One of Wyoming's tourism icons will go away next year.

After 40 years of operation, Jackson Hole Mountain Resort's aerial tram will be decommissioned in the fall of 2006, resort officials said Friday.

While the tram - with its signature red cabins that take skiers and tourists to the top of 10,927-foot Rendezvous Mountain for a breathtaking overlook of Jackson Hole - is safe for use for "multiple years," resort owners decided it should stop running next year before any safety concerns arise, resort President Jerry Blann said.

"This is a sad day for all of us," Blann said in a news conference. "Everyone who stepped foot on that tram probably has a memory of it … She served us well, but she is a lady of the '60s that's been going 100 percent summer and winter, and she has earned a graceful retirement."

Resort owner Jay Kemmerer acknowledged that the decision may affect business at the resort, in Jackson and the state. But he and sister Connie Kemmerer said the cost of replacing the tram - estimated at $20 million - can't be justified in light of other improvements at the resort.

"I think this is a wise, courageous and honorable choice, rather than waiting to figure out all the repercussions and even the financial impact," Connie Kemmerer said.

Blann did leave the door open to possibly "re-evaluate" the decision if "partnerships" with other entities - including state government - were developed to replace the tram.

"This being the icon that it is … there might be an argument, should local and community efforts and a groundswell be developed, to perhaps tap some sources that might be available in the state," Blann said.

But Wyoming Business Council CEO Tucker Fagan said Friday he didn't see an immediate way for the state to provide money for such a project, considering the Wyoming Constitution's prohibition against government spending for private entities. Grant programs such as the Business Ready Community program provide grants only for community-owned infrastructure, he said.

That's not to say that state officials don't recognize the value of the tram to the state's tourism economy.

"It's disappointing news for all of us," said Diane Shober, the state's travel director. "Grand Teton National Park draws people from all over the world, and the tram is a good way for visitors to see that entire valley from a different visual perspective."

The tram - which began operation July 31, 1966 - has carried an estimated 2 million skiers and tourists up the 4,139 vertical feet at Rendezvous Mountain, which is part of the Teton Range. The two cabins can hold up to 52 people each.

It provides access to most of the resort's ski runs, including Rendezvous Bowl and other areas for expert skiers.

The resort's focus in recent years has been on improving options and lift service for beginner and intermediate skiers. Since 1992, some $55 million has been spent on improvements, including two new four-person lifts.