The resort opened the slopes at 8.30am today, with dozens of people queueing for their first run.
General manager Stuart Diver said the conditions were “unbelievable”.
“This was all green about five days ago, and we’ve just had snowfall after snowfall, so it’s been amazing,” he said.
The snow has been heavy enough that the resort is opening up runs that are normally closed at this time of year.
Last year’s season was truncated by the COVID-19 pandemic, which imposed a 50 per cent cap on visitors.
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While the virus is by no means gone, Mr Diver said things would be different this year.
“Obviously COVID is still with us, and the safety of our staff and the community is paramount to us,” he said.
“We’ve hopefully got a few less restrictions outside, but in buildings, it’s the same as everywhere else in NSW.”
The Bureau of Meteorology has forecast more snow for the alpine regions including Thredbo in the next 24 hours.
Elsewhere in the region, rainfalls are expected in south-east NSW and eastern Victoria.
Most falls will be light, but isolated spots could see up to 50mm fall.
Temperatures are forecast to remain slightly lower than average, with a top of 19C for Sydney and 16C for Melbourne for the rest of the weekend.