North Island skiers will be feeling more optimistic about winter following the news there could soon be a new king of the hill, after two companies were revealed as preferred bidders for the beleaguered Ruapehu ski operations.

Whakapapa Holdings Ltd and Pure Tūroa Ltd are both bidding to buy Ruapehu Alpine Lifts’ (RAL) ski fields for $1 each.

The two companies are set to split the existing ski business, with the Whakapapa Village and Tūroa-Ōhakune being run under separate passes.

While it’s a rare opportunity to be able to pick up a ski field for pocket change, let alone two, a successful bidder will also be responsible for the “significant” financial obligations of RAL.

The ski operator went into administration last year owing $45 million. Even with bridging funds from the Ministry of Business, Innovation and Employment (MBIE) of around $6m, it is a substantial debt that new owners must service.

Administrators PWC were hopeful that the fields would be open in time for the 2023 ski season and there was a lot of interest in the “1,050 hectares of world-class freeride terrain” across Whakapapa and Tūroa.

Out of a potential field of four, Cabinet approved the two New Zealand consortiums as preferred bidders.

How much will new Ruapehu ski passes cost?

Although passes are not yet on sale, both Pure Tūroa and Whakapapa Holdings have revealed their expected lift fees for 2023.

Under the current plan, visitors would need separate passes to ski at the two Ruapehu fields.

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Whakapapa has priced its basic adult season pass at $599.

With the proposed ski season only weeks away, it proposes keeping this “earlybird” pricing through 2023.

If the bid is successful, these could go on sale as soon as next week, following a June 20 confirmation meeting.

“The ski areas on Mt Ruapehu are hugely important to the region, and indeed the whole country,” says the head of Whakapapa Holdings Ltd, Dave Mazey.

The former ski area chief executive is running the bid with New Zealand investment partners and a 25 per cent stake from the Crown.

Pure Tūroa is currently advertising “earlybird” pass costs at $799 for adults and $399 for a youth pass on their website, which says they are “working hard on opening Tūroa for July 2023”.

Both potential operators said that they would be offering benefits to existing Life Pass holders, who bought lifetime passes with old operators RAL.

The 14,000 life pass holders represent a substantial interest group in the running of the fields, each having paid around $4000 for a pass.

Whakapapa Holdings says that Life Pass holders will need to pay a $1850 ‘reactivation fee’. This will be split into two instalments of $599, ahead of the 2023 and 2024 seasons.

PWC said that the existing funds from the life pass holders and other shareholders in the mountain were being held “secure in the form of being held in a trust until the season commences”.

Earlier this week, Ruapehu hapū raised concerns about the speed with which the bids were being considered. Ruapehu/Whanganui hapū grouping Patutokotoko reportedly demanded consultation with the Government before the bids were set to be concluded on June 20. Whakapapa Holdings said engagement with tangata whenua had been a priority during the past few weeks and that iwi support had been essential for current the reinvestment at the Whakapapa Ski Area.