VVI - Earnings call transcript Q2 2024 | Pursuit Attractions and Hospitality, Inc.

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Operator

Good afternoon. My name is Joel, and I will be your conference operator today. At this time, I'd like to welcome everyone to Viad Corp's Second Quarter 2024 Earnings Conference Call. [Operator Instructions] Thank you. Carrie Long, you may begin your conference.

Carrie Long

you Conference us Call. thank Second the and Earnings Quarter afternoon, for for joining XXXX Good

call, Chief to David During important website, Steve will earnings and that our presentation. Presentation, Moster, measures call, each disclosures our Officer; during the you and pages be adjusted including available we'll President regarding CEO; will be referencing income. which adjusted Ellen non-GAAP from Pursuit, is President EBITDA contains of Barry, hear the specific from Financial referring who and our Ingersoll, our on net

not quarterly, made facts, concerning Additionally, the factors results in certain statements annual, during and I'd other earnings who of forward-looking our differ and constitute in presentation. other SEC. And reports call, will X that Information which statements. with over materially are found be cause actual those to historical to start can forward-looking like to filed now our the could risk may the from business the turn call Steve, Page current on statements

Steven Moster

had Pursuit's based Carrie, impressive quarter EBITDA GES's and revenue advanced EBITDA. you season of above range the seeing happy our pointed year. on very half bookings second our for third reason lodges and guidance, performance. and came thanks would delivering that joining start for which locations strong as with strength margin to on was improvement. to was XXXX. continue in prior deliver our the see and that GES, raising EBITDA and believe report adjusted for our growth for our to adjusted our outlook every GES's we the And summer quarter, we're demand Pursuit our full in our of call. second I'm to Pursuit range, healthy attractions Thanks, iconic the all a high growth exceeded with for we we near guidance at a both operate. Entering to strong the guidance end GES our prior adjusted are year-over-year strong off peak The results the guidance of we to full and year

in National by impacted being However, Park are Jasper wildfire our operations currently activity.

disclosed we critical town park July was as Jasper Jasper, services majority authorities remains the of on including The XX. and X-K, park, closed evacuated previously the to As fire of to the work continue the restore and by the town site. closed control to

have to members the infrastructure. responders, hearts thankful Our out community protect been work to incredibly first go and who for homes, And their many businesses lives, the team our and to we're Jasper and all impacted. firefighters,

We will over cover turn the latest Ellen? Jasper review call. Right our updates Ellen, I'd to now, who call assumptions wildfire and financial in the outlook to will like on second quarter the our performance. later the

Ellen Ingersoll

second or our X million adjusted Revenue million, $XX.X year Thanks, consolidated quarter adjusted increased net on over with by Steve. improved XX.X% start million. Page increased year. and $XX.X income $XX.X Consolidated I'll results. EBITDA

Our performance, quarter, GAAP was than by stronger to $XX.X business second higher attributable the XXXX offset higher depreciation Viad net primarily million partially basis income reflecting expense.

second EBITDA increase quarter which revenue, prices. attraction million, year XX% and or $X.X higher year, over Pursuit's to increased increased revenue X, Page grew due by ticket adjusted ticket visitors revenue on Pursuit's shown As a led was million. XX% effective and $XX.X growth by XX.X% in

big contributor increase. Pursuit's improvement. growth increase and adjusted attraction to Chicago primarily revenue the in visitor's reflects EBITDA FlyOver March new that Our opened a was margin

shows, of quarter of XX.X%; million strong $XX.X about unfavorable performance GES XX%. Page GES's growth and or was on exclude shown during EBITDA year-over-year the million, $XX.X second margin very $XX adjusting growth growth million, million; X, nonannual major $XX.X to second quarter. adjusted As of consolidated impact revenue delivered When revenue or the

about XX%, corporate XXXX clients. or nonannual major of strong second from $XX.X and driven by quarter, events, revenue versus Excluding spending existing impact the the Spiro's million, new grew

Excluding the growth. GES versus the about revenue Exhibitions' due of XXXX XX%, underlying million, second client or $XX.X grew to major events, and new nonannual wins impact quarter, primarily

Page with our ended our a quarter which the X, position low with debt, end of below was $XXX.X X.Xx. second ratio million liquidity to we leverage on of range is the strong XXXX and ratio target X.Xx, of Next X.Xx

into Now provide David and at you. back will GES and performance Steve insight to further our Steve, Pursuit. business

Steven Moster

Ellen. Thanks,

XX. Exhibitions spend over notice that and the higher spending to ability through through review to left, space price, services, GES additional on you net levers are Starting Now square multiple Page foot we driving capture let's GES growth the revenue event revenue of switch our increase and trends. per on will same-show with higher more overall

return the to levels, per EBITDA. will net square square which revenue that foot flow-through about have XXXX, XX% is tailwind pre-pandemic revenue on to XXXX. currently same-show of overall increasing into expect We will a create footage Both growth size high the event below higher and

our page marketing Spiro, right-hand the the experiential of agency. side On is

to at our expect We a creative expanding Spiro additional to branding existing to roster selling low-double our through experiential digit is our revenue high-single services clients. trusted a partner. increase and and marketing client strategic

to a the marketing agencies now reached with of agency positioned share total that XX marketing wins since few experiential experiential end-to-end well in discrete within are of client capabilities growth. as I'm for Spiro reach, And early we one a GES we launching very and As global new happy have XXXX.

year-over-year are connect way. substantial marketing in customers existing clients brands spending. seeing a powerful prioritizing in growth services Corporate we're Additionally, to experiential our their with client

encouraged to trajectory. trend compared channel network business, XXXX. year-to-date significant important other XX, live by industries. On When favorable an their adjusting of Page of experiential to about education of robust remove consolidated are topics the within half trending this relevant are provide the nonannual can the in first major marketing companies and growth industry. by see revenue receive to events, growth drive overall GES's you revenue In-person grew GES's GES stakeholders, delivered key and impact new revenue for year. XX% seeing we the with overall forms and We demand events within

For year-to-date prior revenue X% compared growth and by U.S. about Exhibitions, the was that GES XX%, about wins. exhibitions' growth grew to client underlying rate driven new same-show year.

Spiro, the about revenue clients. was existing our driven winning success growing by new adjusted from rate For XX% clients growth and year-to-date,

The business of was wins. due particularly quarter volume second high new a strong to

of strategy our And by was client provided we the last most is call, highlighted the As power which in this GES a flawless new deliver the supported year. Spiro Exhibitions. it GES collective, significant terrific of on event where was largest will and Convention creative and from the of Worldwide XXXX the Barcelona, McDonald's cutting-edge is Spiro example the one projects execution

of our major to $XX million incremental IMTS are from shows, and including September. will which million quarter see in about third revenue held $XX nonannual The MINExpo,

give advance, year our both or double-digit a operational in GES year experiences with While is the tracking so executing strategy outlook work creative of finalizing all half go, expectations. line full trends, year. these client revenue With this the along our our for in events only currently show is second and growth. on to favorable team a us These in nonannual The confidence with major partners. our for and the and working directly shows schedules, plans month started strong in team clients with laser-focused are

GES. I'm profile. XX can to our margin our improvement margin is previous our changes first a margin We EBITDA the year, Now, year-over-year. cost margin efforts and I've would EBITDA up as let's about XXXX adjusted the at half On from for Page clear GES's XX% margin expansion. on the talked higher points look discuss achieved at transformation impact achieve XXX drive adjusted of have structure business in with revenue evidence which provides we've basis results GES's the the calls, thrilled increases. of take the that and a performance the seen that

efficiency productivity continue disciplined margin and drive benefit to gains remains of to EBITDA deliver full years on expect come. We X.X% management the for cost from our Lean to additional about on to initiatives GES in focused adjusted year, and

the for GES's million. I'm guidance of adjusted million and our announce As of I expect are first now $XX $XX range $X based EBITDA the to that in on million we by we be the the mentioned business earlier, in outperformance raising half are to seeing pleased very XXXX, to and strength

event to approximately exhibition our footage net line million. annual largest net of for reoccurring of space, long to about GES's impact continued growth. XXXX X growth is XX, plans profitable levers the GES year: projecting partner trusted revenue revenue XX% in for let's square clients Page serving about our GES next sight from of into and major and focused exciting due increases, as unfavorable client needs. a price wins a on shows. team nonannual growth on Now, for their has despite $XX event experience of XXXX flat and is clear moderate talk The continued new

a exhibitions Our and to longstanding events rates. GES their The clients large won and relationships clients, show contracts contracts for to are team winning generally beyond. structured with and with XX% of Amusement corporate MSAs several International is Parks American including the recently Exhibitions under marketing the to ability and of wider clients experiential client targeted add wins across to of Surgeons. activities. organizers XXXX retention Association and North for continues already and selling produce Food roster to to Institute our the new our net next spectrum them Spiro for Technologists, Attractions, Neurological client in feel for Congress confident year. support We its work And existing reach with

and our to ability experiential globally industry. And call across sectors to I'll discuss puts a record position the us turn the track and Our now unique marketing leader David proven to as Pursuit. both exhibitions of in execute in the a success over

David Barry

Thanks, Steve.

wildfire start active. off discussing in which Park, I'll the by Jasper So remains National

responders, Jasper to tremendous has as for from province, nation, first as grateful the the their Parks the from well around efforts, world. heroic the very the as we're So team of municipality and Canada members, Jasper as support firefighters, received members the team the for across well

our team, incoming restoration our top community, the and Jasper priorities. remain Our our of guests,

supplies, by past the emergency over to housing on so, the providing team transportation, those we've many involved inbound also fire So We're reentry accommodation, aiding efforts. for of our concentrated essential by secure the impacted solutions members in working trips. or meals, rebooking those XX and and days

and the XX% as experienced reopen. All about experiences was of being are town from the and fire town while businesses, were Lake including thankfully Lake site untouched fire. restored by is all Cruise hotels XX% in reached and as municipal Jasper successfully Pursuit that infrastructure devastation and site, also Boat Cabins, as by well homes, intact. of our town, critical and work significant hotels, Mountain Lodge, to power Miette hard not has Pyramid Maligne authorities protected, the fire, the So relieved Jasper were We're

And about known Jasper. of Parks resume town Canada safe Our Work to a retail site. reentry Canyon conditions services have for to continue, Maligne September the operation in Kitchen, if X.X to outside that and the remains kilometers, the restaurant done visitor the expected current communicated park property miles, limited Jasper Wilderness losses been to X town be are X.

great which optimistic be to existing We're our access Icefield to Skywalk, to when of in coming continue Jasper the and authorities and operations reopen we're it and will looking prepared Glacier efforts up understanding will Jasper long it the we will threatened unwavering, to once However, lifted we're is to takes. experiences and View Adventure, that situation support as Jasper area to of to Lodge. closure Jasper resume southern able. the hospitality restart the has Parkway people our National in fires, opening operations to Glacier Park, has by able incredibly Pursuit been look days, is providing our is Columbia Icefields not Park National being responded the the our soon. could allow. the team for rebuilding soon And forward as guests to the we as this again And Glacier and The forward as road commitment

and which records, to seeing collections Now half performance, I'd we're trends the of Pursuit's discuss like the strong year experiences. of across demand our first set new

on ticket This So Pursuit's growth in our I'll was performance driven $XX in revenue year-to-date. ticket increases XX. by effective up which prices. with strong to and were attractions attractions million start Page XX%, visitors, XX% our grew

about year-over-year, higher XX% Our revenue same-store with ticket prices. effective ticket grew significantly

first attraction, FlyOver was very the opened X we new impressive and increase we've Chicago which operation March, our visitors. meaningful been of our reviews in We're months that the contributor Additionally, favorable getting. a with really to in pleased

demand, benefited strategy. attractions point-of-interest and from effective saw robust dynamic our we one-of-a-kind pricing Our

rise. of metrics capturing Pursuit's higher XX, Page $XX driven geographies The from on Next compression versus our and travel properties delivered providing in this well revenue, our by last guest destinations, X% from the international with year. revenue lodges fire experience, booking great and by the solely on And was is demand that pace to revenue impacted hospitality standout our outside are for is which year-to-date, is seasonal perennial of All our at in closures on as performance and lodging markets. Page our looking grew Canadian focus room in travel demand room million shows to room destination experiential see, can ahead driven bookings our Jasper. on a XX is strength ADRs. the our as XXXX, properties pacing still you growth our by not

So just about let's talk a what so special for resilient. Pursuit second, makes and

in view. attractions perennial places the demand, a point-of-interest in our properties world strong First, and and remarkable with are beautiful located lodging loves everyone

competitive locations experiences our moats have strong Second, to barriers significant entry. in with

lodges nearly occupancy our full demand reach season, summer market high with peak and compression. During

product cross-selling with lodging located provides attractions. our Our robust range of opportunities ideally

the with provide. value we our pricing we Third, that align

promoter So our balanced scores our reviews net pricing value and reinforce approach strong to perception. guest and

in may we our remains uncertainty the while future near term, have So bright.

let's move our and to Buy our Refresh, to XX strategy. meaningfully Pursuit Page journey Now about through Build, talk successful scale

We includes Refresh projects and have throughput see approximately pipeline into organic we existing Refresh existing pricing an $XX and our investment, high-performing Build our newest where the inorganic within we're to incremental FlyOver and accelerate investment our into as at generate growth and to million smaller help well future. well-instrumented other exciting Chicago, investing XXXX, In This opportunities collections. as Build power. experiences opportunities investments of

in to due yet Collection, interested Iceland. a in be through Jasper very assessing and attraction, is this growing We for in identified at many in we're investments. demand our An strategic which geographies the not and impacts we'll on big wide. adding of great in example interested opportunities an process expand offering to wildfire is world our our meet Pursuit. acquire example, our our aperture to of in tuck-in activity growth scale acquisitions new, We're expanding seasonality of is Lagoon to and fit Jasper closed have that prior share is For but We've to existing to balance market the announced guest upgrading previously additional one-of-a-kind our keenly footprint. place, it the capacity the sale other remain We closing. to will Jasper. diversify our SkyTram, also this and The collection top-tier asset and counter-seasonal Sky wildfire a growth any agreement out and geographies a Banff

want as conclude municipality lastly, thousands Pursuit again Jasper you to Canada And say to to best for of members thank big my you of I in us, So, workers, super-importantly efforts thank firefighters, to once every their a just I and emergency. remarks, Parks emergency the this across their teams, probably for extraordinary team day. Ellen, the you. and bringing over for

Ellen Ingersoll

David. Thanks,

EBITDA is is half which range increasing guidance with outlook million XXXX results in cover third Page above GES. the XXXX. to year the million, XX, Based I'll and stronger-than-expected GES full significantly starting $XX.X to $XX we quarter $XX the Now for million first on delivered GES are looking our that, XXXX, of on strong. for

full consolidated third quarter, versus XXXX we we the million EBITDA to be trending a nonannual also This in third to strong not from reflects to position approximately to negative key the performance range million $XX would raise for in adjusted Pursuit of growth with million year million For the GES's show the wildfires, for the in Jasper have $XX well. $XX of our indicators been benefit million, $X $XX expect revenue. If very guidance, quarter.

the predict September wildfire, it date a Canada active X. reopening Parks is While messaging to of of behavior currently an challenging is

Pursuit's million guidance EBITDA million to quarter. $XX.X $XX.X third is compared we be somewhere impact million, to $XX could third compared are estimate EBITDA XXXX. for $XX we $XX million. Based scenario, holds, to adjusted to And $XX adjusted full to Pursuit XXXX that in million million, Pursuit in million million date as the $XX that the quarter our our reducing guidance as $XX for to on year EBITDA around Assuming to

than result deal for our guidance is now million of XXXX As $XXX consolidated there our great of is $XXX a a range adjusted which stronger revisions, year these of EBITDA Pursuit. ranges our uncertainty to in $XXX million, full is million. Clearly, EBITDA guidance

our a now, we and as we know to doing will guidance range are We best what provide updated on realistic based provide appropriate.

with engaged regarding insurance actively impacts the carriers are our Jasper. fire We in

Our policy limits and to property sufficient loss are cover of our profits. damage our known estimated

to based be Much However, what property I damage. provide needs highly to of back properties alongside want and is ability to work extent tied are you. will again, interruption will insurance potential our caution to fact-determinative recover on learn to inspect proceeds, as to the our we insurance able be thoroughly understand when we business to appropriate. Steve, It that done adjusters. our updates we

Steven Moster

their our will Thanks, possible Ellen. and thank shareholders. I deliver best In drive the clients, for the questions. up we to And to and open employees for want our talented closing, for that, call with commitment results guests,

Operator

Oppenheimer. from Tyler Instructions] The comes question the line of Batory first with [Operator

Tyler Batory

all any to detail out fluid but with a along on Banff, a you situation questions. know disclose I of is I of that, And able in in the Jasper, year, did I Banff to in wildfire in much where started a in understand Banff much Collection Jasper? Jasper? the that's when terms are how impact reduction, here, guidance In then July on want how start given you with, is going Appreciate see in cancellations you break with revenue. and difficult, it's Jasper what's terms my

David Barry

Yes.

guests rerouting So haven't cancellations, in first, at We people compression any is cancellation are happening actually I'll Tyler, seen all. have from you Banff material Jasper. What point. start on really as the there's

guests major tour partners all travel And actively so, in of geography. have and the again, our

lost very But this hotel looking volumes from greater. We number in tell businesses, elements itineraries basically as rooms, moving homes in leaving that is revenues Jasper. the with business and positive are Banff change to in rooms you Jasper, get the I in their and XX% and that you're unaffected. don't we're that to some those can break the factor hotel you empathetic profits say, really situation been rooms hotel will there of, at affected, and folks a those their again, them. only have when look to lost of obviously, have of Banff Jasper between have Banff Jasper so, at out significant Jasper the it. And what One, as really XX% for And challenge is are

weeks, So still able the would is We View Discovery to also, on Lodge, reopening to as we but which from the matter improve not up to will work to Parks everyone the Tangle and Glacier Falls, before imminent. a site, we that. will reopening, be to the we of indication have focused have Glacier don't expect days ahead. way that Parkway Icefields the the it is access which Canada the all that Columbia some allow in Skywalk, of days, Icefields the be Center, extend And

Tyler Batory

pieces a this are guests it's proactively still lot sense news? that for date, or guidance, perspective and after then positive, pretty you're talk reopening and around talking seeing September you not this expecting September and soon. know that that Are of to day? people in what's moving some into with that Are what October? Any about of have September the X a -- X, the for stays but you assumptions know, I just just you sense I'm outlook. seems trying trying canceling for discuss a get to there's significantly, Parks And given which that Canada guest bookings

David Barry

conversations start been First, days. XX that let over I've with the last having me the

our travel the reconnecting had our and partners to and folks. talked and travel all pleasure senior with across together tour I've with of major our great I've globe partners, the of sales So tour

on a And a to think folks from it which Canadian so, there's think way traveling as all know geography And folks there to the Vancouver, to Canada of are big what's the to tremendous way is traveling specific important Rockies I they're in a through the Jasper. itinerary. are that is and traveling commitment Western think about

very all that Jasper So our green bring tour back the to return business they've and business, excited light. they're travel enthusiastic and about partners are moment got to the to the

stores, example, reopening. us and and a businesses Jasper, in that's tremendous businesses, positive. And owners to which grocery point gas all So particular a teams access mobilizing their an have to of like stations, drug as helps cleanup the stores, of been travel essential today are granted

of so, donation shifted And each along tremendous those way, we do of itineraries, just affected a call the have steps those guests to Jasper. also we've but have provide amount that and in accelerate to we wanted that have had a as guests

say saw This would in town have side I have a of street, remains hanging is the many the you this of that but have you fire with guest basically situation was than where So affected. side wiped enthusiasm us an of town horror of the been is is high. Remember, window. different the out. XX% the destroyed, other very still Lahaina, Imagine one in street on the buildings of flower baskets entire

amount of untouched, destroyed, has focus have And of you that tremendous property a of on XX% XX% town, a rebuilding. property that been so and is

anticipate regard yet. So to sooner, business is towards guarantees the will be that There's and everyone no outcome. working we that in return

so few weather wild land in more controlled. terms of fires the We have in favorable rain, had last are days some

all so And rail water, the there's infrastructure the town cetera, to within services fires for all remain sewer, town final all intact, traffic, no well services, the et within control Jasper. essential is under are fire reminder, west town flowing And and the hall, active The managing a Jasper commercial town obviously, commercial highways of hospital, have the actually the All essential is reopened intact. fire and Jasper, site. of on east municipal focused station, of just team traffic. at traffic in through there's also,

been, think to has what positive facing. as they're managing tough result that end this with as everyone's a I So outcome

Tyler Batory

next Was the not in was interested a in I'm thing. terms to was But time how consistent just year to conservatism strong there as the year with of you could how in gears switch what which bad commentary be and the driving obviously that I'm things. past, I'll second side that? half anything first in is really that strong And was much GES how the quarter, of just nice said there commentary, full that. one so year the well. see margin sounds and tremendous a was just wondering given full quarter The

Steven Moster

very I'm pleased with businesses. both

saw lot significant in prior over to as a of preparing through for around incremental bottom. good A of we and margin a to a quarters business work that that You had year the continues in is revenue really and lot flow the the revenue grow. structure done cost prior team the higher recover has

being So other quarter. in contributor thing a growth the Exhibitions there's talked and there other we quarter. that large and That's Spiro no that about But ago McDonald's one within happened just a within the drove. Obviously, about were minute project in specific wins a clients.

lead help between had. and a a wins of new said, I that us net and highlight to momentum really happen. the great next XXXX. just more we've more then for wanted quarter their tradeshows in clients and close seen in of increase call, a into the really indication continue are outlook to are to a corporate overall, we've where quarter here high year, trend that believe like size. flowthrough And during closer spending a that couple really EBITDA terms gap of terms that XXXX. what you of And the both been those margin. And businesses win We're we or in the of So Those we've our have will strong of consistent continuation to both to

we of So headed, like. will I we're look XXXX, And I good look what project is feel at obviously. about ahead the 'XX We're as where year reaffirming schedule.

Operator

question next line B. the is The Bryan Riley. Maher with from of

Bryan Maher

that? property to insurance quite us to Maybe And the start didn't I things about little Ellen, interruption the lost some coverage. for business and damage. to think Can profit off, business on a give about being color how understand interruption more you said you the tied

Ellen Ingersoll

it have other if damage in to It smoke Sure. doesn't property The hotels, business water we mean the interruption hotels. at be damage could damage, fire that kicks the be and necessarily. could

we we there. it's we to interruption in route. a There's So be have what damage lot have long what, to to hotels figure go going to and then that any, business determines if a to is have out do But assess and process, our Bryan. our

Bryan Maher

others, hurricane issues I'm hotels cover. experience Tyler Yes. and with companies I, with and in Caribbean the the that sure and Florida had have we

know hotels drag this your about you insurance Banff company, profit, think a does look though, if that up can to totally fact the or packed the years. separate? I literally So may of out profit incremental that Jasper, couple maybe pick because aren't to have does lost at are you When though, both people going stay

Ellen Ingersoll

a interruption to properties that process, that sure make the separate properties. good strive our business side we we will keep Jasper yet. it'll we'll that That's to question, But us talk those that's and whatever's close to be to our about. something owed and be related have a going and even to to insurance companies And get on point not to we're

Bryan Maher

you key there strong. that opening The there any versus as Chicago, Vegas? any the Maybe shifting gears up Toronto? on takeaways in is that what And Chicago good to for of experienced FlyOver news Are David. update opened Las

David Barry

Yes.

me start with So first off let Chicago with pleased roaring a start, that. to really

attractions. I competitive market honest, be terms than of Las Vegas Chicago is a think, in let's less

would I Vancouver market than Las that dynamics Vegas. they say much And so, similar more the to just are to are

technology, also attracts compelling. of is So the emotional a through really then story soulful, exhilarating, a significant drone And number cetera. content et and and and Pier Navy journey use It's very Chicago Chicago of visitors. flight a that's pretty

performing FlyOver just compelling happy well it's to a adapted tremendous the market that. that's really content, with So we're a well, and really and location, model is

me channels switch Toronto. Let to

for obviously, We're has several most of patience. longstanding this the it's from through come executing a of the project. to the questions FlyOver earnings permitting with in agreement years popular of And the everyone's been mutual lease calls, site. one for the Canada landowner, Toronto planning and and stages just working appreciate that final our and So Lands, on terminate

to explosion best escalation the for of many growing the with and excited really and in terminate and have of the focused to the work the and with we're lease. We're landowner just just we've done existing our the clear was the it Given compelling attraction us visits our platforms, content. that locations Toronto we've FlyOver construction grown challenges, X and became for that on to this across costs outcome done,

Bryan Maher

Iceland to is of that Has color give was volcanic Can and ago. and you there? us topic usual? business the quarter to a gears subsided Shifting the at getting that back competitor activity conversation any your

David Barry

won't now, Iceland. in peninsula excited Sky the enlargement us provide seeing visitation, to great support, so experience. we're that of which much Iceland us, and in gives will really It and obviously, a a to great at it and competitor, is But XXXX. well. just is on the speak host I fantastic capacity The flows. Iceland. product, addition Right but ebbs I Lagoon, end guests to all appears tremendous record Ritual great is in calm we're activity business true, volcanic the to my summer highest again, going visitation the It's reviews, guest our for track on really launch performed of great having for mention be a

So good shape. Iceland's in

Bryan Maher

GES. be we're Steve, for to got fact, week, When Jasper Investor get thought get us Pursuit numbers you it upside back time. new September happen? Well, the matter consistent now in if, for this in in should Iceland to last on you think numbers is or then question for maybe and for Pursuit won't out of Columbia to Tyler the of the to forward to that we Day your sorry, that a leave my until what open in looking But all about Maybe coming. you're days me, third reopened a quarter there Icefield you with showing Ellen X,

Ellen Ingersoll

Our current sooner assumptions September what than getting the talked about Icefield assume David us X. opened

the have open the downside. So whole could David go about. count we're upside, upside X fluid, lot assumptions if that I where that some wouldn't at. would Bryan, so a a But holds, situation I date is some but [indiscernible] And our It just in what into September say, the if talked on of does are we on depends week. guidance or

Operator

of The Craig-Hallum. Alex is line the next Fuhrman with question from

Alex Fuhrman

more Wanted on on Jasper. issue going to follow in up the

site wildfire? you something close as until of significant do could year up this you think obviously to without town of lot as and But some that next there's this perhaps done be that be analysts early be if could back in for multiyear a for you're the to to know it it would this uncertainties year be that is year you to business I this pretty impact there what would think the about year. conservatism you? the the of Given recovery hope to prudent pretty next a year, level town season, your full guests returning as season Or site, building have remain a

David Barry

town. I our that Alex, where intact. reminder is start think are the located that experience properties eastern been Yes, with have I'll this that that of hotel fortunate end we a through at They're

in are sitting are intact. as well situation a as ourselves where properties our neighbors hotel our So

my neighbors lost which Our strong, continue. expect hotel about our very obviously of In the with travel that is and represents tour the have to lodging of discussions Southwest XX% we in and Jasper. availability partners, their demand to properties,

lodging into we lodging properties. compression travel compression the the and So recover, in may think a accelerated so eliminate taking other accommodation as issue tour it particular are recovery face for different look seeking their could there are more within rather just you itineraries. that because base than ahead, when many due bed pushes town, XX% of to years And I partners be opposite you a it to

of thing of square so fires, multiple affected basically is Jasper kilometers. the kilometers, of Park. is interesting total size an think but that hectares, national park When has XX,XXX Jasper of as fires, XX,XXX itself in National The XXX so you fires roughly XX,XXX other important that square which is square -- kilometers that's hectares, X,XXX,XXX The hectares. a is X% X%. math, is fire The

these visuals the of or outside of the know where angles is X% X% fires been all you that of see guests from of things guests view what lot So this traveling. have of the affected. come And are a to are that

from tell strong Jasper of strength remains terms the 'XX, Icefields around So visual see although we 'XX. travel that details the and demand strong, the for world, know confident the of partners, in you yet, don't visitors and its impact, sustained, our attract Parkway, tour in we with to can ability the I all discussions 'XX,

Alex Fuhrman

in through employees as next for as site just you help range have then the And and guidance contemplate of just this year? back what's much have and think able us expectations how guests it year, in your about range the to housing end to coming of the work you're you relates you of if guests the this your outcomes guidance, does just back hotels low would Can month? Jasper your to town still

David Barry

a questions guidance the defers food, a housing. team of different housing, the support, obviously, steady team that et are resources, our on one, couple things of providing with is we're quite we spread housing the financial stream members, President Question wise communication, first I'll distance. out CFO, And A over for have members: so mental always shelter, ongoing that thing. doing to start of we're That's health cetera. a

team get members to is are excited back work. to Second

the they as lovely is first fun it, some living want be of a think form for Jasper, in to you're housing. about other to going return you and about going of family then a X to room So X, temporary if days, you're hotel if

together housing a And you create different cetera. to So of then period of a with workers, Alberta you're construction of variety is those so have And the then mobilizing have going overwhelming kinds government, you'll Parks guest rebuild, et have demand. to options. Canada,

it Ellen are question. anticipate. And So to defer of going things to I'll we to busier being on all contribute than I the think guidance these

Ellen Ingersoll

we have Alex, we to key guidance, guidance Sure. around put the And then the range a assumptions a just set formulate say and that of I'll use on that.

So any But right then worse. best one now, estimate of around or that. assumptions is put we range the and be these better our could this

Operator

Brunemann next Will The is question Instructions] [Operator with from Northcoast.

Will Brunemann

seeing just events hesitancy or on couple conversation you spend with exhibits I companies, right. of a have all then that's if follow-ups to in I curious, any are your So was produced by And Spiro?

Steven Moster

events, seen we tradeshows. corporate corporations call Well, very but what attend also for for Sure. activations brand exhibit to programs corporate for have strong at and both spending those Spiro, would we

performance talked growth our our consistent expectations a clients. the we've That's last our few steady, for from as quarters, and been for led about spending sure. to to So, relative the outperformance in it's corporate quarter, for

Will Brunemann

it for on to when any guys you of M&A in that, pricing then And then be open And going I Viad seeing would was pricing environment? comes business? acquisitions the for are ask to GES concerns top the GES to opportunities,

Steven Moster

with start environment. the pricing I'll

So are capabilities we we quality the are that has team we the according deliver. in a to mode where the product pricing and that the and

price increases so see for continue that, in change the we have to couple least at future. And don't I see the last of And as any for industry, the near we in years.

In clear. and been has capital terms our of strategy allocation M&A, our

but wouldn't For at is growing the Refresh, that dedicated our Doesn't to last priorities things years, in order from the priority options at Build, scaling Pursuit. look we we same, Pursuit mean GES, more several Pursuit scaling Viad been we through remain future. into which to perspective, have the and have Buy that strategy and the scale a give

Will Brunemann

but the insurance Jasper maybe you could last touched this, potentially Okay, the for park opens if up, up proceeds those your but is thing, back you lines? because or just fire, and visitation of XXXX, on along already that opens back receive one in then compromised anything

Ellen Ingersoll

the doing that. tracked. The have insurance would come the now would business be and assessing hotels right what that an perspective, damage we business to interruption from from would what we're So interruption is

would it carriers. that be through and go this 'XX and look at process 'XX, we'll So a insurance with our will many-month

and talked be at go that further fire away we the process. interruption business get, through the expecting it insurance less you would So the will we from proceeds, you look David the away the that subsides. we until about, this case look yes, we get at will Obviously, as the further but implications that

Operator

no this I over Steve Thank time. back turn Moster, There are you. the further to questions you. at call

Steven Moster

thanks We update near look Thanks, forward earnings us future. joining to Thanks giving everybody you to in our the Joel. an so for And for much. today. call

Operator

call. This concludes today's conference

disconnect now lines. may your You

Pursuit Attractions and Hospitality (PRSU) 6 Aug 242024 Q2 Earnings call transcript