Rising interest rates hasn't deterred those looking to spend on "lifestyle properties" in the $1 million to $2 million range, according to one agent.

In May, a one-bedroom apartment in Thredbo's sought-after Sequoia complex sold for $1.65 million at auction.

Selling agent Michelle Stynes of Forbes Stynes Real Estate said buyers in the market for a lifestyle property - one for their own enjoyment, not necessarily for investment return - were still active.

"The right product is still getting good prices," she said.

But not all areas of the market are seeing the same success.

Cliff Wallis and Sayaka Mihara, owner-operators of Perisher's Sundeck Hotel, are preparing for another busy season despite plans to sell last year.

They listed their hotel and business for sale in September, more than 30 years after they took ownership.

It attracted strong interest but Mr Wallis said the right buyer - with the right price - didn't come along.

"Interestingly, I think nearly all the people bidding on it were planning to put managers into the place, which is not the best outcome for the hotel," he said.

His regular guests - some who have been visiting for more than 30 years - were concerned about what would happen to the hotel if it sold.

Mr Wallis said people were worried their $250 or $300 nightly rate might suddenly become $500 per night under new ownership.

The couple, who also own and operate the Tathra Hotel on the NSW South Coast, will instead employ an experienced manager to help them run Sundeck this year.

They'll need the extra hands; rooms are already close to fully booked for the season.

"We open our bookings in February each year and basically by the end of February we were full," Mr Wallis said.

Just on the other side of Front Valley, the main home run at Perisher, another hotel failed to sell last year.

The Perisher Manor was listed for sale in August with price expectations of more than $7 million.

However the unique leasing system within Kosciuszko National Park was a sticking point for interested buyers, Ms Stynes said.

Perisher Manor's existing lease is due to expire in 2033 and there are no guarantees of renewal.

When it expires, the lease will be offered to market via a competitive selection process.

Ms Stynes, who was the listing agent for both hotels, said prospective buyers looked into getting the lease extended but National Parks would not agree.

Meanwhile, Sundeck Hotel's lease with the NSW National Parks and Wildlife Service runs until 2058.

While the market had slowed in the past 12 months, inquiries had surged ahead of the ski season's opening weekend, Ms Stynes said.

"Probably in the last 10 days, just in this lead up to the long weekend, the inquiries have picked up," she said.

"I think, a little bit like everywhere, the market has definitely slowed down.

"However, we're still making sales ... it's just taking a bit longer."

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