Falls Creek is a popular skiing destination for both downhill and X-country enthusiasts. For hiking (or snow shoeing in winter) an adventure not for the faint at heart can be had, by using the trails that run from Mt Beauty village, up the murderously steep Mt Bogong staircase, down the opposite side, through the icy river, up again to Falls Creek alpine plateau, and all the way across to Mt Feathertop and Mt Hotham - a journey of several long days even in good weather.

One highlight of the Falls Creek area and accessible by car in summer is Wallace's Hut (pictured left). It is the oldest still standing alpine hut in the Alpine National Park. Accessibility drops in winter requiring a snowshoe or X-country ski trip, though the distance isn't that far from Falls Creek Village.

Twisted snow gums shadow the hut surrounding it with a mythical quality and enhance it's historic appeal. The interior of the hut doesn't lend itself to a means of accommodation even for weary hikers, but the locale is a poplar campsite for the tent bound and sports toilets and a nearby fresh water stream.