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.

92,3 %

5,0 %

+23,4 %

0.81

0.65

— Pursuit Attractions & Hospitality, Inc.
%
Attractions45% Ticketed sightseeing experiences and visitor attractions in iconic destinations.
Hospitality35% Lodges and hotel-style accommodations serving leisure travelers and tour groups.
Food & Beverage10% On-site dining, cafes, and packaged food and beverage offerings at properties.
Retail5% Guest merchandise and souvenir sales tied to attractions and lodging sites.
Transportation and Other5% Guest transport and ancillary services that support the travel experience.

The company serves leisure travelers visiting national parks and other destination markets, including individual...

  • Individual leisure travelersprimary

    Buy attraction tickets and lodging for self-directed vacations and short stays.

  • Tour groupsprimary

    Purchase bundled visitation and lodging for organized itineraries and group travel.

  • Travel trade partnerssecondary

    Book inventory and packages that help drive international and multi-season demand.

  • Families and destination vacationerssecondary

    Buy family-oriented stays and experiences at national park and resort locations.

  • Ancillary spend guestssecondary

    Purchase food, beverage, retail, and transport services during visits.

Pursuit operates in the United States, Canada, Iceland, and Costa Rica, with properties grouped and marketed by...

  • •Operations span the United States, Canada, Iceland, and Costa Rica
  • •Properties are marketed as regional collections tied to destination travel
  • •Summer seasonality is important for many attractions and lodges
  • •International guest mix adds exposure to currency and travel trends
  • •Destination geography is central to pricing, occupancy, and demand

Pursuit’s strategy centers on refreshing, building, and acquiring destination assets that can be integrated into a...

01
Refresh and reposition existing propertiesmedium-term

Renovated and upgraded assets can support stronger guest demand and pricing.

02
Expand through new attractions and lodgesmedium-term

New experiences broaden the portfolio and create additional destination traffic.

03
Acquire and integrate complementary businessesmedium-term

Acquisitions can extend the geographic footprint and add new guest experiences.

04
Improve direct demand generation and booking conversionshort-term

Direct and high-intent channels reduce friction and improve control over demand.

The business is exposed to travel demand swings, weather, foreign exchange, and broader economic conditions because...

high

Economic slowdown reduces leisure travel spending

Guests can defer destination trips and trade down when disposable income falls.

Scope
Attractions and lodges in discretionary travel markets
Materiality
high
high

Seasonality concentrates revenue in peak summer periods

A large share of visits occurs in a narrow seasonal window, increasing quarterly volatility.

Scope
Most attractions and hospitality properties
Materiality
high
high

Capital project execution risk

New builds, renovations, and repositioning can miss budget or fail to generate expected returns.

Scope
Refresh, Build, Buy initiatives
Materiality
high
high

Impairment of goodwill and long-lived assets

Property-based assets and acquired intangibles depend on future cash flows and occupancy.

Scope
Flyover attractions and destination properties
Materiality
high
medium

Foreign exchange and international travel exposure

Operations and guest flows span multiple currencies and cross-border travel markets.

Scope
Canada, Iceland, Costa Rica
Materiality
medium
Seasonality and quarterly revenue concentration
Affects revenue timing, margins, and year-over-year comparisons
Goodwill and indefinite-lived intangible impairment
Can create non-cash charges that materially reduce earnings
Long-lived asset impairment
May require write-downs if expected recoverability declines
Lease accounting
Affects balance sheet leverage and operating expense presentation

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: 29/04/2026