Breaking: Jackson Hole Resort Reportedly Being Sold To Unknown Investors
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Jackson Hole ski resort located in Wyoming has recently made a significant announcement concerning the sale of their renowned ski resort. According to their press release issued yesterday, the resort is set to change hands, marking the end of a 31-year ownership era by the Kemmerer family. The potential buyers include a consortium of local families and a group of undisclosed investors. The details regarding the sale of Jackson Hole ski resort can be found in the provided press release. This news has garnered significant attention due to the resort's longstanding history under the Kemmerer family's ownership.
FULL PRESS RELEASE:
Jackson Hole Mountain Resort Plans to Sell to Local Families
Kemmerer Family to Fulfill Goal of Keeping JHMR Independent and Family Owned
by Jackson Hole
August 3, 2023
(TETON VILLAGE, WYO. — August 3, 2023) — 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.
“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.”
Reflecting on the Kemmerers’ Legacy
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.”
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 an everlasting impact. Jay’s vision to make JHMR a world-class resort led to many important milestones, including:
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
Built the Bridger Gondola and the Bridger Center in the winter of 1997/1998
Helped with the creation of the Teton Village Master Plan, which was approved in 1998
Supported Jerry Blann in the formation of the Teton Village Association, followed by the Teton Village Resort District several years later
Encouraged the establishment of Jackson Hole Air to support direct flights to Jackson, now available from 13 destinations
Purchased the Stilson property and subdivided it into Stilson Residences and the Stilson Transit Center
Built Sweetwater Gondola in 2017 to service Solitude Station, which was built in 2018/2019 and is regarded as the premiere learning center in the West for the Mountain Sports School
Championed Resort leadership in the development of the new Mountain Master Plan in 1996
In 2019, switched to 100% green energy, making it the largest resort in North America to run on green power
Consistently invested in employee housing throughout Teton County
In 2021, began managing capacity at JHMR to elevate the guest and employee experience, with many ski areas subsequently following JHMR’s lead
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 at large. 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 many others.
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