Ski resorts ramp up investment as competition builds overseas

ABC NEWS (Australia)

It's been a difficult few years for Australia's ski resorts with two poor seasons, rising costs, and increased competition from overseas resorts. Massive investments being made suggest operators see a strong future for the industry, one of our many tourist areas impacted by climate change.

Transcript

00:01Despite increased competition from resorts in New Zealand and Japan

00:05and the reality of a slow decline of natural snowfall due to climate change,

00:10Australian resorts are making substantial investments to grab a new generation of snow lovers.

00:15I'm in Perisher, where the international parent company of the resort

00:19has just spent more than $25 million on a new chairlift,

00:23one of several new pieces of infrastructure in Australian ski resorts.

00:27It's very hard to ski in Australia, apart from a few places in Tasmania.

00:31All of the resorts are between our two biggest capital cities, Melbourne and Sydney.

00:35They're only open for a few months of the year to try and recoup that investment.

00:40But with population growth and increasing diversity of the audience of people who come to skiing,

00:45that investment is being made.

00:47But it is a big bet.

00:49We're talking about millions of dollars on an asset that only does one thing

00:53in an area far from population centres for a season that is measured in months.

00:58That's why it's a lot easier to visit a ski resort than it is to own one.

Category

Transcript

Be the first to comment

Recommended