Developments

Ski resort makes loss despite $2.5m subsidy

Victoria’s Lake Mountain Alpine Resort made a $212,000 loss in 2013/14 despite almost doubling its visitor numbers.

The Belgravia Leisure-managed ski resort received $2.5 million state government handout in 2013/14, (down from $3.8 million the previous year) but despite hosting 131,000 visitors (up from 72,000 in 2013) still managed to post a loss.

Lake Mountain Alpine Resort chairman Tony Thompson declared the result as “encouraging”, as the board had budgeted for a $1.1 million deficit.

By comparison, the Mt Hotham ski resort made a profit of $1 million in 2013/14, while Mt Buller and Mt Stirling made a $659,000 profit in the same year.

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