Pursuit Attractions & Hospitality Reports 37.4% Revenue Growth in Q1 2026

Pursuit Attractions & Hospitality, Inc. reported a significant increase in financial performance for the first quarter of 2026, with total revenue reaching $51.6 million, a 37.4% increase from $37.6 million in the same period of 2025. The growth was driven by a 19.8% rise in attractions revenue, totaling $28.7 million, and a substantial 78.5% increase in hospitality revenue, which amounted to $20 million. The company also reported a net loss of $24.7 million, an improvement from the $31.4 million loss recorded in the prior year, resulting in a basic loss per share of $0.90 compared to $1.11.

The company’s financial position showed notable changes, with total assets increasing to $1 billion as of March 31, 2026, up from $965.4 million at the end of 2025. Current assets surged to $205.4 million, primarily due to the classification of $122.8 million in current assets held for sale related to the planned sale of its Flyover attractions to Brogent Technologies for approximately $78.4 million. This transaction is expected to close in May 2026, subject to regulatory approvals. Additionally, Pursuit completed the acquisition of Tabacón Thermal Resort & Spa in July 2025, which contributed significantly to the hospitality revenue.

Operationally, Pursuit reported a 5% increase in visitor numbers across its attractions, with a total of 482,000 visitors in the first quarter. The average revenue per visitor also improved by 14.2%, reflecting enhanced guest experiences and pricing strategies. The company’s hospitality segment saw a rise in revenue per available room (RevPAR) to $117.93, a 75.3% increase, driven by higher average daily rates and occupancy rates. The total employee headcount remained stable, supporting the operational demands of the growing business.

The filing indicated that the increase in costs and expenses was primarily due to higher variable costs associated with increased transaction volumes, including a $3.2 million rise in labor expenses. Interest expenses also rose significantly, reflecting the company's increased borrowing to support its growth initiatives. The effective tax rate for the quarter was reported at 4.7%, down from 5.6% in the previous year, influenced by improved performance in the U.S. and the inclusion of Tabacón's results.

Looking ahead, Pursuit anticipates continued growth driven by its strategic acquisitions and operational enhancements. The company plans to invest between $103 million and $114 million in capital expenditures for 2026, focusing on growth projects and maintaining liquidity. The management remains optimistic about leveraging its expanded portfolio to enhance customer experiences and drive revenue growth across its attractions and hospitality segments.