VVI - Earnings call transcript Q3 2024

Due to licensing restrictions, you must log in to view earnings call transcripts.

Operator

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

Carrie Long

Good afternoon, and thank you for joining us for Viad's 2024 Third Quarter Earnings Conference Call.

During the call, you will hear from Steve Moster, our President and CEO; Ellen Ingersoll, our Chief Financial Officer; and David Barry, President and Future CEO of Pursuit.

website. business our outlook, available earnings Investors of their specific will on discuss section from pages presentation, our they performance they and reference the As which is to will And non-GAAP forward-looking Steve, your before measures to and contain and presentation, X provide statements call. of Pages the the important I call disclosures attention I like regarding during to turn the would draw our which we X that over use of who I'll will on turn of it presentation. now Steve, our to And X start over Page

Steve Moster

Thanks, call. Carrie, business and our off joining thanks to all key of I'd by you for highlights X start our and updates. like to discussing

revenue near EBITDA First, disciplined Outside demand strong We GES' I'm the attractions adjusted our for continue during third Jasper, both Pursuit guidance to and we non-annual in on of that major and which Pursuit's lodges this we strong performance impressive operate. high management. and guidance our in shows and and quarter the GES iconic remain above was serviced of to end range. locations our growth during focused our report margin delivered cost see adjusted quarter. very came the with successfully improvement. happy EBITDA

Ellen, strategy And like hospitality will performance. its prospects the review third have Refresh, Ellen? financial of we flexibility also third, and its substantial the to million accelerate growth are balance to completed in a on expand by pure-play, to Pursuit our who transaction at I'm to Pursuit's to call to end GES Stand-alone we attraction Glacier will Collection the year. area.Â And and business. a This high-growth that will track on tuck-in Pursuit the and recently Second, high-margin pleased financial announce $XX.X Park over for of offering the I'd space. capitalize and Build sale quarter establish transformative turn acquisition now Buy growth our in that the complete successful sheet the

Ellen Ingersoll

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

basis GAAP $X.X income related performance of XXXX impairment offset costs of primarily GES. by the sale higher quarter, third at was $XX.X million charges stronger than and million reflecting GES, net pending attributable Viad to Our partially to noncash the consulting

As third delivered from an year $X.X and shown million, quarter adjusted and of and million due activity prior X, EBITDA Park. National disruption $X.X on temporary Pursuit of Revenue by million, EBITDA margin the Jasper of respectively, in $XX.X EBITDA $XXX.X to revenue down adjusted XX.X% and million Page adjusted wildfire were caused closures

Jasper which Our Lodges revenue revenue Jasper as XX% excludes Park.Â On basis, as of our increased largely ADRs ticket attractions offset for grew which million our experiences. and XX% National $XX.X experiences was from outside and a decline attractions same-store room demand of by a effective well Jasper strong prices the and grew properties, experienced revenue year-over-year, X%, driven growth by ticket revenue

and million $XX revenue which of client of shows, X, reflecting Spiro million the year, about increased no and spending the Exhibitions. cash strong quarter adjusted strong $XX with due at EBITDA million, $XX.X GES nearly adjusted $XX.X both Consolidated million the capital Page revolver. and revenue X.X% primarily GES total primarily margin and of repaid we on delivered third of growth Exhibitions to of our quarter. expenditures million non-annual to $XX our major added major liquidity million ended prior generated debt of year-over-year, EBITDA XX%, $XX.X $XXX.X $XX revenue We EBITDA from which on up adjusted of consolidated outperformed $XXX during the from $XX.X Spiro due on and revenue spent revenue borrowings XX% and Page shows, GES from shown million million on operations, As of million, expectations.Â Next were to of quarter. increased million respectively, on X, million an $XXX revenue non-annual

debt leverage ratio net $XXX.X was was million, and our X.Xx. total Our total

we've from achieve adjusted range the adjusted EBITDA million, outlook million expectations Now up to At I'll year-to-date prior to year of Based $XX Page cover to $XX XX, expect $XX XXXX million $XX are performance our now favorable revising previous starting guidance we XXXX demand $XX business for in on $XX Pursuit trends, million.Â Additionally, we stronger-than-expected to on GES. with and underlying million full ranges. narrowed of our to GES, million. EBITDA our

As revisions, amounts including result million, These of incorporate $XXX EBITDA of our $XXX million of do are quarter. third cover which is of now protection received any not guidance recoveries of EBITDA used we $X.X to businesses. Jasper is such adjusted the proceeds, from Thus recoveries we've the range our and uncertain recovered guidance these stage. up These $XXX proceeds year a our attempt timing and XXXX million full during interruption at insurance million. ranges as far, consolidated the approximately restoration property business and to damage million $X for costs this incurred were to

will of we insurance receive, appropriate. as We should engaged to our are to and updates with extent proceeds understand insurance carriers actively continue provide additional the we

our further Now David and business will insight into David? and Pursuit at GES. performance provide Steve

David Barry

I'll wildfire Ellen. a update Jasper's on activity. the following with start Thanks, quick reopening

to Kitchen. fire, Maligne you're already lost the we Canyon one our structure Wilderness As aware,

impossible and our Cruise we the access making of restored X of until we Pyramid prior closed year. our repair not Maligne fire and holiday after to Lodge facilities for minor season, the protection quarter. were during attraction reopen it was hotels intact, Lake this reopen remains to all as of from operating this end able us Fortunately, out reopen to X are that attraction Road will the damage property Jasper third Lake in some season. other to busy the efforts,

The was very our pleased of September, to Columbia head experiences X% on number booking in the is us in Parkway are down the Jasper's same iconic the hospitality and demonstrates at confidence season lifted. demand and the occupancy that for Jasper ski levels. first Road the time once were back night historic to only all Icefield X we attraction and resume XXXX slightly There reservations into this encouraging through for than upcoming Jasper.Â Our visitors we year. are With quarter the lodges are give last tracking at August guest Our market during room on We online, XXXX return the of more drivers XXXX. year, reopened as with of books destination. our XX% reservations of higher that this came levels the attractions as perennial pace typical closure several business it expect about and fourth prior was about Icefield quarter from

Rockies. firstly, the Jasper at really crossroads So sits a Canadian travelers leisure important visiting for

and as itinerary. is on multistate guests a successful journeys key park tour is national For and beautiful partners, our Jasper a travel located to perfectly tour it in multi-destination overnighting travel and facilitates

reduction hotel to will the is to inventory in temporary of XXX take the to be marketplace. room lost for Jasper's XX% hotel those fire rebuilt. It years of rooms Secondly, going several compression cause

concerted partners return to of ahead bolster as provincial, tour governments municipal, Parks shows to We effort a and federal compression demand lessening.Â Thirdly, travel Jasper. from travel have the there's seasons no and the our Canada sign of several from to

is for powerful be saying marketing in the open to that this expect world energy business. We to Jasper

discuss the we've let's Now delivered. results year-to-date Pursuit's and performance strong

The a Page revenue, demand impact third on inspiring of for fire we growth overall when that quarter year-to-date adjusting strong you For the XX, bit Jasper. in and growth performance Buy improving see strategy rates.Â So delivered revenue Page locations on with talk can on our XX% the unforgettable iconic attractions us Refresh, and X% increased for experiences, to and me combined XX. and proven improved drive relentless experience Build, about enables guest our focus visitation let little

grow dynamic increase XX% iconic attraction in recognized incremental revenue in growth drive performance Sky's Lagoon Our ticket In We're and We in on completed saw on signature year-to-date all August and capacity. its grew enhance great successful for is an we our When and revenue was our in experience our Jasper quarter, with effective year-over-year experience.Â I'm on we to Iceland. in example building demand by improved a premium that We saw this that XXXX, September visitors growth the exceeding a Sky revenue in attractions look an a price. ticket driven year-over-year really to ticket to experience guest surpassed pricing improvement has very prices. which experiences. XX%, that of attractions and guest completed with expectations. A of forward the this opportunity growth and to success. investments report meaningful attraction, and X% of very visitation pleased quickly our effective million immediate construction $XXX from ticket expansion XX% our in to that and XX% lift was adjusting to third remove of expand total a happy

our opened our visitation Additionally, March, FlyOver growth to continues contribute Chicago excellent attraction, to in and new reviews. receive which

also the temporarily which Page top repeat closed was Banff with legendary Jasper Iceland XX. year-over-year, levels. now higher In maintaining addition their hospitality deliver Pursuit's ADRs interpretive Park.Â So Lodging Banff which Jasper room in the mountain offering performance All history National can quarter, of Banff about we the continues and RevPAR Chicago grew attraction Gondola Same-store capturing of standout enjoy our to delivered out also in while to visitation year-to-date also next that room grew film, in I'll culture and growth by X% experiences to as a excluding outside our guests dining, geographies let's year-over-year. strong driven revenue. occupancy content. team, the elevated views, drive page to film phenomenal compelling call third as must-do revenue, X% on to switch incredible

Our look unrelenting compression pricing our our seasonal markets.Â Taking a and for EBITDA, and XX on Page travel EBITDA. power discuss our providing adjusted focus demand at adjusted enabled by on experiential great destinations, a guest perennial our in we'll look experience strength is

basis to lodging very and long-haul the of build, around in capacity XXXX is Rockies. hustled we're including the be Our were results public We're that Canadian at on team nearly flat increase deliver our to XXXX.Â We incredible expect also and Jasper Jasper's quarter EBITDA million company seeing EBITDA to despite $XX growth by experiences. experience attractions remain visitors a during rebound. getting year-over-year of prior strong to recovery visitation that costs, continues hold full stand-alone trade some during Pursuit's XXXX of site adjusted And wound in recovery world, collection earnings trade trends, of Full adjusted the guest enable X from in about Icefield of we markets EBITDA the of growth Town these rate $XXX properties to prior will pleased travel which natural back in expect destinations million of saw XXXX first of Canada Parkway did of impact. is town power travel our all report we the is expect in In normalized international to international have absorbing to prioritizing the stunning line run to and million strong with to continue $XX the combined our of will and down.Â In greater the sections after encouraging, the to attractions Lake our visitation wildfire to nearly us continued great full of the Natural pandemic, a the will cost Columbia a a across third focus half Jasper. visitation with an transition This fire. at by challenging factors, approximately expect of XXXX, operate than business the and to year the XX% maximizing with Maligne damaged adjusted were Icefield, Park. examples pretty beauty expected year year. the which year-to-date we impacted Jasper job The most disruption travel return see experiences, will Asia. level Jasper Long-haul of our supporting demonstrate with XXXX, the visitation quite sum in after that we and to Jasper the be consumer benefit costs closure at

As a X.X National reminder, acres Park's approximately were Jasper spared million XX% wildfires. from of the

park travelers strong remains for XXXX.Â Jasper we fire Canadian to XX% beautiful and So in overall the properties hotel expect for the to lodging of with bed itinerary inclusion base Rockies. travel important due about of and long-haul Jasper offline trade other demand an damage, explore our plenty visiting

will to scale buy. the acquisitions vigor, active So the strong Buy, triple at enabled annual a we our our that Page sale of Refresh to Refresh pipeline have pending for growth while strategy, pursue GES experiences move our transact to our And capacity financial let's growth an Buy investments. deal. strong to on us the with Build unlock Pursuit with realizing maintained meaningfully about our XX% build potential XXXX rate Build, and an update us returns through and will XX refresh, of XXXX organic on how knowing revenue iconic proven accelerate give investment right growth opportunities.Â We've compound a talk and now we'll we to that acquisition financial growth for foundation can and from

beautiful, Just beautiful closed land held Park just they're Apgar X to a above they're we beverage our accommodation units tuck-in merchandise EBITDA. Eddie's include Retreat's effective and X.Xx other approximately million visitors of adjacent on and Lookout existing as of the Lodge acquisition Glacier come Collection. inside Apgar National experiences XX park rare businesses anticipated McDonald. this $XX.X lodging well we that Cafe the food million National new Eddie's West in that Apgar and purchase steps acquired for high-end bordering can and a multiple located an Village our Glacier on is offer through is Glacier in and from explore Lookout believe Mercantile. achieve they are Glacier complement based are retail area. Eddie's Creek a to Park. Park, This Apgar and week, privately and all Retreat of positioned Retreat Apgar shore perfect we a great about the Village synergies, rooms The Lake brand our acquisition and Lookout the the Apgar X adjusted McDonald on to to piece step and

is minor Jasper underway. repairs agreement of remain seller investment fit is previously Jasper.Â The a Another impacts example closing tram the delayed with operational we great in today acquire as is been beautiful growth Jasper help this activity attraction that We announced buy an We committed close. towards to impacts expanding strongly and seasonality assess adding the are a interested The work the out some place, the our has strategic SkyTram. to diversify of Pursuit. insurance itself working various our an to wildfire our big, work our and to Collection with Banff for new diligently to efficient it and is are and collections We're in geographies wide. out will world a balance sort also aperture footprint. to and our that This is

$XXX Additionally, opportunities investments that identified and Lagoon insight I high-performing and and in much actionable importantly, approximately experience, specific XX earlier. total enhance the move We'll more we've make refresh these a we of organic represent execution. they build opportunities the geographies growth are about provide within our to can investment million.Â These our as improve like guest expansion properties into well-instrumented discussed Sky and into existing

ongoing set obsessive shareholder combination and on returns. a of on have an experience, sights through we delivering our focus acquisitions, investments, culture, So steady and growth opportunistic hospitality, and guest growth strong organic

big team bringing you I I thousands to every as for Pursuit best to conclude back members across just Steve, a my the of day. say thank remarks, to want So you. their

Steve Moster

Thanks, David.

for XX the growth. for has execution and extra and the strong the want GES clients expansion their up ensure the open provide that quick the business consistently by of transaction. success to energy want start we dedication our excellent a shareholders achieved to GES and I margin a for highlights Truelink sale call update for team the Capital. to successful sale drive and delivering thanking results on GES and to to Page to I Before team revenue that pending of the invested questions, financial

GES ownership. cost revenue services. experiences delivering set And for in executing X% the clients' for continue demand GES' under Truelink's to and an on and EBITDA success exhibitions see ongoing is of leverage with to XXXX.Â Our laser-focused position efforts have our double-digit and growth experiential We team GES marketing industry-leading our strong margin structure about transform up

on to track we're Page December on XX. complete of on sale noted the As XX, Truelink to GES

for the low help and future. cash, Refresh, to a a very Pursuit support. strategy. very in I and your for the to we're and the thanks can possible undrawn deliver to through been proven to to excess balance access for immediate Loan exciting debt our us revolver Pursuit. both sheet while excited be portfolio, B accelerate this reach call efforts to let's leverage, Spiro, an offering growth And The transaction reset prospects, cash management the growth fund growth, stand-alone with ready service excess shareholders, business greater growth gain executing. business near-term from to structure.Â We will The to will through execution unlock initiatives in a results Viad and give the Term proven acquisitions. fully members across chapter company company's sheet Pursuit fund accomplish Buy want huge best growth combination With put Pursuit Truelink's shareholder team It's and existing for transaction to what And firepower this value of all will renamed to pursuing high-cost extend and Pursuit high-return for to near this incredible Viad a invest Pursuit. about shareholders within us retire strategic continue soon the that, business and team Viad's a very high-growth, proceeds enhance to our flexibility our will Viad, strong a stronger for pivotal new revolver As and GES balance is capital GES, on journey, thank questions. continued their you Build, and next a allow as intend organically our milestone. pure-play This capital up open our to and

Operator

question from Your comes first Instructions] Tyler Batory. [Operator

Tyler Batory

a Vegas, Las you FlyOver little more you? that do ramp about engine the the big Pursuit growth the kind contributor picture, question on the a something overall you Chicago of actually of positive then you Chicago, entity? I little you as assets? platform in first bit more side EBITDA? to for And So when a of where new things. Is makes further bit look X that FlyOver in still still see point, at FlyOver it is we this mean, a those talk out, Is are think FlyOver my sense Can

David Barry

couple a of things. Tyler,

is Chicago track yes, well. So a and on positive doing

stabilizing performance. previous on a time experiences calls, I very to into look They but that out time in now. them, of long the getting the We're take business. right capital we a into on work to They lots all the proud They focus to tremendous of the optimum We've have. to we guest mentioned plan we build. on on, We're As them working ground. and businesses future, side location of iconic going future come we're have ratings. those to do FlyOver not got long as optimize take of to locations satisfaction deploying creating the

Tyler Batory

then gears Jasper, a And et that there. you lot tour things. interested if side cetera, I'm not think Perfect. incremental can any switching little Okay. travel I provide. the talk you gave I'm of about more bit details very to of a if anecdotes, helpful could there's you details, sure

towards next look visitation business? plans side having of provide changed that sure of out some might the recover long-haul you that towards of next they we not wildfires. back. given long-haul just the frame of possibility year Just with of interested in could on And numbers impact look that conversations any have you coming trying sure year, given I'm of their those to things. folks, in of what to When the is terms terms like that look And just there the I'm a details some all you're lost start some at XXXX, also I'm if when

David Barry

it we mean a I Yes. return as normal. to view

demand strong in world that and blip and We a have the a from we're as We right? that But guests of this on everything something experienced in Remember tour is We scale, very happened news. quickly evacuated this a our travel partners. immersed else. company, fires.

it note across other Jasper to with booked XX% don't So the main be centers the that you've coming important itineraries.Â As of see sits as I to my destination Canada, trade XXXX all anyone modeling year, is need Western if dropping from thing one guests is anticipates that's you've where on because XXXX overnight which a pivotal of in travel geographically encouraging. the you in got up Jasper mentioned between itineraries We our tourism. about remarks, initial revenue Jasper

got come So the have keys Jasper actually strong. now for XXX demand a bit tough little right XX% of is you've What's inventory. or out that is that

booked of tour to actually little might I anticipate of able They to there. demand. so actually it see and opposite see pacing quarter are the summer hotels we come. to Jasper, we that time That that be excited recover. mix want tour And to lessening had Jasper. 'XX. that we're we're to But see of demand away travel no tracking fill We a over where as reflects through ahead needs the work who now people those scrambling in their We be time overweight from stay travel partners first seeing itineraries.Â So our impact no the of in lodging, accommodate are to support

recovery. what in we're encouraged So we're of terms by seeing

Ellen Ingersoll

Tyler, if one might I more thing. add

Tyler Batory

ahead. Go

Ellen Ingersoll

down third bit 'XX from for quarter quarter like. year-over-year, what Jasper much probably Jasper years during you talk a third strongest how in But could million in us. wasn't dip the of earlier was give the during again, in recovery did we the of remarks, might about the revenue. Sorry, And sense revenue $XX of our about year-over-year was look a

Tyler Batory

I keep me, generic question I'll guidance. I mean, think for give asking more next can't you -- the guidance I'm because for I know year. for I it know last and maybe

a you stabilized margin, maybe Just will. margin trying the EBITDA to through EBITDA think and if

the could you in in some given know, but Pursuit. terms at EBITDA I past, think targets you don't per kind given like them call of what of had aspirations think be some, se, I

Pursuit talk just just the EBITDA could I please, So revisit to go you future? wanted if about see think and at in where margin we those, could

David Barry

without XX% we we're forward. for the mark process factoring work transition, working in the business through will and feel margin on on and that to we going that where the now be that we're XXXX. the about of Pursuit's And burden some company is enthusiastic as integrate anticipate things be going public good We but

Operator

comes with Maher B. next from company, The Bryan question Riley. the

Bryan Maher

Just for a couple me.

it to it relates you a XXX is assume couple should residents for safe rooms, those and full of place relative As construction that be to years? and mean pretty how lack to the crews next about and stay? close to running that quarters to the of I as cleanup displaced Jasper occupancy should we think prior

David Barry

think and have Brian. week. instance, going they to live during going some seasonality, workers then back I the and home And other coming as potentially weekends back example, to construction where for you're an on things

So removal it to important lumpy, of you XXXX next be Jasper that in rooms, have you a think summer given note what's you're little going but summer, to the think as significant to is, that market. compression have I will for very

Bryan Maher

making modeling, you're right, very nice to it's this that as relates it on clean so And Okay. separation XX/XX.

silly we quantify across completed there going Is in this where GES of stand-alone -and all is just the January going Are end then some the that the through spillover to of But the Xst. pursuit question, can into quarters? out And first assuming be it costs? you we're put be I'm starting fourth So year, do out a quarter? going the model they to transaction-related quarter? to

Ellen Ingersoll

'XX. be in will On the transaction-related costs the most of costs,

spill 'XX. into Some will of them over

to be IT. retention 'XX, to 'XX. going some going most costs transition the in awards in but costs We're have cash we're So have some will of for

Bryan Maher

ZIP about couple And how us you on it of it $X million? code can those be give Like that? it should numbers? $XX million? we a Is a million? thinking Is Is

Ellen Ingersoll

Right.

about come relating will the of was So the million. about we out what transaction $XX proceeds costs talked that to

Bryan Maher

safe in And something lines? maybe first, is million and the $X fourth $XX along do to it the those in million

Ellen Ingersoll

in about No, of to million million and $XX be million it then XXXX. another $X as year-end $X would

Bryan Maher

then Perfect. insurance from there. I to you're And money Jasper, pleased already Okay. hear was receiving that the proceeds

the to we on million million said total that you third P&L? $X.X date. $X in do and Where think I the find

Ellen Ingersoll

The came that in. proceeds

So some of offset it impairment. the is against

receivables. much we million -- now, our sheet? is on in $X.X million we how right So balance have the have $X.X --

nothing We that have balance hit any all There's had the currently. impairment. than you're on not the We on the proceeds. the had P&L the all and then impairment sheet. on that's recoveries the going balance that P&L. P&L But It's to Everything sheet. offset an other on we is see

BI item we as on recover P&L. that line see as forward, separate you'll going So a the

Bryan Maher

forward, Going first in starting I guess, quarter? quarter, the fourth

Ellen Ingersoll

Right. Starting proceeds break quarter, receive, the on in fourth we'll we any the that P&L. out

Operator

comes question Alex company, Craig-Hallum Capital next Your with Group. Fuhrman the from

Alex Fuhrman

a bit could seems just heard of of Lagoon demand you really no it demand we've kind to it a there's quarter describe location about that you maybe there? a quarter of Sky Sky year, to every like and results strong that the those being this demand. on opportunity us seems in of the kind the David, impressive that leverage different the what area space boutique us been expand like is in Can the sense capture property? from the And more strong of to all there. haven't and Is demand there for give what taking enough third to you're out build little do, hotel and if I measures you matter more there. was Lagoon. Really us wondering to potentially

at you how look Just to future? there more as go much could there the be wondering

David Barry

through be Sure. happy I'd to some stuff. walk you

to of done. on actually things right? Just we've a So to what couple reenter remember,

had the was it that from so salts a we all the it and experience, is throughput aspects the and and and Sky salt and guests between at continued is house sauna of realized called because the which scrub turning on, was cold were Suel, issues. which higher-end turf things the had whole and momentum as Lagoon, but we the So the experience building higher-end a steam shower issue, incredibly product different plunge popular, of we and throughput away

the solved problem the incredibly was house and whole the first we turf magnificent. larger beautiful, So just make to experience in

and improvements is just there's and of is so at instead are it's OpCo satisfaction ritual people allows our seeds beautiful you our really XX partners the there. we do with there's length guests, that Remember of levels to the of drives and And now visitation, product, of that to the Icelandic on. So encourage to an that sell work it it more staring drives guest who two. combination landowners higher-end partnership, which to facility.Â What that PropCo right, ocean, where sauna and a

there opportunities development, would So be goes may on. and consider consider, something we for we not time as are it might

continues opportunity what be to And fruition. we of so with and as work brand operational how brought have continue the design really to commitment really, efforts we're no to than But today be to expand other it opportunity have the to pleased might various the aspects there to product, it. envisioning on there

Alex Fuhrman

overnight in of to Rockies? Jasper the more dent I'm could seeing is more or really to rates? importantly, offline and that your guess, the a what lot Okay. up in and extent and drive if Golden? elsewhere Waterton region? then seeing Canadian terms for curious It like a world more even the Jasper impacting hotel are of that's how And Lakes I follow you for rest of shaping could booking the off-season the what And Rockies. competitors what like least guests few seems now here Are potentially which supply on handle, of if to Curious pretty have of the years. you I helpful. That's rooms people in in the up you're then of in just even new Curious a demand is BAM good at looking in

David Barry

I Well, happening recovery interesting is is the that very quickly. thing, Alex, think

X excited open do hotels hosting So it. are and in back X and guests of out to Jasper

few winter it will a busy Pyramid the and undergoing be Lake open Christmas but holidays, we season. have a anticipate Lodge repairs, for We

quarter the that doing Our for first the pacing well. season for is of part ski

So be adjust to we going have and market to keys think the we're going rebuilt. several demand, those for drive, pressure take work within we'll and that to to.Â It compression that's XXX years will obviously, continued to

how we're And for so what's do guests our provide and important partners, the needed improvements experiences that great we is tour we're to provide doing. make and on travel support the focused

year. last are rates up QX time Our this from

excited we and of we'll anticipate we're 'XX. that. through obviously, And growth through about continued beginning 'XX have the so summer that And rate

Alex Fuhrman

you Thank great. very That's much.

David Barry

to go And welcome. You're you to Iceland? need

Alex Fuhrman

Yes, for sure.

Operator

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

Steve Moster

All That concludes our right. today. call for

to much. in we business, your of you will the next our the thank very much talk quarter. Thanks at so you for end So and interest

Operator

That will participation, conclude for today's of conference call. your enjoy Thank day. your you the and rest

Viad (VVI) 7 Nov 242024 Q3 Earnings call transcript