Escalating delivery costs, challenging New Zealand sponsorship and media markets, combined with international federation sanctioning fees and prize money being indexed against strong European currencies, have made the event untenable for the Winter Games NZ Charitable Trust.
The Games, which have predominantly been held in and around Queenstown and Wanaka, were the largest snow sports event in the southern hemisphere.
It will bring an end to the country's snow sports pathway events provided by the Games, including FIS Australia New Zealand Cups, Freeride World Tour Qualifying events, FIS Junior World Championships and FIS World Cups.
"While it is with a heavy heart that we share this news, we are immensely proud of what has been achieved over the last 15 years and we are grateful for each and every person who has contributed to the legacy that Winter Games NZ will leave behind," Winter Games NZ Chairman Dr Sam Hazeldine said.
An initiative of the late Sir Eion Edgar, the Winter Games were established in 2009 and have been a significant event in the Southern Lakes region, although earlier editions included Methven, Dunedin, Naseby and other locations.
Held 11 times, the Games have attracted over 600 athletes from more than 40 countries.
They provided New Zealand athletes with a competitive pathway in the sports, while also allowing fans to experience world-class winter sports.
They also generated significant economic benefits across the Lakes district, as well as showcasing New Zealand to the world through global media reach.
Winter Games NZ Chief Executive Marty Toomey said: “While this decision marks the end of an era, the legacy of Winter Games NZ will live on.
"Many New Zealand athletes have achieved notable firsts at Winter Games NZ over the years through securing their first FIS or FWT points, a first FIS World Cup start, a FIS Australia New Zealand Cup bib, a FIS Junior World Championship title, a FIS World Cup medal or earning points towards the next Olympic or Paralympic Winter Games or Freeride World Tour."
Trailblazing New Zealand freeskier Jossi Wells said it was a sad outcome.
"It’s sad to see the end of Winter Games NZ as I knew it, as it was a great event for kiwi athletes to show off their skills in front of a raucous kiwi crowd, their friends and family."
- APL