Jackson Hole Ski Resort is Sold

4th August 2023

Last modified on August 5th, 2023

The iconic US resort has been run by the Kemmerer family for the past 31 years. It says it has fulfilled the goal of keeping the resort independent as it is sold. UPDATED

The resort needs little introduction.

Famous for its powder, plus its steep & challenging terrain.

Jackson Hole, Wyoming. Image © PlanetSKI

Then there’s its cowboy heritage.

Jackson, Wyoming. Image © PlanetSKI

And its cable car, or tram, as the Americans like to call such lifts.

Image c/o Jackson Hole Mountain Resort

The Kemmerer family bought Jackson Hole Mountain Resort in 1992.

The current owners Jay, Connie and Betty Kemmerer are selling to JHMR Board Members Eric Macy & Mike Corbat and a small group of co-investors.

Financial details of the transaction have not been disclosed.

“The time has come to transition ownership of Jackson Hole Mountain Resort. We take great pride in what JHMR has become and what it represents to the Jackson Hole community and the state of Wyoming,” said Jay Kemmerer in a statement as the sale was announced.

“It is of utmost importance to me that the next ownership maintains the integrity and character of the mountain that we have worked so hard to build over the past three decades.

“There is no better fit for this ownership transition than Eric and Mike and their families, who share the same vision for the future of JHMR and its importance to our great community.

“I’m excited and proud to pass along this iconic, family-run ski resort to these two strong Jackson Hole families.”

The transaction is subject to customary closing conditions and approvals and is anticipated to close by end of 2023.

Some wonder what the future holds for the resort and whether it might loose its ‘individuality’ and be sold on at a future date.

PlanetSKI was last in Jackson Hole back in 2017.

PlanetSKI hits Jackson Hole

A Jackson Hole virgin

Jackson, Wyoming. Image © PlanetSKI

Last season it saw huge amounts of snow.

Jackson Hole closes with record amounts of snow

There has been swift reaction on social media with many pleased it is staying independent and not being bought by Vail Resorts or Alterra:

Olivier Leduc – Ohh wow !! This mountain rocks on all levels!

Peter Brighton – Congrats to all parties. Vail would be more than upset by this news. However, locals rejoice as that has now been firmly taken off the table!

Tim Flanagan – Congratulations to the Kemmerer Family and thank you for your 30 commitment to our local economy, the jobs you’ve provided and for creating one of the greatest ski hills on the planet, as well as the family foundation that has supported so many in the entire state of Wyoming.

Fred Chain – Amazing. Big isn’t better! Keep it local!

Trevor Hyde – Amazing family that puts many things first before money! The future is bright for JH

Markus Hugi – Awesome resort! I hope to get back there soon.

Jenn Elenbaas – Oh Thank God it wasn’t Vail. Thank you, JHMR! Congrats on keeping the culture alive and well. There is no place like Jackson Hole.

John Shipp – Class A ski resort!

Miles Nester – Good news

William Mitchell – One of our favs!! Glad it’s staying independent.

Daniel Lee Miller – Thank you for not selling to the Vail group. See you in December!

But not everyone is quite so supportive of the sale.

Chris Soniak – Let me guess.. walk up lift tickets will be $200+ next season.

Amber Waves – So what does that mean? Fractional ownership by local families or outright purchase of the condos?

Nathan Wright – I sense a cycle of buying and selling JH is about to start and ultimately it will end up as another ski resort in a portfolio of ski resorts.

Here’s one comment over on twitter:

“It may be privately owned but JHMR, under the Kemmerer’s leadership, went corporate over a decade ago. The Hole lost its soul long ago.”

Jackson Hole is currently on the Ikon Pass.

Jackson Hole. Image © PlanetSKI

The Kemmerers invested more than $300 million in capital improvements and the resort is stressing the achievements:

Replaced or built new every lift at JHMR, with Sublette being the final lift to be replaced in 2024.
Constructed a new $31 million Aerial Tram in 2008 during the financial crisis.
Built the Bridger Gondola and the Bridger Center in the winter of 1997/1998.
Helped with the creation of the Teton Village Master Plan, which was approved in 1998.
Supported Jerry Blann in the formation of the Teton Village Association, followed by the Teton Village Resort District several years later.
Encouraged the establishment of Jackson Hole Air to support direct flights to Jackson, now available from 13 destinations.
Purchased the Stilson property and subdivided it into Stilson Residences and the Stilson Transit Center.
Built Sweetwater Gondola in 2017 to service Solitude Station, which was built in 2018/2019 and is regarded as the premiere learning center in the West for the Mountain Sports School.
Championed Resort leadership in the development of the new Mountain Master Plan in 1996.
In 2019, switched to 100% green energy, making it the largest resort in North America to run on green power.
Consistently invested in employee housing throughout Teton County.
In 2021, began managing capacity at JHMR to elevate the guest and employee experience, with many ski areas subsequently following JHMR’s lead.

Jackson Hole, USA. Image © PlanetSKI.

“Mike and I are honored to have the opportunity to carry on the legacy of this world-class ski resort,” said JHMR Board Member and new owner, Eric Macy.

“We want to thank everyone at JHMR in advance for their support as we begin this next stage and are committed to our ownership for decades.

“We appreciate all the hardworking employees and members of the Jackson Hole community who have played an integral part in building JHMR into the ski mountain we know and love today.

“It is our privilege to continue cultivating an authentic resort experience that is treasured by locals and visitors alike.

“We look forward to many amazing winter and summer seasons to come.”

“Jackson Hole Mountain Resort’s legendary runs, couloirs and iconic features have provided the quintessential ski mountain experience for decades,” said JHMR Board Member and new owner, Mike Corbat.

“Coupled with an enthusiastic skier base and a dedicated community, JHMR defines what it means to be a best-in-class ski resort.

“We will work hard to preserve the cherished aspects of the ski mountain and continue building on the mountain’s storied tradition.

“We are excited to partner with the mountain’s exceptional team to continue developing JHMR’s best-in-class guest experience and unique brand.”

Following the transition the resort is stressing that Jay Kemmerer will remain actively involved in JHMR as a part of the new ownership group and as a board and executive committee member.

Mike and Eric claim that they do not anticipate any changes to current business operations.

“They look forward to continuing to invest in JHMR improvements, employees and the community while maintaining JHMR’s world-class reputation,” said a statement from the resort.

“Mike and Eric and their families take great pride in the long-term stewardship of JHMR and look forward to decades of continued success.”

Employees have been informed by letter:

Jackson Hole Mountain Resort has sold. Letter to employees below.
To all our incredible JHMR employees,
As many of you have heard, we have announced plans to sell the Resort to JHMR Board Members Eric Macy and Mike Corbat as well as their families and a small group of…
— Lift Blog (@liftblog) August 3, 2023

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 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.

The neighboring Grand Teton and Yellowstone National Parks, and operating in the Bridger-Teton National Forest, make 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 to reduce environmental impact.

In doing so, it runs 100% of its operations on green power.