SAM Magazine—Teton Village, Wyo., Aug. 4, 2023 – After 31 years of ownership, Jay, Connie, and Betty Kemmerer have sold Jackson Hole Mountain Resort (JHMR) to a group of local investors for an undisclosed amount. Owners of JHMR Connie, Betty and Jay KemmererThe Kemmerers, who purchased JHMR in 1992, said their highest priority was maintaining JHMR’s status as an independent, family-owned resort. 

The new ownership includes JHMR board members Eric Macy, Mike Corbat, their families, and a small group of co-investors including Teton County residents and close family friends of the Kemmerers. 

“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,” said Jay Kemmerer. “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.”

Under Jay’s leadership as chairman, the Kemmerers invested more than $300 million in capital improvements at the 2,500-acre resort. Jay will remain actively involved in JHMR as part of the new ownership group and as a board and executive committee member, helping to guide the strategic direction of the resort.

“Mike and I are honored to have the opportunity to carry on the legacy of this world-class ski resort,” said 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. 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.”

Macy joined the JHMR board of directors in 2014. His 35-year career includes experience in financing, restructuring, and the stabilization and growth of private and public companies in various industries. Corbat joined the JHMR board of directors in October 2021 after retiring from Citigroup where he worked 38 years, serving as its CEO from 2012 to 2021. 

During their tenure as board directors, Macy and Corbat have had key input into and approval of all JHMR’s current operating and financial plans and said they do not see any immediate changes to current business operations.

“Coupled with an enthusiastic skier base and a dedicated community, JHMR defines what it means to be a best-in-class ski resort,” said Corbat. “We will work hard to preserve the cherished aspects of the ski mountain and continue building on the mountain’s storied tradition.”   

In 1963, Paul McCollister purchased Crystal Springs Girl Scout Ranch and formed the Jackson Hole Ski Corporation with partners Alex Morley and Gordon Graham. Construction began a year later, and the mountain opened to the public in the 1965-66 season with three double chairlifts.

“My family and I would like to thank Paul McCollister for providing us with an incredible platform to work with, Jerry Blann for 23 years of partnering with us in growing the resort with accomplishments such as the resort master plan and the Teton Village Master Plan, Mary Kate Buckley for five years of wonderful strategic leadership including expertly guiding our resort through the COVID-19 pandemic, and all our amazing former and current JHMR employees,” said Jay.