Perisher Manor listed for sale by Breitfuss family with Forbes Styne Real Estate

Located in a prominent position at the base of the ski resort, the 59-room hotel is expected to sell for more than $7 million based on current interest.

Hoteliers and developers are among those who have so far shown interest in the hotel, which fetches a nightly rate of $545 per person in peak season.

However, buying a snow business isn't like any other property transaction.

Owned and operated by the Breitfuss family, Perisher Manor occupies a 5376-square-metre site leased by NSW National Parks and Wildlife Service.

Property titles in Kosciuszko National Park - including those in Thredbo and Perisher - fall under a leasehold system.

While the NPWS leases directly to operators in Perisher, Thredbo differs slightly. Kosciusko Thredbo Pty Ltd, a subsidiary of Event Hospitality and Entertainment Ltd, is the head lessee which then sub-leases properties to operators.

Once a lease expires, there is no automatic right for an existing tenant to have their lease renewed.

Instead, the opportunity is offered to market via a competitive selection process or, in some cases, direct negotiations with the existing tenant.

Perisher Manor's current lease commenced in 1991 and is due to expire in 10 years.

The Breitfuss family took over the hotel after the business was placed into receivership by its previous owner around 1989.

Set over three levels, the hotel is licensed for 142 beds across its 59 rooms, which includes staff quarters. The main building also includes a bar and restaurant and a ground-floor cafe which is sub-leased.

Adjacent to the main building is a large pub and food court, with two food outlets run by Perisher Manor and two sub-leased.

At June 2022, the business had more than $2.28 million worth of accommodation bookings forecast.

Michelle Stynes of Forbes Stynes Real Estate is leading the expressions of interest campaign for Perisher Manor.

Hoteliers, developer syndicates and super fund owners were among the 66 interested parties who had contacted Ms Stynes in the first three weeks since the property was listed for sale.

She said while there were risks involved with buying properties on a leasehold system, genuine buyers understood the opportunity of the site.

She confirmed there had been interest in the $7 million to $8 million range, however this could be pushed higher.

"We believe that we have a number of buyers that will pay a little bit more to be in that lodge, so when it does roll over at the end of the lease, they're in there and can discuss with National Parks," she said.

Among the most recent sales in the area was Kooloora Ski Lodge, which sold to a local lodge operator for more than $3 million earlier this year after a campaign overseen by Ms Stynes.

Perisher's Marritz Hotel and Salzburg Apartments, owned by hospitality company Mulpha International, were listed for sale in 2021.

Despite price expectations reportedly in excess of $5 million for the four-star Marritz Hotel alone, the owner decided not to sell the properties.

MORE PROPERTY NEWS:

Ms Stynes said there had been strong interest in snow properties in recent years and believed many buyers were seeking a lifestyle change.

Following a tumultuous two years for many snow businesses, 2022 has seen a dramatic shift.

Business owners in Cooma and Jindabyne have shared stories of optimism and rediscovered confidence as hordes of skiers and boarders returned to the mountains.

Prices of accommodation in Jindabyne peaked at an average of $760 per night during some weeks this winter, for what locals said was one of the busiest periods on record.

We've made it a whole lot easier for you to have your say. Our new comment platform requires only one log-in to access articles and to join the discussion on The Canberra Times website. Find out how to register so you can enjoy civil, friendly and engaging discussions. See our moderation policy here.

Our journalists work hard to provide local, up-to-date news to the community. This is how you can continue to access our trusted content: