Two Victorian alpine resorts reliant on taxpayer cash are being opened to private investment in an effort to reduce state government subsidies.
Mount Baw Baw Alpine Resort and Lake Mountain are seeking long-term private managers with the Victorian government saying it will help build a more sustainable economic future for the resorts.
Environment Minister Ryan Smith says the tender process would secure the resorts' future while reducing the burden on taxpayers.
"Importantly, by engaging private operators, the reliance on taxpayers' pockets to subsidise these resorts will be reduced," Mr Smith said on Friday.
The state government spent more than $1.4 million propping up the Mount Baw Baw resort in 2012 and around $5 million the year before, its annual report shows.
Mount Baw Baw Alpine Resort chair Vicky Papachristos said the board's vision was to attract investment proposals that were sensitive to the local environment while ensuring the resort remained economically viable.
"For some years, Mount Baw Baw Alpine Resort has required additional government funding to remain operational," Ms Papachristos said.
"We are seeking to draw on the expertise of the private sector to reduce this burden on the taxpayer and produce a better overall offering."
Lake Mountain is already under a short-term 12-month agreement with private operators which commenced in December 2012.The two-stage tender process opened on Friday with private investors bidding for the right to operate and manage the resorts under a four-year agreement.