Thredbo resort back in business after bushfire closure
Written on the 14 January 2020 by Business News Australia
Event Hospitality & Entertainment (ASX: EVT) has reopened its summer operations at Thredbo after bushfires in and around the Kosciuszko National Park forced a closure at the start of the year.
All in-resort operations including mountain biking were expected to resume today, however areas in the park outside Thredbo remain closed until further notice.
Closed hiking routes include the Thredbo Valley Trail, the Mount Kosciuszko Summit Walk, the Dead Horse Gap Walk and others.
"Whilst the impact of the temporary closure is not currently material to the Group's earnings, the Group expects a slow business recovery whilst the broader Park area remains closed," Event said.
"Thredbo will remain in daily contact with NSW RFS and NPWS to stay informed on bush fire activity and conditions.
"The safety of residents, staff and our guests remains the highest priority and should conditions change, these authorities may direct Thredbo to evacuate the resort and the market will be informed if that occurs."
Shares in EVT were up 0.51 per cent at $13.87 by 1pm AEDT.
The Sydney-based group has a market capitalisation of $2.22 billion and operates a range of cinema brands in Australia, New Zealand and Germany, including Event Cinemas, Birch, Carrol and Coyle, and CineStar Cinemas.
With Alan Rydge as its chairman and leading shareholder, Event has 62 hotels and resorts around the world including QT and Rydges.
Business News Australia
Author: Business News Australia