JHMR Plans to Sell to Local Families
- After 31 years of ownership, the Kemmerer family intends to sell Jackson Hole Mountain Resort (JHMR).
- Teton County residents and JHMR board members, Eric Macy and Mike Corbat, along with a select group of co-investors, will be the new owners.
- The Kemmerer family has invested over $300 million in capital improvements during their ownership.
- The transaction is expected to close by the end of the year 2023.
Reflecting on the Kemmerers’ Legacy at Jackson Hole Mountain Resort
The Kemmerer family’s announcement of their intent to sell Jackson Hole Mountain Resort marks the end of an era. For over three decades, the Kemmerers have dedicated themselves to turning JHMR into a world-class ski destination. Under Jay Kemmerer’s leadership, they invested over $300 million in capital improvements, including the replacement or construction of every lift at the resort. Concurrently, their commitment to employee housing and efforts to manage capacity have improved the overall experience for guests and staff alike.
Eric Macy: Cultivating the JHMR Legacy
Eric Macy, one of the future co-owners, joined the JHMR board in 2014. With more than 35 years of experience in finance and corporate operations, Eric brings expertise to the table. As a resident of Jackson, he is rooted in the community and to cultivating an authentic experience that locals and visitors will treasure.
Mike Corbat: Building on Tradition at Jackson Hole Mountain Resort
Mike Corbat, the other future co-owner, joined the board in 2021 after retiring from Citigroup, where he served as CEO. His experience in the finance and his love for Jackson Hole make him a fit for the new ownership team. Above all, Mike commits to preserving the cherished aspects of the resort and enhancing the guest experience.
As Jackson Hole Mountain Resort is Sold— What Comes Next
Jay Kemmerer will remain actively involved in JHMR as part of the new ownership group. Additionally, he will continue to guide the resort’s strategic direction. Eric and Mike do not anticipate any immediate changes to current business operations and endorse the current plans. They are committed to maintaining JHMR’s world-class reputation and investing in its improvement, employees, and the community.
Conclusion
The sale of Jackson Hole Mountain Resort to local families marks a new chapter in the resort’s history. The Kemmerers’ legacy of dedication and investment has shaped JHMR into what it is today—a premier ski destination. The new ownership team, led by Eric Macy and Mike Corbat, holds the vision of continuing this world-class legacy. To ensure that JHMR remains a treasured resort for generations to come.
History of Jackson Hole Mountain Resort
- 1960: Paul McCollister and Alex Morley formed a partnership to develop a ski resort in Jackson Hole.
- 1963: The US Forest Service issued a permit for the resort’s development.
- 1965: Jackson Hole Mountain Resort (JHMR) officially opened on December 19, with the Aerial Tram as its first lift, serving Rendezvous Mountain.
- 1970: The Teewinot Chairlift was installed, providing access to lower terrain on Rendezvous Mountain.
- 1973: The Casper Triple Chairlift was added, further expanding the resort’s lift network.
- 1976: The Sublette Double Chairlift was installed, opening up more expert terrain on Rendezvous Mountain.
- 1979: JHMR experienced financial difficulties and filed for bankruptcy, leading to a change in ownership.
- 1980: The resort was purchased by a group of investors led by Jay Kemmerer.
- 1992: The Kemmerer family purchased JHMR from the investor group, becoming the sole owners.
- 1997: The Bridger Gondola and Bridger Center were constructed to provide access to intermediate terrain.
- 1998: The Teton Village Master Plan was approved, guiding future development in the area.
- 2008: A new $31 million Aerial Tram was installed, replacing the original tram from 1965.
- 2017: The Sweetwater Gondola was built to service Solitude Station, a learning center for the Mountain Sports School.
- 2019: JHMR switched to 100% green energy, making it the largest resort in North America to run on green power.
- 2021: The resort began managing capacity to improve the guest and employee experience, setting an example for other ski areas.
- 2023 JHMR announce their sale.
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