NZ investor plans to upgrade US ski resort

An Auckland-based entrepreneur who first used a loan from his father to develop a major internet network now plans to spend millions of dollars on a United States ski resort.

Rich Lister Nick Wood, of Silverdale, has paid just under $US300,000 for the Teton Pass Ski Resort, west of Choteau, in Montana, and said he would spend over $NZ4 million during the next two years to improve the ski area. The resort is about 160km north of the state capital, Helena.

Mr Wood said he plans to build two new skilifts to add over 100 hectares of extra skiing and an additional 121m of altitude for the skifield, the Missoulian newspaper reported.

The New Zealander -- who with his brother Tim founded Ihug and sold it for $80 million in 2003 -- told the newspaper he also planned to repair existing lifts and renovate all the buildings.

Mr Wood has previously invested heavily in luxury overseas holiday accommodation, initially through his Octopus resort in Fiji, then through his California-based company Distinctive Holiday Homes (DHH), which owns luxury homes in Australia, New Zealand, the US, France and Italy and two yachts in the Mediterranean.


Got a question about this story? Leave it in Comments & Questions below.

This article is tagged with the following keywords. Find out more about MyNBR Tags

Comments & Questions

Commenter icon key: Subscriber Verified

Post New comment or question

Plain text

  • No HTML tags allowed.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.

NZ Market Snapshot

Forex

Sym Price Change
USD 0.7333 0.0000 0.00%
AUD 0.9160 0.0013 0.14%
EUR 0.6176 -0.0001 -0.02%
GBP 0.5439 0.0002 0.04%
HKD 5.7225 0.0036 0.06%
JPY 82.4590 -0.0760 -0.09%

Commods

Commodity Price Change Time
Gold Index 1301.0 -9.900 2017-09-20T00:
Oil Brent 56.3 1.090 2017-09-20T00:
Oil Nymex 50.7 1.150 2017-09-20T00:
Silver Index 17.3 0.055 2017-09-20T00:

Indices

Symbol Open High Last %
NZX 50 7851.1 7851.1 7819.2 -0.42%
NASDAQ 6459.7 6466.1 6461.3 -0.08%
DAX 12550.9 12593.2 12561.8 0.06%
DJI 22351.4 22413.3 22370.8 0.19%
FTSE 7275.2 7289.9 7275.2 -0.05%
HKSE 28091.2 28184.4 28127.8 0.10%
NI225 20456.5 20481.3 20310.5 0.45%
ASX 5709.1 5709.1 5709.1 -0.88%