After 31 years of ownership, the Kemmerer family is selling the iconic resort to new owners who promise to keep Jackson Hole independent – one of the last world-class destinations which hasn’t been bought out by a multi-resort corporate operator.

The Kemmerers have always said they wanted to keep JMHR (Jackson Hole Mountain Resort) both locally-owned and independent.

The new owners are Teton County residents, longtime members of the resort’s board of directors and close friends of the Kemmerers, Eric Macy and Mike Corbat.  Both men have extensive backgrounds in finance and investment banking – Corbat was CEO of Citigroup in New York City before relocating to Teton County.

They, their families and a select group of co-investors are expected to take over by the end of 2023.  Sale price has not been disclosed.  Nor was anything in the sale announcement about continuing JHMR’s participation in the multi-resort Ikon Pass and the Mountain Collective pass systems other than a phrase in the press release about not anticipating any changes to current business operations.

The Kemmerer family – Jay, Connie and Betty – bought JHMR in 1992, and their passion, dedication and commitment turned the Resort into a world-class destination.

“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.

“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.”

Reflecting on the Kemmerer Legacy

During over three decades of ownership, the Kemmerers invested over $300 million in capital improvements. Their efforts to improve the resort and the experience 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:

• 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 formation of the Teton Village Association and the Teton Village Resort District.
• Encouraged 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, now regarded as the premiere learning center in the West for the Mountain Sports School.
• Championed Resort leadership in developing 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. 

The Kemmerer family also has a long history of steadfast support in the local Jackson community and the state of Wyoming. They have made significant, ongoing contributions including to St. 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.

What Comes Next — Continuing a World-Class Legacy

Jay will remain actively involved in JHMR as a part of the new ownership group and as a board and executive committee member, continuing to provide his expertise and insight.

Mike and Eric do not anticipate any changes to current business operations. Having served alongside Jay and Connie as board members, they have had key input into and approval of all current operating and financial plans, which they endorse. They plan to continue to invest in JHMR improvements, employees and the community while maintaining JHMR’s world-class reputation.

Eric Macy: Cultivating the JHMR Legacy

“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.”

Eric Macy joined the JHMR board of directors in 2014. His career spans more than 35 years with experience in financing, restructuring, stabilization and growth of private and public companies in various industries. His background includes experience in institutional finance and corporate operations. Eric began his career at New York investment bank Donaldson, Lufkin & Jenrette in 1986, holding multiple roles there until 1991, when he joined Jefferies & Co., an internationally recognized investment banking firm also headquartered in New York. A full-time resident of Jackson, he has founded and operated multiple successful companies since 2007. Married for 33 years, Eric and Dana Macy and their three children proudly call Jackson their home.

Mike Corbat: Building on Tradition

“Jackson Hole Mountain Resort’s legendary runs, couloirs and iconic features have provided the quintessential ski mountain experience for decades. 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,” said JHMR Board Member and new owner Mike Corbat. “We are excited to partner with the mountain’s exceptional team to continue developing JHMR’s best-in-class guest experience and unique brand.”

Mike Corbat joined the JHMR board of directors in October 2021 after retiring from Citigroup after 38 years where he led as CEO from 2012 to 2021. Mike leveraged Citi’s unique global network to serve its institutional and consumer banking clients with an emphasis on strong execution and exceptional client experience and significantly improved the quality and consistency of Citi’s earnings. He is a longtime Jackson resident and an enthusiastic fly fisherman, golfer and downhill skier. He and his wife, Donna, reside in Wilson and have two married children and three grandchildren.

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.

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Evelyn Kanter

Evelyn Kanter is a NYC-based travel and environmental writer and a senior skier who would rather ride a chairlift, river raft or zipline than the subway, and has done so in the more than 100 countries she’s visited, skiing in many of them. In what she calls a “previous life”, she was a TV and radio news reporter for ABC News and CBS News, now a regular contributor to major publications, including airline inflights and AAA magazines, and has written or contributed to more than a dozen travel guidebooks.Her latest are “100 Things to Do in NYC Before You Die”, Fodor’s Essential Germany and Fodor’s New York City. Evelyn's website is www.ecoxplorer.com

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