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Thredbo is a village and ski resort in the Snowy Mountains of New South Wales, Australia, situated in a part of the Snowy Monaro Regional Council, and has been operated by Event Hospitality and Entertainment since 1987. It is approximately 500 kilometres (310 mi) south of Sydney, accessible by the Alpine Way via Cooma, Berridale, and Jindabyne. The village is built in the valley of the Thredbo River, also known as the Crackenback River, at the foot of the Ramshead Range. The town has approximately 4,150 beds, but a permanent population of only approximately 477 people. When the mountain is fully covered by snow, Thredbo has the longest ski runs in Australia, attracting approximately 700,000 winter visitors annually. In summer, Thredbo is a hiking and summer sport destination, offering rock climbing and abseiling, fishing, cross-country cycling and downhill MTB riding and hosts a blues music festival, and gets approximately 300,000 summer visitors (figures are as of 2005[update]). Thredbo resort was developed by a syndicate of people who were at the time working on the Snowy Mountains Hydro-Electric Scheme. In 1957, the syndicate was granted a head-lease over the area that Thredbo now occupies. Development occurred in the following years under Lend Lease Corporation. In January 1987, Amalgamated Holdings Limited (AHL) (now known as Event Hospitality and Entertainment) purchased the head lease from Lend Lease. Event Hospitality and Entertainment operates Thredbo village's services, real estate, and lease arrangements as a public company; however, a range of private businesses operate around the year providing activities, shopping, restaurants, accommodation, tours and nightlife. From Wikipedia