SAM Magazine—Jackson, Wyo., Feb. 5, 2024—The sale of the Jackson Hole Mountain Resort (JMHR) to a local group of investors, initially announced last August, is complete.

The Kemmerer family, which has owned the independent ski resort for the last 32 years, officially closed the deal in early February. Financial details were not disclosed.

“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,” according to a Feb. 2 press release.

Jay Kemmerer, who has served as the chairman of JHMR since 1992, said Corbat and Macy—who have served on the resort’s board for two and nine years, respectively—“are great friends and will do an outstanding job.” Kemmerer added that he will remain on the resort’s board and executive committee and serve as a senior advisor.

Corbat and Macy “do not anticipate any changes to current business operations,” according to the release, noting that both of the new owners have served alongside Jay and Connie Kemmerer as board members and "have contributed key input into and approval of all of JHMR’s current operating and financial plans.”

The new owners "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,” according to the press release.

The Kemmerer family will continue as an equity owner of the resort, Kemmerer said.

Corbat, 63, was the CEO of Citigroup from 2012 until his retirement in 2021; he is an avid skier, Wilson, Wyo., resident, and serves on the U.S. Ski and Snowboard Team Foundation’s Board of Trustees.

Macy’s background in investment banking includes various roles at New York investment banks Donaldson, Lufkin & Jenrette and Jefferies & Co. A full-time resident of Jackson, Macy has founded and operated multiple companies since 2007.