Perisher is Australia’s largest ski resort with 47 ski lifts and a capacity of over 51,000 skiers lifted per hour. Transfield formed a joint venture with Japanese company Kumagai Gumi in the mid 1980s and led development of several major projects in the New South Wales Snowy Mountains. The consortium was responsible for development and construction of the Blue Cow Ski Resort, the Station Resort at Jindabyne and the Skitube Rack Railway; an underground train with three station terminals, delivering skiers from Thredbo Valley directly into the snow fields.

Transfield purchased Guthega Ski Resort and amalgamated with Perisher Smiggins in 1995 to form Perisher Blue, the largest ski resort in Australia.

Transfield Holdings owned Perisher with co investor Consolidated Press Holdings.

In 2015 Transfield Holdings sold its shareholding in Perisher. This decision was taken following an approach by the North American listed ski and leisure giant Vail Resorts. Vail’s interest in Perisher coincided with both Transfield and Consolidated Press Holdings strategic position on Perisher.