Wyoming, where the guest ranch began.

A Wyoming tradition

Few places are as tied to the guest ranch as Wyoming. Eatons’ Ranch near Sheridan, often called America’s oldest operating dude ranch, has welcomed guests since the late 1800s. The Dude Ranchers’ Association marks its 100th year in 2026. From the Bighorns to the country around Cody and Yellowstone to the valleys near the Tetons, Wyoming ranches have hosted families from all over the world for generations.

Those ranches are part of the state’s identity and its rural economy. Many are still run by the families who built them, and many of those families are now deciding what comes next.

Why we invest in Wyoming guest ranches

• Lasting demand. Families still want open country, horses, and a week away from screens, and many guests return year after year.
• Land worth keeping whole. Guest ranches often sit on large, intact properties with water, grazing, and access to public land.
• A natural fit with working agriculture. Many Wyoming guest ranches also run cattle, raise hay, and keep large horse herds.

How it fits our platform

Our agriculture strategy already reaches into Wyoming, with cattle ranches, hay, and feeding. A guest ranch can draw on that: horses and hay from our own operations, beef from our processor, and the know-how of people who work cattle every day. Where it fits, conservation easements can protect the land permanently.

Carrying the tradition forward

We restore lodges and cabins with care, keep the wranglers and cooks who make the experience, and hold each ranch for the long term. The traditions guests return for — the morning ride, the evening meal, the rodeo in town — stay. More on our guest ranch approach →