Lift tickets dearer

Press, 12 May 1984, Page 23

Lift tickets dearer

Mount Hutt skifield will raise its full-day adult liftticket prices from $l4 to $l6 this season, the annual report of the Mount Hutt Ski and Alpine Tourist Company reveals. The company obtained approval from the Department of Trade and Industry to increase its full-day adult lift charges by $1 to $l4 in July, 1983, and the road toll was raised from $3 to $4,

under an exemption from the price freeze. In the annual report, the chairman, Mr Peter Yeoman, says that the directors approved the increase in the price of lift tickets based on an adult day lift-ticket price of $l6, after a careful study of the 1984 budget. The increase is necessary to provide funds to service the company’s capital (term loans and shareholders’

funds), particularly because the profits will now be taxable as tax losses have virtually been absorbed, he says. The increase will also result in Mount Hutt’s becoming liable for higher rental charges from January 1, 1985. The company will negotiate for a review of the renal formula of 2.5 per cent of the gross revenue contained in the lease, during the year.