Since buying Perisher in 2015, Vail Resorts has made it clear that it hopes to broaden its influence in Australia. According to The Australian Financial Review, that will happen sometime in the near future as the US-based ski resort operator will reportedly pay some $85 million USD ($120 million Australian) for Hotham Alpine Resort and Falls Creek.
The two ski areas host some of the best natural snowfall in all of Australia and have been growing in popularity over the past 5 years. The purchases will cement VR as a winter sports giant in both Oceania and Asia.
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The move is surprising as the markets, and especially their stock– have both taken hits since December 1st. Harbingers aside, Vail Resorts is moving forward.
Hotham Alpine Resort:
- Average Annual Snowfall – 120″
- Vertical Drop – 1.346′
- Skiable Terrain – 790 acres
- Lifts – 14
Famous for its off-piste opportunities, Hotham is one of the few resorts in Australia that has access to true side-country terrain, some of which is above treeline.
Falls Creek:
- Average Annual Snowfall – 160″
- Vertical Drop – 1,247′
- Skiable Terrain – 1,110 acres
- Lifts – 14
Falls Creek is home to one of the highest snowfall averages in Australia and as such, is normally home to some pretty damn good conditions. Great groomed runs and a lot of skiable terrain make this a favorite for anyone who wants to get away from the crowds of Perisher and Thredbo.
Find the entire Australian Financial Times article here:Â Vail Resorts to buy Mount Hotham, Falls Creek ski fields for about $120 million