Inside business case for Winter Sports World, Australia's first indoor snow resort

The snow play area in Winter Sports World will be the largest in the Southern Hemisphere. CGI render

Winter Sports World (WSW), Australia’s first indoor snow resort, a $700 million tourism and sports destination to be built in Western Sydney, has released its investment case and independent market modelling, revealing a commercially robust, first-mover asset class that brings a globally proven attraction model to Australia for the first time.

The project offers entry into a market with exceptionally strong underlying demand but no domestic supply.

Across Europe, Asia and the Middle East, more than 150 indoor snow centres operate successfully, many attracting over 1 million visitors each year and sustaining more than two decades of continuous profitability.

WSW brings this high-performance asset class to a region experiencing record population growth, expanding aviation access and strengthening tourism demand.

Why an indoor snow resort makes commercial sense in Australia

Australia is one of the world’s highest outbound ski markets per capita, yet it has no indoor snow facilities.

Natural snowfall is becoming increasingly unreliable, the national snow season lasts just 110 days, and access to mountain resorts is expensive and time-consuming.

Despite these constraints, Australians make 2–2.5 million domestic ski-field visits annually and more than 1 million outbound snow trips, making Australia Japan’s top inbound snow market.

This structural imbalance of strong demand and limited supply creates an unusually attractive investment environment for an indoor snow resort.

WSW’s modelling demonstrates that significant patronage exists year-round across families, elite athletes, schools and the learn-to-ski market.

Stollznow Research, which conducted independent market analysis, counted only domestic respondents who said they would “Very likely” visit.

Even under this deliberately conservative approach, demand exceeds 1.3 million visits annually.

International visitation and the opening of Western Sydney International Airport just 15km from the site have not yet been factored into modelling.

Strengthened international confidence through Bonski partnership

WSW has recently signed a Memorandum of Understanding with Bonski Group, the world’s largest indoor snow operator, formalised in Guangzhou in the presence of the NSW Minister for Trade.

Bonski operates many of the world’s most advanced indoor snow centres and brings global expertise in snowmaking, guest experience, safety and commercial operations.

The partnership validates the project’s scale, strengthens operational certainty and underscores growing international confidence in Western Sydney as an emerging destination for major tourism infrastructure.

Compelling investment fundamentals for global markets

Using the Stollznow demand forecast, WSW’s base-case scenario projects:

·         Equity IRR of 26.9%

·         Payback period of 5.9 years (excluding asset realisation)

·         $220 million annually from snow experiences alone, excluding food & beverage, retail, hotel, conferencing and events revenue streams

The diversified revenue model reduces volatility and is insulated from weather dependency, unlike traditional ski resorts.

Double-digit annual returns are projected on domestic visitation alone, with additional upside from international markets, including Hong Kong, China and Southeast Asia, where indoor snow experiences have proven highly popular.

Quotes from Neil Stollznow, Stollznow Research

“For a country that’s pretty arid, Australians are super keen skiers. More than half the population has skied or snowboarded at some point. People across every demographic and region participate in skiing. That creates a very stable demand base.”

“Why would you build Winter Sports World? The real question is: why wouldn’t you build it?”

Quotes from Peter Magnisalis, Managing Director, Winter Sports World

“This is not a prototype. The model exists, it works, and it works exceptionally well. We’re just deploying a proven global asset class into a market with unmet demand.”

“The demand profile is diversified, predictable and stable, and that significantly reduces patronage volatility.”

“The patronage and delivery risks that traditionally concern investors have been deliberately mitigated. WSW has secured the world’s largest indoor snow operator, Bonski, which has delivered more than a dozen advanced centres internationally and will manage operations under an MOU, providing global benchmarking and operational certainty.

"The project is located in an infrastructure-rich precinct with the new international airport minutes away as well as being within an hour of the Sydney CBD and Kingsford Smith airport. We are in the heart of Australia’s rapidly growing Western Sydney community. The financials are compelling and the interest is strong.”

ABOUT WINTER SPORTS WORLD

Winter Sports World is a $700 million indoor snow resort to be built at Penrith, Western Sydney (New South Wales, Australia). Australia’s first indoor snow resort will be an anchor tourism attraction for the Western Sydney visitor economy.

Delivering year-round snow experiences, significant job creation and strong tourism uplift, Winter Sports World is expected to attract more than 1.3 million visitors annually. It incorporates advanced sustainability measures including chemical-free real snow, energy-efficient systems and net-zero operational goals.

Winter Sports World will position Western Sydney as a globally competitive destination for sport, tourism and hospitality.

More information: wintersportsworld.com.au

ABOUT BONSKI GROUP

Bonski Group is a global leader in indoor snow operations, managing many of China’s and the world’s largest and most advanced indoor snow centres. With deep expertise in high-volume alpine environments, the group delivers full operational services spanning snowmaking, guest experience, safety systems, commercial optimisation and energy-efficient performance.

Bonski Group is recognised for operating mega-domes at scale and implementing world-leading sustainability and refrigeration technologies. As a trusted partner to governments and developers, the group supports projects from commissioning through to long-term management, ensuring efficient operations, strong commercial outcomes and exceptional visitor experiences.