Annual Report 2025: Strategic Objective 1 - Enable investment that drives sustainable businesses

Key Projects

Asset Management Strategy

ARV is responsible for managing $430 million in fixed assets that underpin the delivery of essential services across all resorts. These assets are critical to supporting the ongoing safety, reliability, functionality, quality, accessibility, capacity, and visual amenity of resort operations.

To ensure consistent and sustainable asset performance, ARV has developed a comprehensive Asset Management Strategy, supported by resort-specific asset category plans. This framework provides a structured, organisation wide approach to asset management, enabling ARV to maximise asset value and utility throughout their lifecycle. The strategy promotes consistency across all resorts and supports data-driven decision making.

Implementation of actions within the strategy will improve asset performance and service reliability, while embedding climate resilience across all investment decisions and ensuring compliance with statewide asset management standards. Identifying category plans helps to define the asset lifecycle, service needs and long-term investment requirements for each major asset class. This improves safety and reliability of essential services, improves operational efficiency and encourages future sector investments.

Lakeside Development at Falls Creek

ARV was able to secure a planning permit for a key priority for Falls Creek, commencing the process for activating the Lakeside precinct where the Australian National Antarctic Research Expeditions (ANARE) shed is located.

With appropriate planning approvals, ARV is able to create a new investment opportunity that opens the location up to new markets, including the snow play market and snow visitors.

ARV is now working through the permit conditions and continuing engagement with stakeholders to advance detailed planning and implementation of the Lakeside Precinct, which is a long-standing priority project identified in the Falls Creek Masterplan and broader visitor economy strategies.

It is anticipated this project will improve investment opportunities within the resort and enhance access for new and emerging markets.

Mt Hotham Snow Play and Activity Hub

The Hotham Hub was a key project for Mt Hotham that creates a high-quality snow play area to meet the needs of emerging markets.

With the delivery managed by ARV, the $7.5 million funding for this project was a partnership between the Victorian Government’s Regional Tourism Investment Fund and the Australian Government’s Local Economic Recovery Program.

With the Hotham Hub commencing operations in Winter 2025, the vibrant space offered visitors with exceptional snow play experiences, with quality retail, food and beverage and snow rental offerings.

ARV also commenced an Expression of Interest for commercial operations of the venues within the Hotham Hub from 2026 onwards, allowing the sector to access state-of-the-art facilities to deliver exceptional snow play experiences for this high-growth market.

This facility supports new and snow play visitor access to Mt Hotham and will be a key driver for growth for the area.

EOI for Mt Baw Baw and Lake Mountain

Since assuming management of Lake Mountain and Mt Baw Baw, ARV has introduced a series of operational changes that have enhanced the profitability of commercial services in these resorts, and also reduced operational costs. However, they continue to operate in deficit.

While ARV remains committed to delivering further efficiencies at Lake Mountain and Mt Baw Baw, other commercial entities may be better positioned to deliver more efficient resort operations and resort investment.

Within this context, ARV undertook an Expression of Interest process throughout 2025 to test the market for suitable operators for Mt Baw Baw and Lake Mountain, a process that is still under review.

Page last updated: 05/10/26