixture, the cranberries, brown sugar, cinnamon sticks and orange zest.
Bring to a boil over high, stirring often, then reduce to medium-low. Simmer, stirring often, until all the cranberries have burst and the mixture thickens, about 20 minutes. Let cool. Cover and chill.