Jackson Hole Mountain Resort, WY, Unveils Plans for New “6 Star” Base Area Hotel

Jackson Hole Mountain Resort, Wyoming, has recently announced plans to sell part of the Cody Lot to a yet-to-be-named buyer, who will build a luxury hotel and condominium complex, reports Jackson Hole News & Guide. While details of the project are still limited and construction is likely years away, resort leaders say it will be an extremely high-end development, comparable to or exceeding the quality of the Four Seasons.

“It’s probably going to be six-star,” Jackson Hole Mountain Resort co-owner Mike Corbat said at a Teton Village Association’s board of directors meeting.

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The resort currently owns the Cody Lot but leases it to the Teton Village Association (TVA) for public parking. Resort co-owners Mike Corbat and Eric Macy want to reduce the number of parking spaces in the lot from 258 to 180 and hand over control of those spaces to the new developer, who would charge market rates for parking. In exchange, the resort says it will donate land near the Crystal Lot for the TVA to build a parking garage.

Parking in Teton Village currently ranges from $35 to $45 a day in prime lots, with discounted or free options for carpoolers in more distant lots. The TVA uses parking fees, along with resort district tax revenue, to fund snow removal, concerts, and sidewalk maintenance. Losing control of Cody Lot parking could reduce the TVA’s income, but leaders acknowledge that a luxury hotel could bring in more tax revenue from higher-spending guests.

Some TVA board members initially objected to privatizing the parking, arguing it goes against past agreements. The board’s attorney warned that the 1998 Teton Village Master Plan grants certain parking rights to local landowners and that changes might require their input. Resort executives disagree, insisting the TVA has the authority to make the change.

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Despite the legal concerns, the TVA board voted to support the resort’s development plans. The vote does not officially approve the transfer of parking control, which would likely happen after Teton County signs off on the hotel’s preliminary development plan. Resort representatives say the project has been discussed for years and will help create a “world-class destination village” while still leaving 180 public parking spots in the upper lot.

If the project moves forward, it will mark one of the most significant changes to Teton Village in years, reshaping both its skyline and how visitors access the mountain. Supporters see it as a chance to boost the area’s appeal and economic impact, while critics worry about losing convenient public parking and setting a precedent for privatizing shared resources. For now, the proposal’s fate rests on county approvals and ongoing negotiations, leaving the community watching closely to see how the balance between development, access, and tradition will be struck.