VVI - Earnings call transcript Q2 2018 | Pursuit Attractions and Hospitality, Inc.

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Operator

Welcome to the Viad Corp Second Quarter Earnings Conference Call. At this time, all participants are in a listen only mode. [Operator Instructions] This call is being recorded.

If you have any objections, you may disconnect at this point.

Now I will turn the meeting over to your host, Ms. Long. Carrie begin. may you Ma'am,

Carrie Long

afternoon and XXXX us Viad's for thank quarter earnings you second joining conference for Good call.

Certain our During the and Financial call, with Ingersoll, and President not be factors forward-looking differ historical Moster, filed Steve during facts Officer. which Chief may are that business call, in you'll CEO; hear the SEC. found and from those statements this made statements. constitute our quarterly from our the forward-looking cause and actual concerning Information can could other risk statements in annual materially results to reports Ellen

Iceland impairment to reconciliations including Additionally, the income www.viad.com. be our or to well available which we'll operating segment these related transaction Important be the non-GAAP costs Viad, to recoveries, Steve. referring call items, and loss in is EBITDA, certain net or costs. or loss. earnings including acquisition before adjusted table charges FlyOver regarding can other will integration call, attributable turn two and that, of and income These I to segment release, found during as disclosures measures, measures over start-up adjusted measures press With income on restructuring exclude

Steve Moster

are better-than-expected income million management, of the Overall, against bookings with solid call. other revenue execution cost the executed for a well, deeply we the strategic that continued is attendee We enhanced team goals provide I'm to per services income Through came of experience. work Overall, engaged GES's One teams Carrie, margins of strategic range, delivered we solutions has same-show team strong marketing repeat coming towards and we progress and built. prior first At the expectations. on With guidance such our an our Society Meeting with Radiation reflecting strength of competitive annual Thanks, to and started participants enhance goals. for making quarter partnerships in of set and strengthen the roadmap offerings, have Oncology. XXXX XXXX, meeting in and to the $X.XX enhance in strategic in and drive joining we providing with before adjusted American event in is us example consulting results of marketplace. short-term and items our delivered the thanks to at meeting GES, clients on X.X%. today's our bolstering high-end operating of engagement In progress and pleased drive $XX.X with three-year another The recent share are above our increase attendance. continue the the with our position Annual segment GES our our experience the growth.

our expanding this successful scope work, in of through to addition renewing we In XXXX. contract were

$X.X space. in company, corporate produce and gain large to quarter continue margin recently XXXX. in a the our relationship with corporate We the will events traction third two its of event also We expanded higher billion leading technology of

we lighting leadership of event. Horizons' supporting for will exhibit technology sessions and five with one is services Horizons of U.S. and a and provider the This quarter, stage education won Bright U.K. corporate we design, event audio-video, Family for a an area Bright for events This Additionally, leading along services year. this breakout business Bright provided of and series Horizons past we preschool early Solutions, that throughout the produce

Convention we our Center. were audio-visual capabilities, in us share positions expanding We additional to San to announced segment. services with through that year, Earlier believe capture corporate the under-penetrated that audio-visual a our venue-based this we production well continue the production investments new in event contract Diego

services, provider preferred rating provider [ph] Services] services. of took and as the audio-visual production the the During over [On second quarter, of exclusive

enables popular growing Brewery, our the West U.K. important delivered to to events forward of audio-visual and at as provides services. specifically, in future. position from the place in-house to where we for also at it's of report is them space. with that we in the exclusive More corporate to that to only number important I'm Coast nice recently into selected venue event corporate win the various with and list additional leverage the the We services stream grow it be we the future. U.S. revenue a which the this visibility were us strategically in business not in in that at of relationships have the our establish look This successfully at happy the supplier provide a a seek venue but us event event Central the London. in-house also in to taking venues Holding us itself, organizers events provides venue new we adds can the growing venue to

and Aires event growth our lot margin to we traction past quarter, industry. high the for and Another contract Buenos provide solution Youth later smart continue where to segment, technology Games won area this at year. interest Olympic engagement garner a is GES within a the solutions in technology This of products the

a technology for Our we products; of create games. the the two the opportunities will at AEO prestigious at provide richer coveted networking technology honored award approach unique team the awards a of innovation our and will use interactions were year Recently, award. and among smart attendees Awards, the engagement gamification experience through best the that with

is events. full-service event work making the competitive which practices. differentiate that sustainability in proud achievements We and live also is services Overall, position, business received as recognizes helping to our I'm new GES providing a audiovisual ongoing and growth. avenues of hard of sustainable team team the GES technology of identifying to preferred new addition to strengthening good these position opportunities. dedication our and of very validate commitment and The our award relationships global marketplace of existing provider progress, expanding our the

due growth favorable exchange of results X.X%. Now to revenue anticipated. Pursuit. range Pursuit, This At than with healthy let our below me less impact switch little gears delivered had second was previously a team a rate to prior guidance we our quarter

passenger some our counts. attractions inclement of weather that addition, quarter during affected hampered In by were the

environment well our the and to demand guidance. operating was segment income that changing responded line adjusted prior team Our with in delivered

Excluding properties. rate and X% Pursuit's attractions the impact most grew across hospitality second quarter of revenue our reflecting year-over-year, variances, of exchange growth

same-store were Although volumes due conditions, X% were down per slightly respectively. growth passenger X.X% to strong and revenue weather which same-store and in delivered RevPAR, we passenger up

refresh Hotel expect this feedback the an in and of our food on Canyon experience with guest and Maligne reopened food upgrading retail. new guest was happy and enabling favorite sales, upgrades refresh strong Mount and recognized revenue in we this project has the on demand. contribution that asset top spend is at making are great a rooms, across in Early property reviews strong the with favorable is expect categories: for strategy its The downtown I'm focus upgraded to retail Later combined to enhanced connection and capture ticket as major us our a area. Our beverage, guest per we beginning Lake higher the Sky and from Maligne going to another guest revenue reconstruction extremely which management all Banff. Bistro a one forward. Royal of beverage also schedule The renovated consistently Banff report been we that Gondola seeing continues the XXXX. and to receive in begin year, is operations and restaurants we're recently completed

Both to build Reykjavik. strategy, to Iceland with the FlyOver expansion the RV construction On Glacier Park to are well during new Park for XXXX. progress additional our both we FlyOver evaluate our of locations side of continue in attraction the concept. the schedule open growth continued and National new And the in things area on

On side, this acquisitions tuck-in buy we two completed the have now year.

quarter. I just a Shop, recently, adjacent Restaurant six-acre we closed Windsong and Lodge of to first in last our The Maligne And the discussed was parcel Canyon Alaska. Seward land Gift which on

year. additional begin rooms We that on this expect to parcel later XX construction of

acquisition as the And meaningful Pursuit seek solid continue yield remain on and to Buy revenue we management provide about more Ellen. our results business. scale Overall, and I'll Our now initiatives excited the over remains our to color opportunities it Build, strong Ellen ahead us. to of strategy the to turn little we Refresh, a to financials. pipeline add

Ellen Ingersoll

Steve. Thanks,

results than of $X.XX GES driven as stronger that Yes, prior added well mentioned share our earnings at prior guidance. income tax as our a that about guidance. primarily Steve relative quarter for by stronger our second our the were to earlier, operating per rate XXXX is As lower to

decreased by decreased quarter, of $XX.X XXXX. and share a by second our slightly adjusted million. of Consolidated on at result negative adjusted million before declined the segment and million. per of results operating million our $X segment million, operating For as items $XX.X revenue revenue second quarter EBITDA $X.XX segment income results $XXX.X adjusted was of share adjusted Primarily, GES, EBITDA from decreased segment income by million, $X.X $X.X other rotation

Moving quarter onto of adjusted adjusted $XX.X income results; $XXX.X of segment EBITDA million. the operating and business of $XX.X revenue segment million second posted group GES million

as the organic share to revenue business XXXX by by revenue or the $X.X revenue million organic negative continued mostly rate U.S. decline million was $X new million. share $XXX,XXX rotation by down X.X% was exchange On excludes which $X.X second of the impact quarter, basis, million. compared or an X.X%, variances, As favorable was rotation same-show about slightly wire. a driven was about growth $XX decreased of and segment of offset negative which

X.X% XX.X% of year-over-year. during the had U.S. two that same-show impacted outlier grew based represented Our significantly We U.S. this quarter by revenue, events revenue symmetric. which

$X.X revenue $XX offset EBITDA adjusted wins. negative large by and $X.X outlier by strong share adjusted income adjusted an operating GES' spend million adjusted a from $X.X significantly million of$XX.X same-show The we was million $X.X GES' the second And approximately decreased discretionary rotation segment quarter. a an of events, growth million respectively,primarily organic the additional the metric segment experienced these exhibitors lower XXXX and X.X% revenue growth by international respectively basis, quarter. year-over-year food the revenue. for million EBITDA and we declines both $XX.X those to first from due If revenue business $X.X experienced million retrospective million. segment operating organizer million and lower Organic posted income where new event from or segment XXXX decreased segment fest adjusted Pursuit for million that driven to were occurrence. the two On was exhibitor primarily of$XX exclude XX.X% and to large event partially quarter second adverse spend. of

XXXX The revenue in assets. the which per excludes second was mainly variances we passenger quarter. Pursuit's and year. by our was up continued personnel increased, Through segment EBITDA offset revenue X% strategic our flat versus As and operating compared prior our the by or support results by attractions driven increased to initiatives essentially X%, the additional adjusted to higher million revenue These same-store hospitality increase X.X% rate $X.X the by across from adjusted was exchange RevPAR revenue some partially same-store while $X.X efforts, segment $XXX,XXX a quarter, Pursuit. quarter realized XXXX management million. reflect growth for favorable income during revenue grew organic cost continued

totaled consolidated $XX.X due and insurance working Hotel Viad's expenditures the the we'll quarter, we to operations $X Now second at is some proceeds Mount to discussing before the primarily cover funded cash million the primarily quarter from from million received investments items in million our due approximately in $XX.X guidance. flow in flow in balance Royal versus XXXX to for XXXX XXXX. rebuilding by from million of cash Pursuit the changes quarter $XX capital. XXXX Capital sheet being million primarily $XX.X which to related XXXX including up increased

full-year buy repurchased compelling little XXXX, At was to revised relatively $XX.X months, Canadian recent Over share per a $XX.XX for a stock we investment effective remains while had XXX,XXX our now evaluations. $XXX.X expectations continue our $X.X moving over versus XX.X%. attractive average investments rate. business exception million At exchange U.S. grow XX, our opportunities And dollar. Viad's at continued to for that increase cash of tax debt the evaluate and with ratio this future share of first and our cash we our our stock the price devalued unchanged to our capital. our totaled was to and we British guidance; million, will rates a quarter available outlook was debt onto June priority we and an will the of capital flows, cash believe of get to and about pound equivalents dollar our During also million. And back the

Our and new Previously, and $X.XX per been per $X.XX exchange rate has assumed British we pound. guidance Canadian of an $X.XX dollar $X.XX respectively.

by reduced is Pursuit's have grow rate of single-digit guidance revenue for guidance a versus rate our result at Pursuit's prior $X expect XXXX, segment a results versus that low range As EBITDA we million. and double-digit And to translating this outlook our a high now at will Canadian high-single growth. adjusted lower we

revenue reduced GES been British has weaker the also Our to outlook pound. for growth largely due relatively

to discussed we quarter to determined to incur expected additional will reform bottom be to generated. offset and EBITDA line, tax However, guidance the tax we've outlook. tax as rate offset provisions range revised reform. the related favorable be of by not impact we for Last that that foreign on new fully tax interpretation additional tax holding the of rules, expected additional Based partially rate is GILTI due credits prior of by At the exchange we're research our impact tax GILTI the the GES rate more is this outlook a material. exchange

our about are of full-year our a outlook this reduced now stronger this have digits growth out expect XX% be GES our we a XX% XX%. expecting for at of point this to by prior And quarter experience. pipeline year-to-date that result, a mid we best about sales to guided is fourth we time. same-show for to And effective revenue Previously opportunities. will low I'll versus also rate our tax low growth. As estimate currently based single-digit we on guidance overcome single

cash our operating outlook flow unchanged remains Our from for prior CapEx and guidance.

primarily This the to and We from guidance flow to to Hotel, being expenditures approximately property the And attraction. million Mount Iceland includes million the FlyOver expect complete to proceeds the our in primarily FlyOver $XXX related cash are funded million range to $XX continue are the renovation capital expenditures million FlyOver project. The Hotel million, Royal $XX approximately to of of XXXX million. for our of the range CapEx received $XX with by the capital and development restoration of $XX full-year of during Iceland in insurance being funded expenditures Mount we Iceland $XXX the Royal operations out contribution be XXXX.

$X.XX For per $X.XX growth to as quarter. compared expect income at and both the quarter, third GES we $X.XX expected of increase to the XXXX reflects share An in Pursuit.

million third $XX primarily about $XX GES' to million to result new and expect same-share XXXX quarter third quarter contract as million by the expected And to business income year-over-year increase $X.X adjusted million, increase. the we our revenue nonrecurring to quarter $X.X GES, operating growth, income to share on by about revenue driven a by $XX increase of quarter versus million million that included income, strong throughput primarily revenue. from about wins. adjusted of adjusting third higher of settlement. results revenue reflecting is as quarter just a to increase continued the rotation For a reminder, segment $X.X in expected $XX.X operating XXXX positive XXXX $X.X million million, When segment is income to related exclude GES'

and to $XX have and about revenue driven our continued we attractions investments about $X focus management to million collection by third expected and made expect enhance to million on higher by the XXXX driven $X quarter, million to largely primarily of to segment quarter increase revenue we our from $X.X Pursuit's hotels. operating Pursuit, adjusted income by increase third quarter million grow revenue. For by the is

And you. found in Additional can be the earnings back release. to Steve, XXXX press guidance

Steve Moster

over pleased results pace Pursuit date. effort our proud strong this to with excited strategic deliver the the and I'm Both about closing, and our Thanks, strategy, I'm continued In to performance GES guests, the ahead also opportunities lie customers to of in company. relentlessly shareholder I'm our entire year. are and for I'm our to the long-term. great team on while and Ellen. Viad confident that service performance solid financial of value our to goals drive pursuing deliver

for that, please with the Now call? open can call let's open you Operator, up questions. the

Operator

Thank you.

Research. is session. now of [ph] comes line [Vital Our will question-and-answer line now the your open. We Khanna] question Instructions] of begin Northcoast the [Operator first from Sir,

Unidentified Analyst

my I GES audio-visual, services. two if segment and regarding the Hello. first services, between in taking My the wondering core Hi, breakdown technology, was segments you the question is seeing growth to of compared question. you're for the the event core thank revenue and

Steve Moster

the growing So, services. an on I to higher I a we and continue new services over core those don't the new put in since think And margin do specifically services see focus breakdowns think some if of are services, core you we of of couple our a online services look our which than ours our again, at last the we've the emphasis broken new quarters it it's out but brought for we years. growth.

Unidentified Analyst

you the was visitors? see, of guys by because weather year release, the press to saw compared I compared conditioning. numbers that is the I decrease the total a of is -- decrease of And at said taking in only I know the to look Pursuit great. it Well, and on Okay, you number based a X.X% last

Ellen Ingersoll

passengers. In

Steve Moster

in passenger of Yes, volume terms that is correct. the

all You capture we revenue little our lower were significantly per higher a the than are passenger the do revenue we across But impact why able is to which did bit guidance weather prior volumes, streams. see range. where

Unidentified Analyst

Okay.

Steve Moster

at raining interest And be season boat on Sometimes diminishes. weather gondola snowing a beginning sometimes a of ride touchy. a or the in can going when the on the it's to or a little

Unidentified Analyst

Okay, you great. much. Thank so

Steve Moster

you. Thank

Operator

Rodriguez Our open. next comes of Sir, your Stonegate is question from Capital Marco line the of line now Markets.

Marco Rodriguez

Thank guys. for you afternoon, questions. taking my Good

Steve Moster

problem. No

Marco Rodriguez

all X.X% is growth back rates. in end. wondering lower we same-show I what GES which was rate was catch able explanation circle wasn't QX could of the the the to here growth on on I if and the for

think issues about that two something heard shows I some there. I had

Steve Moster

shows, quarter was lower The we'd had a well. one expected, which that consistent significantly the for what that was again one was quarter couple as higher lower was seen that the we to There and than space, really so we had expected. tied in same-show was the retail than X.X%. with is growth Yes, one what first our were

those closer the So to one kind out of outliers, goes X.X%, the and lot mix terms of both the a which to of about single-digit. expectations average two we negative then then what in mid took that positive and our are is

Marco Rodriguez

Got are guys same-show remarks QX versus of base was of QX fiscal the that changes Was for just guidance, as in guidance came down 'XX the mentioned the in it what specific in number? before. you. QX you some and well? Or show, the then And because terms this you expecting prepared

Steve Moster

year-to-date Plus, some of the in do far. again so retail it's see Well, those the we second-half of events year.

so And we've seen retail of we that it XX% event. this what in what our event quarter. The an it's in combined for strong and a the about those impact retail in from quarter -- already the a the same happens rest larger portfolio keep a couple we the represents growth thing as to did expect not revenue event of meaning And see is mind geography. same necessarily same doesn't year the in each show, from it's that qualify of of that

or rest performed the it's that expected. just we deem a those as well, rest of wider portfolio So the business little we events the of growth the same-show than were

Marco Rodriguez

Got you.

base that light you the retail correct? if rate for space to some lower of the 'XX. that's going so of from show Is second-half headwinds, kind Okay, the growth will,

Steve Moster

Correct. That's correct.

Marco Rodriguez

what talk Can the If you a of on is do opportunities, valuations got bit look kind side? like? maybe it Okay, And pipeline acquisitions increasing, it GES maybe you. decreasing? to about the little you the can potential talk more is

Steve Moster

We focus few areas. continue on our to a keep

quarters. of a from the still from interested valuation good opportunities organic lot audio-visual a well seeing words, From we also that as perspective So couple as we're event pursuing. that creative And have M&A a perspective movement there. fairly other services. out perspective, not an be pipeline an we're and it's In technologies seen last something assets of priced over we'll we've in

of But changes them our some any of fit significant valuation. goals. Some seen don't strategically, in them haven't with we

Marco Rodriguez

moment? some because pipeline quo of to closer fruition status attractive is maybe your would the becoming the as I guess just And maybe characterize it at valuations or you. is, is of not Got you kind

Steve Moster

good say What as pipeline that, I acquisition have said would before, I've a of opportunities. is we

evaluate and goals around pursue with more We strategic their continue our to what them to fit we'll continue that. are,

Marco Rodriguez

or Fair enough. And the Royal Pursuit, Mount to then shifting opening gears reopening. here

will, are it? things or pretty ahead Would like of them you if there. well Sounds expectations as just tracking being in terms schedule, matching your characterize kind of you of

Steve Moster

very chance incredibly a the off, it to excited the had And what visit of to a a ago it First weeks was team there. reopen accomplish actually before it's we're of facility, proud phenomenal I hotel. able couple we're opened. to and

In uptick which renovation. what very a what we've terms about of pre optimistic we're far, steep was We're RevPAR, booking we've and XXXX, the seen. to so strong a RevPAR seen pace the specifically pre seeing It's compared very the garnering versus renovation. in

It's we're still the -- roughly of bullish we're balance year this, So the we into opportunities are on happy performance. for opened Xst. we for only a with about But Royal. July month the Mount

Marco Rodriguez

last question, Got jump And back queue. you. in quick the I'll

side, maybe Iceland as the 'XX On quarter guys? more terms or the you second-half of a to first-half, color are for and revenues the FlyOver that generate you as those Can in little bit start far RV I a when Pursuit events. park, provide they fiscal know

Steve Moster

aligns be quarter. Glacier, of a the first Park visitation at that will specifically West Really and least of towards second XXXX, with second-half quarter Glacier closed or the lot of during the well the National very which patterns, most obviously

we again, visitation of be on year plan to opening them for the really pattern. second-half the with the up So stride in

Marco Rodriguez

your appreciate it. guys. time, I Thanks a Got lot.

Steve Moster

you. thank Yes,

Operator

the question Sir, of now Our next Artko comes line of Peter is Rabover your from line Capital. open.

Peter Rabover

guys. Hey

or two a whether slowdown note? guys any got are seeing but it kind or anything I I landscape? few today. One the your on every year ahead? of what's visibility of on still you GES side, And Is ask the questions a about economic Sorry, year,

Steve Moster

are revenue a about-a-year long-term Yes, so three dollars in place. contracts contracts have have Roughly of worth we, we again, Peter, there contracted forward. billion is we going

overall will in kind the into And reflect economy. of lot of what years pretty So global times visibility we we have ahead. good happens a

in economy, we're that specifically the forward. happens And U.S. going so, seen strength encouraged what of about we've some the given

Peter Rabover

comment then win a what And release, the thanks. Great, you press has I'll those. cetera. you little couple and follow-up pipeline, corporate in bit earlier what's mentioned wins more about et maybe And your a those maybe of corporate helped that on on your and maybe

Steve Moster

picked Sure. recently. about we of We're that really up excited some the clients

we call, that about of that's Bright of and are I Peter, Horizons clients. During this the and some together. doing services clients of for what of marrying the our we're events job unique mentioned work as a is that I've excited really of classic services core a about a year. and well great number our done seen integration me them the we've provide core together makes services some This really recently for audio-visual of different And both solution on a as some where new where to

lines. as the clients in And on our feel corporate provider good going one our positioning about provide So about that I across or of we with one corporate forward the multiple of outlook events. terms I It's have good work feel service single strategic imperatives.

Peter Rabover

the And I kind of… usual won assume competitors that you on your just or those up that or is against ones were -- you were

Steve Moster

landscape slightly in In is set a some we we is different. agencies competitors segment for a are the other the Peter, There mentioned, its are new there are, new market exhibition other And going suppliers; for market. are us. larger relatively cases against cases competitive of one than this some as are we in that us, competitors.

corporate exhibition space. the that the competitors in the event against of so unlike we're whole competing set piece, a -- there's And

Peter Rabover

but taken of changed thanks the acquisition kind multiples the have on a And Okay, haven't all? space/competitive maybe acquisition had know you at And up, big, you get not I prices the space, you color. out. comp your that guess, competitor -- that that said strategy seen them on go has I

Steve Moster

you to? acquisition Which referring are

Peter Rabover

PSAW…

Steve Moster

hasn't our accomplish. staging of for PSAV, our yes, say to the it PSAV in for or of seeing industry a of is focused venue we're necessarily work doesn't in tying it growth sector, which but And business, of side. change that the strategy What what on changed is in kind our is the us opportunities or for part would is more the I us. services, marketplace AV primarily we're terms what landscape on

team acquisition, and changed what necessarily to PSAV doing. the are congratulations for their we it So Mike but hasn't

Peter Rabover

then I a the great. and thought FlyOver I which had FlyOver guess was America phenomenal. ride do and bigger the I as Okay, I North just to Canada question. had opportunity go And to well, America

So with I of that. a questions bunch had

they Who you guys owns a pretty get more Canada? do seemed ride And paid like pretty FlyOver rights importantly, -- to that Now, economics. when that? do the with why good then good

So there Park. FlyOver Los with Angeles pretty FlyOver isn't really FlyOver of reviews. York New these, or I'm like why good just whatever fun curious more rides National or pretty Seems a good business,

So expand on that possibly.

Steve Moster

you I like way the think, Peter.

as there's where are XXXX. Canada, the And platform for model businesses. potential and Iceland online we we film. but believe So so is coming are that looking this. actively own can for us, to we a FlyOver property intellectual we're of in And prior similar the we do something locations calls, I've on the mentioned only they good That's growth why new excited FlyOver not about,

But FlyOver the like concept. have concept And we advantage bringing the the we can So multiple locations. stay for. we tuned think it's like We have business. to something first-mover that to you'll a

Peter Rabover

the then once location, get right, going almost Right. utilization you or And keep two can you high? four of kind films pretty in or to of these show three these every

Steve Moster

or trips the for explore Iceland wonderful I Iceland in allow to landscape the Correct. and location local order mean is market bring, to to of see example, school what it's to FlyOver down opportunity our Vancouver the to film Iceland about. a all

think multiple will a be around that yes, have. property able we to fantastic network, barrier we a locations, the we the of build build films really a that So move really out and will that that business network think around -- and intellectual we we

Peter Rabover

FlyOver being on America? Okay. And the shown guys then, paid get Canada you in

Steve Moster

the rights film. FlyOver owned Canada to we the Yes,

And so, other fee. do used when we locations licensing in it's receive a

Peter Rabover

Okay, sounds your time. it. great. Thank you I so much appreciate for

Steve Moster

Thanks, Peter.

Operator

from Sir, open. and Sidoti is next line question now O'Hara your of the line of Our Company. Steve comes

Unidentified Analyst

for on Hey, guys, Steve. it's [ph] Sidoti Frank from Fiala

Steve Moster

you doing? how Yes,

Unidentified Analyst

if already called one, Good, the I going thanks. of at quick point I just your could out attracted had dollar customers. an there maybe you asked, so the dollar. to has speak more, Pretty I be to… some much impact was curious Canada U.S. anything another for I ask the offsetting guess relative to just what devaluing them, you all Would could been make I'm Canadian for that transactions guess U.S.

Steve Moster

Sure.

expect I are exchange could that have know, the that the you dollar against these foreign value slight We Canadian levels be given of seeing we to visitation before. the on lowering Canada. think of a don't U.S. impact to tremendous,

So impact, of drive we the more it large could don't anticipate a certainly but visitation. potential

Unidentified Analyst

That's guys. had. Thanks, all Great. I

Steve Moster

All right, you. thank

Steve Moster

Okay. we call Well, questions to to I you are much. appreciate speaking we you Thank and bringing an the interest I Viad, next with look and again end. forward with that, in quarter. your Good-bye. all think very the

Operator

Thank you, speakers. participating. for That concludes today's conference. you Thank

now disconnect. may You

Pursuit Attractions and Hospitality (PRSU) 26 Jul 182018 Q2 Earnings call transcript