Pursuit Attractions and Hospitality, Inc. (formerly Viad Corp) reported a total revenue of $366.5 million for the fiscal year ending December 31, 2024, marking a 4.6% increase from $350.3 million in 2023. The company's attractions segment saw a revenue increase of 9.4% to $208.4 million, driven by a 6.1% rise in visitor numbers and a 3.1% increase in revenue per visitor. However, hospitality revenue slightly decreased by 0.6% to $143.1 million, attributed to a decline in revenue per available room (RevPAR) due to the impact of wildfires in Jasper National Park. The company reported a net income of $373.8 million, significantly up from $23.5 million in the previous year, largely due to a gain from the sale of its GES Business.
The sale of the GES Business to Truelink Capital for $535 million was a pivotal event for Pursuit, completed on December 31, 2024. This strategic move allowed the company to refocus on its core attractions and hospitality operations, leading to a rebranding as Pursuit Attractions and Hospitality, Inc. The transaction was classified as a discontinued operation, and the financial results of the GES Business have been excluded from the current year’s operations. Following the sale, Pursuit began trading under the new ticker symbol "PRSU" on January 2, 2025.
Operationally, Pursuit reported approximately 3.76 million visitors across its attractions in 2024, with notable contributions from the newly opened Flyover Chicago, which generated $8.5 million in its first year. The company also expanded its portfolio by acquiring the Jasper SkyTram for approximately $16.5 million, enhancing its offerings in Jasper National Park. Despite challenges such as the Jasper wildfires, which temporarily affected operations, the company managed to maintain a strong presence in its key markets, including Canada and Iceland.
Looking ahead, Pursuit plans to invest between $70 million and $75 million in capital expenditures over the next year, focusing on growth initiatives aligned with its "Refresh, Build, Buy" strategy. The company aims to leverage the proceeds from the GES sale to fund these investments and enhance its operational capabilities. With a current employee headcount of approximately 1,500, excluding seasonal staff, Pursuit is positioned to capitalize on the recovery of the travel and tourism sectors as global conditions improve.
About Pursuit Attractions & Hospitality, Inc.
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