Gay Ski Week in Queenstown may be cancelled due to a cash flow problem and reduced bookings this year.
Mike Sanford has run the event for nine years and says a decision to move it because of the Rugby World Cup has contributed to the reduction in bookings.
Last year, almost 1000 gay and lesbian skiers and snowboarders attended Gay Ski week in September.
This year's event is due to start at the end of next week. About 300 people are booked.
Mr Sanford wants businesses to contribute $25,000 in cash to guarantee the event.
He says Gay Ski Week injects $1.2 million into the economy there.
Mr Sanford says the event will never be held again if it is cancelled.