Victoria's alpine resorts are receiving taxpayer funding as the state government prepares to privatize the operations of two mountains.
Alpine Resorts Victoria (ARV), the managing body for the state's six snow resorts, currently requires a Treasury "letter of comfort" to maintain operations. The alpine sector contributes an estimated $2.14 billion to the state economy annually.
To address ongoing financial losses, the authority is moving to privatize the operations at Mount Baw Baw and Lake Mountain. According to the Alpine Resorts Victoria annual report, a $13 million taxpayer subsidy contributed to the authority reporting a technical surplus of $4.39 million. Without this government intervention, ARV would have incurred a multimillion-dollar deficit.