Home Depot co-founder Arthur Blank opens luxury lodge on Montana's Yellowstone River

For the past 25 years, Arthur M. Blank has quietly purchased ranchland in Montana’s Paradise Valley, adding one property at a time in a place he loves. What began as a personal connection to the valley has grown into a 33,000-acre collection of ranches, conservation land and hospitality ventures. With the opening of Auster at Dome Mountain, Blank is making one of those properties available to the general public year-round for the first time.

From Retail Success to Montana Stewardship

After losing his job at a regional hardware chain in 1978, Blank turned a career setback into one of American retail’s biggest success stories. He teamed up with Bernie Marcus to start The Home Depot less than a year later. By the time he stepped down as co-chairman in 2001, the company was valued at $50 billion. The following year, Blank joined an elite circle of NFL team owners by purchasing the Atlanta Falcons for $545 million.

The Auster Property: A Year-Round Destination

The new Auster property stretches across more than 6,000 acres beneath Emigrant Peak and the Absaroka Range, with four miles of riverfront and 20 one- to three-bedroom cabins designed for year-round stays.

Key features include:

• Main lodge with Southwind Kitchen and Saloon, including a rooftop deck, open to guests and locals
• Retail market, drive-thru coffee stand, and trailhead near the entrance
• Overnight guest amenities: pool, guided hikes, and horseback riding
• Adventure activities: whitewater rafting and fly-fishing trips arranged through local outfitters
• Golf access: tee times at Rising Sun Golf Course, an 18-hole course designed by Johnny Miller at the sister property, Mountain Sky Guest Ranch

Staying true to the relaxed spirit of the place, Blank’s team kept construction within the original 1960s guest facility footprint. They moved the old guest cabins to use as employee housing instead of tearing them down.

The Meaning Behind the Name

Even the name gives a hint of Blank’s vision. Auster comes from the Latin word for the south wind, chosen to suggest movement and arrival — a place where people can settle in after a long journey. Since most guests are traveling from far away to reach this 6,000-acre Montana ranch, the name fits.

A Philosophy Rooted in Core Values

This approach matches how Blank usually describes the ranches. He sees them not just as real estate but as an extension of the approach he used at Home Depot, which he later explained in his book Good Company. For Blank, it comes down to six core values: put people first, listen and respond, include everyone, innovate continuously, lead by example and give back to others.

"My family fell in love with Montana when we first began coming here more than 20 years ago," owner Arthur M. Blank said in a statement. "When you’re outdoors in this rich physical beauty where the world slows down, you can take a moment to reflect on what’s really important to you personally."

"For me, that’s enriching the lives of the people we serve in our businesses and the communities around us. By increasing our philanthropy in Montana, I’m hopeful we can make an impact where the needs are greatest."

Philanthropy and Conservation

Blank says much of his outlook comes from his mother, who inspired his approach to business: make a difference while you’re here because you only get one chance. For him, that means putting much of his fortune back into communities instead of just buying properties. He plans to give the vast majority of his wealth to his family foundation, which has donated more than $1.7 billion since 1995. The AMB West Community Fund, an associate-led giving committee of the Arthur M. Blank Family Foundation, is committed to donating more than $13 million to Montana nonprofits to strengthen communities across the state.

Each land deal carries the same message: the goal is to protect the land, not develop it. After Blank bought Paradise Valley Ranch in 2019, he placed about 8,800 acres under a permanent conservation easement with the Gallatin Valley Land Trust. This legal agreement prevents future residential or commercial building but still allows ranching and recreation.

This approach is consistent across all four Montana properties. Auster is now joining three others in the AMB West portfolio: Mountain Sky Guest Ranch and two additional properties.