SAM Magazine-Choteau, Mont., July 30, 2010-Teton Pass Ski Resort has been purchased by kiwi Nick Wood, who, along with two investors, plan to spend $3 million over the next two years to transform the area into a regional destination. Sale price was reported to be around $300,000.

Wood, a skier who has been in the high tech and hotel businesses, plans to expand the lift capacity, upgrade all buildings, and expand the lift-served terrain, creating a resort with 1,700 vertical feet. The initial plan is to add two Poma lifts that will open up 250 additional acres of skiing and 400 vertical feet before the coming ski season, creating runs up to 1,400 vertical feet.

Wood is not wasting any time. Since buying the area yesterday, he has updated the Teton Pass website with lift ticket, lesson, and other prices. Lift ticket deals range from $29 a day for adult day tickets to a five-year season's pass for $1,299 that comes with special perks. A single year's pass is $299.