Jackson Hole Mountain Resort's Owners Planning To Sell
Powder Magazine has just learned that The Kemmerer Family is planning to sell Jackson Hole Mountain Resort (JHMR), the world-class ski resort located near Jackson, Wyoming.
A press release states that the Kemmerers intend to sell to JHMR board members Eric Macy, Mike Corbat, and a group of investors.
Jay Kremmer said the following about selling the resort:
“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,”
“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..."
Jackson Hole Mountain Resort
The Kemmerer Family, under the leadership of Jay Kemmerer, have owned the resort since 1992. They have reportedly invested over $300 million in capital improvements in that time.
Highlights of the long list of investments include:
"-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
-In 2019, switched to 100% green energy, making it the largest resort in North America to run on green power
-Built the Bridger Gondola and the Bridger Center in the winter of 1997/1998"
Jackson Hole has remained in the cultural zeitgeist through events like Kings & Queens of Corbet's Couloir and Travis Rice's Natural Selection Tour.
The mountain's impressive snowfall and steep terrain have been marketed well throughout the digital age. Kemmerer and his team are responsible for these successes.
Despite the mountain's notable popularity, the Kemmerers have kept the resort privately owned. Ikon Pass holders can ski at Jackson, but the likes of Alterra or Vail have been unable to add the resort to their portfolios.
The Kemmerers stress that the resort will remain family-owned and operated under the leadership of board members Eric Macy and Mike Corbat.
Jackson Hole Mountain Resort
The press release finished with what to expect for JHMR moving forward:
"Following the transition, Jay will remain actively involved in JHMR as a part of the new ownership group and as a board and executive committee member, providing his expertise and insight and helping to guide the strategic direction of the Resort.
The transaction is subject to customary closing conditions and approvals and is anticipated to close by end-of-year 2023. Financial details of the private transaction will not be disclosed."
Stay tuned in here at Powder Magazine for updates regarding the sale of Jackson Hole Mountain Resort. We'll keep you covered.
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