Thredbo ski resort value slashes over half as climate pressures mount

EVT’s latest annual results disclosed that Thredbo Alpine Resort’s independent valuation has been cut from $292 million to $143 million, a reduction of more than 50 percent. The company attributed the loss to an unseasonably warm start to the 2026 winter and the capital needed for new chairlifts and expanded snowmaking. Revenue from lift tickets rose 10 percent on the strength of the 2025 season, yet the firm intends to divest roughly $800 million of non-core properties after one outlet's review later this year.

Climate scientists warned that the warm winter, driven by El Niño and long-term warming, has shortened the ski season and could see a further 30 percent decline by 2050. The resort’s business model, heavily reliant on natural snow, is now deemed “structurally exposed to a warming climate.” Local officials noted the write-down was anticipated after a post-COVID valuation and expressed concern over any potential sale, hoping future owners will respect the community’s heritage.