Jackson Hole Mountain Resort Plans Sale to Local Families

Kemmerer Family to Fulfill Goal of Keeping JHMR Independent and Family Owned

After 31 years of ownership, the Kemmerer family today announced its intent to sell Jackson Hole Mountain Resort (JHMR). The Kemmerer family bought JHMR in 1992, and their passion, dedication and commitment turned the Resort into a world-class destination. As the Kemmerers watched the consolidation of the ski industry, their highest priority was maintaining JHMR’s status as an independent, family-owned Resort. Owners Jay, Connie and Betty Kemmerer found the perfect buyers: Teton County residents, close Kemmerer family friends and JHMR Board Members Eric Macy, Mike Corbat, their families and a small, select group of co-investors.

Proud owners of JHMR Connie, Betty and Jay Kemmerer

“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.”​

During over three decades of ownership, the Kemmerers reached many proud milestones and are grateful for all the help they have received along the way. Jay Kemmerer shared some of his family’s thanks: “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.”

Having both served as JHMR Board members - Mike for two years and Eric for nine - the new ownership group leaders have had key input into and approval of all our financial and operational plans. They are delighted with the direction of JHMR.​

Eric Macy, JHMR board member and future co-owner

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 myriad industries. Eric’s unique 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. He then moved to Jefferies & Co., an internationally recognized investment banking firm also headquartered in New York, where he held various positions until 2006. A full-time resident of Jackson, Eric 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 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.”

Mike Corbat, JHMR board member and future co-owner

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. In the process, Mike made Citi a simpler, smaller, safer and stronger institution and significantly improved the quality and consistency of Citi’s earnings. Mike 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.​

“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.”​

Jay will remain actively involved in JHMR as a part of the new ownership group and as a board and executive committee member. Mike and Eric do not anticipate any changes to current business operations. Having served alongside Jay and Connie as board members, Eric and Mike have had key input into and approval of all of JHMR’s current operating and financial plans. They endorse these plans and do not foresee change. They look forward to continuing to invest in JHMR improvements, employees and the community while maintaining JHMR’s world-class reputation. Mike and Eric and their families take great pride in the long-term stewardship of JHMR and look forward to decades of continued success.

According to JHMR's official press release, 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.

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