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.

Australia’s ski industry is becoming reliant on fake snow machines, which kept Thredbo open in 2026 amid the lowest snowfall in 20 years.

Historically, there has been a vanity aspect to owning both of Australia’s major alpine resorts, Thredbo and Perisher. But global warming has melted their appeal.