Major news in the ski industry this week: the impending sale of Jackson Hole Mountain Resort.
After more than three decades of ownership, the Kemmerer family announced plans Thursday to pass on one of the country’s premier skiing destinations to two local investors who sit on the resort’s board.
Rumors of a sale have swirled for years, with many in the community speculating the independent resort would eventually be scooped by giants of the ski industry who have been consolidating slopes for years — like Vail Resorts, Alterra Mountain Company and Aspen Skiing Company.
In a statement, Jay Kemmerer said it was of “utmost importance … that the next ownership maintains the integrity and character of the mountain.”
The family has invested more than $300 million in the property since buying it in the early ’90s. This includes constructing the iconic Aerial Tram, helping create the Teton Village Master Plan and fostering greater air travel service to the region.
Kemmerer said he and his two siblings intend to sell to full-time locals Eric Macy and Mike Corbat, their families and a small group of co-investors. And he intends to stay on the board. Corbat is a former Citigroup CEO and Macy an international financier.
Both said they do not anticipate any changes to current business operations. But JHMR ticket prices have steadily increased as the region becomes exceedingly more expensive, raising questions about future affordability of the resort.
Reps weren’t able to answer additional questions in time for publication.