Australia’s Ski Season Coming To A Disappointing Conclusion
Down Under — Last September, Australian ski resorts were enjoying strong snowpacks and enjoyable spring skiing conditions. This September, things look very different.
Australia is dealing with arguably its worst ski season ever. Warmer-than-average temperatures, less-than-average snowfall, and a decent amount of rainstorms have impacted the bottom lines of various ski resorts. This has forced some major resorts to close earlier than usual, including Charlotte Pass, Falls Creek, Hotham, Mt. Buller, and Selwyn.
Threbo became the second-to-last mountain standing, closing for the season this past weekend. The ski resort is reportedly for sale after a major devaluation driven by the warming winters and the need for infrastructure upgrades.
The last ski resort standing is Perisher. While Vail Resorts has received flak for mountain operations efforts in other parts of the world, they’re clearly pushing to stay open as long as possible. Perisher announced they will close on September 25th, ten days earlier than they originally aimed for.
While some ski resorts in Australia aim to make it to October, no mountain will make it that far this year.
International Implications
Vail Resorts owns three ski resorts in Australia: Falls Creek, Hotham, and Perisher. We’ll know more about their season during the upcoming earnings report for Vail Resorts, and it likely won’t be good. With a proxy battle possibly coming over the company, these stats will likely not help investors feel confident about this market.
If you’re still looking to ski in Australia this year, your last option is Perisher. On the bright side for Aussies, they are building an indoor ski resort near Sydney, which could mean more reliable skiing.
Image/Video Credits: Perisher Ski Resort, Threbo Resort
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