The Kemmerer family announced today that it has officially closed the deal for the sale of Jackson Hole Mountain Resort (JHMR), ending a highly successful and transformative 32 -year run of ownership. The sale places the Resort in the care of local investors Mike Corbat and Eric Macy, who are perfectly positioned to continue JHMR’s legacy atop the adventure sports industry.
The Kemmerer family bought JHMR in 1992, and over more than three decades transformed the Resort into a world-class vacation destination. JHMR has received eight Top-10 placements in rankings from national publications this season alone, including being named Best Resort in North America by SKI Magazine, the No. 3 resort in the world by The Wall Street Journal, and one of the top 10 U.S. ski resorts by Conde Nast Traveler.
JHMR’s status as a premier all-season destination is a direct result of the Kemmerers’ vision: As they witnessed the consolidation of the ski industry under large corporations, their highest priority was ensuring that JHMR remain an independent, family-owned resort. Owners Jay, Connie and Betty Kemmerer found the perfect buyers to continue that tradition in Corbat and Macy, who are both full-time residents of Jackson Hole. Macy has served as a JHMR board member for nine years, and Corbat for two years.
“The Kemmerer family is proud and happy to pass our legacy asset into capable hands. Mike Corbat and Eric Macy are great friends and will do an outstanding job leading Jackson Hole Mountain Resort,” said Jay Kemmerer, who has served as the Chairman of JHMR since 1992. “I will remain on the Board and Executive Committee and play a Senior Advisory role. And our family will continue as an equity owner in the Company.”
Jay Kemmerer has helped lead Jackson Hole Mountain Resort as chairman for 32 years.
“I would also like to thank my sister Connie for providing insight and direction to our new and old buildings, and her contributions to wellness in the valley and to St. John’s Hospital,” added Kemmerer (above). “A special thanks to the Jackson Community for supporting us as we renewed the Resort. And to Paul McCollister for taming the challenging but wonderful terrain.”
Three Decades of Ownership With the Kemmerers
Under Jay’s leadership as chairman, the Kemmerers have invested over $300 million in capital improvements, and their efforts to improve the Resort and the experience at JHMR for employees, guests and the community will have a lasting impact. Jay’s vision to make JHMR a world-class resort led to many important milestones, including constructing a new, $31 million aerial tram in 2008 during the financial crisis.
Beyond driving the successful evolution of JHMR, the Kemmerer Family has a long history of steadfast support in the local Jackson Community and the State of Wyoming. They have made significant, ongoing contributions to entities such as St. John’s Health, Teton County Search and Rescue, the Community Foundation of Jackson Hole, Friends of Pathways, Grand Teton National Park Foundation, Teton Science School and the University of Wyoming, among many other charitable endeavors.
The Next Generation of Ownership at JHMR
Corbat and Macy do not anticipate any changes to current business operations. Having served alongside Jay and Connie as board members, they have contributed key input into and approval of all of JHMR’s current operating and financial plans. They look forward to continuing to invest in JHMR improvements, employees and the community while maintaining JHMR’s world-class reputation. Mike, Eric and their families look forward to carrying on the tradition of family-ownership and long-time stewardship of JHMR.
Financial details of the private transaction will not be disclosed.
About Jackson Hole Mountain Resort
Jackson Hole Mountain Resort (JHMR), located in Teton Village, Wyoming, is a values-led, family-owned, iconic mountain destination with a purpose of enriching the lives of its guests, employees and community through premium, authentic and memorable big mountain experiences only found in the Tetons. Jackson Hole famously delivers the finest powder snow with 4,139 continuous vertical feet of legendary terrain and 2,500 acres of the best beginner, intermediate and expert terrain. Neighboring celebrated Grand Teton and Yellowstone National Parks, and operating in the Bridger-Teton National Forest, makes Jackson Hole an exceptional and unique global destination. With an enduring commitment to the surrounding landscape, wildlife and authentic community character, JHMR strives to live by its values by reducing its environmental impact, and in doing so, runs 100% of its operations on green power.