Thredbo 'exposed to a warming climate' as value cut by $149m
One of Australia's largest ski resorts has had its value halved, with its owner blaming a poor 2026 snow season and the need to install new chairlifts and more snowmaking.
The owner of Thredbo Alpine Resort, one of Australia's largest ski resorts, has reduced its value by more than 50%, writing it down by $143 million. This significant drop is attributed to a poor 2026 ski season and future spending on chairlifts and snowmaking infrastructure. The resort's owner, EVT, a hotel and entertainment corporation, is planning to divest approximately $800 million worth of non-core properties, which has sparked speculation about a potential sale of the resort.
Despite a 10% revenue increase from the resort due to strong 2025 snow season revenues, primarily from lift ticket sales, the valuation has been cut to $143 million from $292 million in the previous year. EVT's CEO, Jane Hastings, revealed plans to sell off non-core properties as part of a strategy to secure future growth in the hotels sector.
The write-down is particularly concerning as the resort is structurally exposed to a warming climate due to its dependence on natural snow cover. Climate experts warn that the snow season is shrinking, with a potential 30% decline in the ski season by 2050 due to the combined effects of climate change and El Niño.
Written by urgent.news from ABC News AU's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
