Distinctive Holiday Homes Executive Nick Wood Purchases Ski Resort

By: Destination Club News
Date: August 3, 2010

Auckland-based entrepreneur Nick Wood, known for creating the major internet network Ihug and founding the destination club Distinctive Holiday Homes, has purchased the Teton Pass Ski Resort in Montana. West of Choteau, Wood has paid just under $300,000 but has said that he intends to spend over $3 million during the next two years improving the ski area.

Last year, the ski area sat closed, but the native New Zealander Wood has big plans for the scheduled opening in just four short months. According to Wood, the resort will feature some new runs, some new lifts, a complete renovation of the lodge building, new equipment for the rental shop and several other new additions.

Looking at both Oregon and California, Wood chose Teton Pass Ski Resort because it "had the best mountain, with the most vertical feet" and "really friendly local people." These friendly locals are eager to have the proven entrepreneur's leadership after seeing a dip in sales with the resort vacant last season. In 1994, Nick and brother Tim created Ihug, turning it into New Zealand's largest internet service provider. Following the sale of Ihug, Wood would go on to purchase the highly acclaimed Octopus Resort in Fiji, turning it into a profitable venture, and soon thereafter, Wood created Distinctive Holiday Homes.

With Wood at the helm, Distinctive Holiday Homes became one of the most internationally dedicated destination clubs in operation, giving members vacation options in Fiji, Lake Tahoe, Italy, France, and even an 86' motor yacht in the Mediterranean.

As many of their competitors began to file for bankruptcy and close amid the economic crisis, Distinctive Holiday Homes would begin to make changes to their club in an attempt to battle the macroeconomic environment, including a transition to become an invitation only club and instituting price reductions and upgrade promotions to new members. Despite the changes, the club's resignation list continued to swell to the point that 20% of the small number of club members were looking to exit, triggering a wind down scenario outlined in the club documents.

Wood would state that Distinctive Holiday Homes would look at different ways to refund these members and subsequently void the wind down trigger, but since then, no information has emerged from the club outside of the closure of some club residences.

"In this particular economic climate there will be a few people caught with the tide out and no swimming trunks on," Wood told us in an interview in 2008. With the fate of Distinctive Holiday Homes still hanging in the balance, let's hope that Nick isn't the one left without his trunks.