Pursuit Attractions & Hospitality, Inc.
Pursuit Attractions & Hospitality, Inc. owns and operates a portfolio of travel experiences in iconic destinations across the United States, Canada, Iceland, and Costa Rica. Its business combines sightseeing attractions, lodges, restaurants, retail, and transportation services that are marketed as destination-based collections.
Fiscal year 2025 · change from previous year
Development 2020–2025
Business
Share of revenueTicketed sightseeing experiences and visitor attractions in iconic destinations.
Lodges and hotel-style accommodations serving leisure travelers and tour groups.
On-site dining, cafes, and packaged food and beverage offerings at properties.
Guest merchandise and souvenir sales tied to attractions and lodging sites.
Guest transport and ancillary services that support the travel experience.
Products
Reported · share of revenue- Services75.3 %
- Products24.7 %
Source: 10-K FY2025, revenue the company reports per product line (SEC XBRL). Shares are of the lines shown and add up to 100 %.
Customers
The company serves leisure travelers visiting national parks and other destination markets, including individual guests, families, and tour groups. It also sells to group travel and travel-trade channels that help fill capacity across seasons and geographies. Demand is driven by destination appeal, guest experience quality, and the convenience of bundled on-site services.
Buy attraction tickets and lodging for self-directed vacations and short stays.
Purchase bundled visitation and lodging for organized itineraries and group travel.
Book inventory and packages that help drive international and multi-season demand.
Buy family-oriented stays and experiences at national park and resort locations.
Purchase food, beverage, retail, and transport services during visits.
Strategy
Pursuit’s strategy centers on refreshing, building, and acquiring destination assets that can be integrated into a broader portfolio of travel experiences. It uses digital marketing, direct booking, travel trade, and group channels to drive demand, while cross-selling attractions, lodging, food, retail, and transport to raise guest spend and booking conversion.
Renovated and upgraded assets can support stronger guest demand and pricing.
New experiences broaden the portfolio and create additional destination traffic.
Acquisitions can extend the geographic footprint and add new guest experiences.
Direct and high-intent channels reduce friction and improve control over demand.
Geography
2025Pursuit operates in the United States, Canada, Iceland, and Costa Rica, with properties grouped and marketed by geographic collection. Its business is highly seasonal in many locations, with summer months historically contributing the largest share of activity, while some assets such as Tabacón are expected to spread demand more evenly through the year.
Share of the revenue the company reports by geography.
Risks
The business is exposed to travel demand swings, weather, foreign exchange, and broader economic conditions because guests spend discretionary income on destination travel. It also faces execution risk on capital projects and acquisitions, plus impairment risk tied to goodwill and long-lived assets in a property-based model.
- Seasonality concentrates revenue in peak summer periodsImpact: HighLikelihood: High
A large share of visits occurs in a narrow seasonal window, increasing quarterly volatility.
Exposure: Most attractions and hospitality properties
- Economic slowdown reduces leisure travel spendingImpact: HighLikelihood: Medium
Guests can defer destination trips and trade down when disposable income falls.
Exposure: Attractions and lodges in discretionary travel markets
- Capital project execution riskImpact: HighLikelihood: Medium
New builds, renovations, and repositioning can miss budget or fail to generate expected returns.
Exposure - Impairment of goodwill and long-lived assetsImpact: High
Property-based assets and acquired intangibles depend on future cash flows and occupancy.
Exposure: Flyover attractions and destination properties
- Foreign exchange and international travel exposureImpact: MediumLikelihood: Medium
Operations and guest flows span multiple currencies and cross-border travel markets.
Exposure
Accounting
Judgemental itemsMost activity occurs in summer, so quarterly results are not evenly distributed.
Impact: Affects revenue timing, margins, and year-over-year comparisons
Acquired destination assets must be tested when performance or market conditions change.
Impact: Can create non-cash charges that materially reduce earnings
Property and attraction assets depend on future cash flows and utilization.
Impact: May require write-downs if expected recoverability declines
Lodges and operating locations often involve leased real estate and equipment.
Impact: Affects balance sheet leverage and operating expense presentation
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Last updated: 24/09/2026