How are the lift tickets attached to the jackets nowadays at Hotham. It's been 7 years since I've been to Hotham. I vaguely remember the old steel wire thing that you stuck the ticket to. Have they gone to plastic ties yet?
If it is anything like Mt Buller, the tear off strip at the bottom only serves to benefit the mountain's ticket sales. If you lose the ticket, the tear off can only be used to cancel the ticket (thus preventing someone riding for free on a found ticket - aka forcing an additional lift ticket sale). it cannot be used to have a reissued ticket. (you'd still have to buy a replacement too)