Plans to create a new Center Parcs' holiday village at Warren Wood in Bedfordshire have been turned down.
The resort firm runs four centres in the UK
The firm, which has four other sites in Nottinghamshire, Suffolk, Wiltshire and Cumbria, wanted to build the village on a site off the A507 near Millbrook.
Mid Beds District Council voted to refuse it on the grounds the complex would be sited on green belt land.
Center Parcs said it was disappointed in what was a "lost opportunity" for the people living in the region.
Opponents of the £160m plan had said it would "destroy an area of great landscape value and natural beauty".
Center Parcs' chief executive Martin Dalby said: "This is a lost opportunity for the people of Mid Bedfordshire and for their future jobs and prosperity.
"The councillors refused our application on the grounds that it did not meet the very special circumstances that allow development in the green belt.
"We are now going away to consider our options, and would welcome feedback from local people to discover whether or not they support their Council's decision."