The Kemmerer family closed a deal to sell the Jackson Hole Mountain Resort (JHMR), ending a successful, transformative 32-year run of ownership. The transaction places the resort in the care of local investors Mike Corbat and Eric Macy, who plan to continue JHMR’s legacy atop the adventure sports industry.
The Kemmerer family bought JHMR in 1992, subsequently transforming it over the next three decades tinto 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 (SKI Magazine), the No. 3 resort in the world (The Wall Street Journal) and a top 10 U.S. ski resort (Conde Nast Traveler).
Over the years, the Kemmerers’ 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, 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.”
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 other charitable endeavors.
Corbat and Macy do not anticipate any changes to current business operations. Having served 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.
Financial details of the private transaction will not be disclosed.
