Living and Leisure drops Mt Hotham development rights

Living and Leisure Australia Group has announced that its memorandum of understanding with the Victorian Government and the Mt Hotham Resort Management board for the proposed Mt Hotham village redevelopment have not been completed.

As a result, Living and Leisure Australia Group (LLA)'s exclusive rights to the development have ceased, with a company statement announcing "involvement in any future tender for village development at Mt Hotham will be assessed against the tender requirements and market conditions prevailing at the time."

The redevelopment was to have encompassed the realignment of the Great Alpine Road and subsequent development of residential and commercial property.

The LLA statement blamed "changes in both financial and property market conditions triggered by the Global Financial Crisis" for its decision.

The company's involvement in a second development, dependent upon the Mt Hotham Village Redevelopment, has also lapsed and will not be pursued further.

Through its Australian Alpine Enterprises Pty Ltd subsidiary, LLA operates the Hotham Skiing Company, and has invested $1.7 million in new snowmaking technology for the winter 2010 season.

An additional 22 state of the art high output TechnoAlpin fan snow guns will increase snowmaking power at Hotham Alpine Resort by 40% this winter, the snow guns being installed on hydrant points throughout Hotham's Heavenly Valley snowmaking network.

The additional guns bring the resort's total snow gun network to 77 high-output fan guns.

As LLA Chief Executive John Schryver explains, "previously installed snowmaking infrastructure helped to sustain a quality snow base through to the end of the 2009 snow season, which resulted in strong visitation building at both resorts from early in the season.

"This commitment by LLA to its continued investment in snowmaking will provide guests with greater confidence when booking snow holidays in the earlier and latter parts of the snow season, including school holidays."

Image shows Mount Hotham

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