Pursuit Attractions And Hospitality, Inc. · NYSE:PRSU
Pursuit Attractions And Hospitality — Q4 2024 Earnings Presentation
24 slides from Pursuit Attractions And Hospitality's earnings presentation, Mar 11, 2025
Slide 1: Fourth Quarter and Full Year 2024 Earnings Presentation
FOURTH QUARTER AND FULL YEAR 2024 EARNINGS PRESENTATION MARCH 11, 2025
Slide 2: Disclaimer
DISCLAIMER This presentation contains a number of forward-looking ⁄ the impact of financial covenants on our operational and For a more complete discussion of the risks and uncertainties statements. Words, and variations of words, such as “will,” financial flexibility; that may affect our business o
Slide 3: Non-GAAP Financial Measures
NON-GAAP FINANCIAL MEASURES This document includes the presentation of “Adjusted EBITDA” (or “AEBITDA”) and “Adjusted Net Income (Loss)”, which are supplemental to results presented under accounting principles generally accepted in the United States of America (“GAAP”) and may not be comparable to s
Slide 4: Business & Financial Highlights
BUSINESS & FINANCIAL HIGHLIGHTS Completed GES sale, reset balance sheet, and 1 transformed into Pursuit Refresh, Build, Buy investments continue to drive 2 growth Delivered solid fourth quarter and full year 2024 3 performance 4 Guiding for strong growth in 2025 Jasper SkyTram Jasper National Park,
Slide 5: Business Highlights
BUSINESS HIGHLIGHTS 5
Slide 6: Viad Has Transformed into a High-Growth, High-Return Pure-Play Attractions and Hospitality Company
VIAD HAS TRANSFORMED INTO A HIGH-GROWTH, HIGH-RETURN PURE-PLAY ATTRACTIONS AND HOSPITALITY COMPANY ⁄ Divested GES, an exhibition and experiential marketing business, from Viad’s Pursuit attractions and hospitality business on December 31, 2024 ⁄ Proceeds1 were used to fully retire Viad’s existing $3
Slide 7: Has the Scale and Financial Foundation to Drive Sustainable Growth
HAS THE SCALE AND FINANCIAL FOUNDATION TO DRIVE SUSTAINABLE GROWTH $366M $77M 15 3 Revenue AEBITDA1 Sightseeing Countries in 2024 in 2024 Attractions $250M ~0x 28 ~4,000 Net Leverage Distinctive Team Liquidity2 at 12/31/24 Lodges Members3 1. AEBITDA = Adjusted EBITDA, which is inclusive of public co
Slide 8: Our Powerful Refresh, Build, Buy Strategy Delivers Significant Growth
OUR POWERFUL REFRESH, BUILD, BUY STRATEGY DELIVERS SIGNIFICANT GROWTH THROUGH ORGANIC AND INORGANIC OPPORTUNITIES Existing Experiences REVENUE ($ in millions) REFRESH Refreshing our existing assets and MORE THAN processes to optimize the guest and TRIPLED REVENUE $366 team member experience, market
Slide 9: Strategic Tuck-In Acquisitions Completed in Fourth Quarter 2024
PURSUIT 3 fourth STRATEGIC quarter TUCK-IN 2024 HIGHLIGHTS ACQUISITIONS COMPLETED IN FOURTH QUARTER 2024 EXPANDING OUR EXISTING COLLECTIONS AND UNLOCKING FUTURE GROWTH LEVERS IN ICONIC LOCATIONS WITH HIGH BARRIERS TO ENTRY AND PERENNIAL DEMAND 3 ACQUISITIONS $34M INVESTED +$5M-$7M AEBITDA IN 2025 ED
Slide 10: Meaningful Pipeline of Investment Opportunities to Fuel Continuous Growth
MEANINGFUL PIPELINE OF INVESTMENT OPPORTUNITIES PURSUIT fourth quarter 2024 HIGHLIGHTS TO FUEL CONTINUOUS GROWTH REFRESH & BUILD OPPORTUNITIES BUY EXPERIENCES 1 AT EXISTING HIGH-PERFORMING EXPERIENCES 2 IN NEW & EXISTING ICONIC LOCATIONS ORGANIC 2025 EST. ~$38M- LEVERAGE BALANCE OUT SEASONALITY $200
Slide 11: Financial Highlights
FINANCIAL HIGHLIGHTS 11
Slide 12: GES Transaction Resets Balance Sheet to Accelerate Growth
PURSUIT GES TRANSACTION fourth quarter RESETS 2024 BALANCE HIGHLIGHTS SHEET TO ACCELERATE GROWTH NET CASH PROCEEDS OPTIMIZED 12/31/24 RECEIVED AT CLOSING BALANCE SHEET BALANCE SHEET HIGHLIGHTS ($ in millions) ($ in millions) ESTABLISHED BALANCE SHEET Purchase Price 535 Cash and Cash Equivalents 49.7
Slide 13: 2024 FY Consolidated Financial Results
2024 FY CONSOLIDATED FINANCIAL RESULTS PURSUIT fourth quarter 2024 HIGHLIGHTS GES CLASSIFIED AS DISCONTINUED OPERATIONS ($ in millions) FY’24 Q4’24 Net Income Attributable $368.5 $315.7 to Pursuit Income from Primarily comprises a gain on sale of GES of $421.9M (pre-tax) and GES’ operational results
Slide 14: Pursuit Fourth Quarter 2024 Highlights
PURSUIT FOURTH fourth quarter QUARTER 20242024 HIGHLIGHTS HIGHLIGHTS Change ($ in millions) Q4’24 vs. Q4’23 Revenue: Excluding Jasper: Ticket Revenue $24.4 $4.7 ⁄ 15% Revenue Room Revenue 3.5 0.3 increase year-over- Food & Beverage 5.8 0.2 year excluding Retail Operations 2.7 0.2 Jasper properties T
Slide 15: Pursuit Full Year 2024 Highlights: Revenue & Adjusted EBITDA
PURSUIT FULL fourthYEAR quarter 20242024 HIGHLIGHTS HIGHLIGHTS REVENUE & ADJUSTED EBITDA ($ in millions) Revenue +5% ⁄ 14% Revenue increase year-over- $350.3 $366.5 year excluding Jasper 2H 42.3 Jasper properties in 65.6 2H -35% ⁄ Total Revenue increased 5% year- Kenai Fjords Tours All Other over-ye
Slide 16: Full Year 2024 Attraction Performance
PURSUIT FULL fourthYEAR quarter 20242024 ATTRACTION HIGHLIGHTS PERFORMANCE TICKET REVENUE ATTRACTION ($ in millions) METRICS Visitors (in thousands) ⁄ 13% ticket revenue growth with +13% +6% meaningful $162.4 improvement in 3,541 3,757 effective ticket $143.4 14.8 prices and Jasper 2H additional vis
Slide 17: Full Year 2024 Hospitality Performance
PURSUIT FULL fourthYEAR quarter 20242024 HOSPITALITY HIGHLIGHTS PERFORMANCE ROOM REVENUE HOSPITALITY ($ in millions) METRICS Same-Store1 RevPAR ⁄ 9% same-store +9% RevPAR growth $85.9 with strong increase $81.9 $153.60 in ADR $141.44 Jasper 2H -42% 22.3 13.0 ⁄ All geographies outside of Jasper deliv
Slide 18: Pursuit's Lodging Booking Pace Indicates Strong Demand
PURSUIT’S LODGING BOOKING PACE INDICATES STRONG DEMAND Lodging pacing is a leading indicator of destination demand and the strength in advanced bookings supports our favorable outlook for both our lodging and attractions CANADIAN LODGING US LODGING Room Revenue on the Books1 Room Revenue on the Book
Slide 19: Pursuit Is Positioned for Strong Profitable Growth in 2025
PURSUIT IS fourth POSITIONED quarter 2024 FOR HIGHLIGHTS STRONG PROFITABLE GROWTH IN 2025 EXPECT DOUBLE-DIGIT GROWTH IN REVENUE AND ADJUSTED EBITDA CONSOLIDATED ADJUSTED EBITDA1 KEY DRIVERS ($ in millions) ⁄ Jasper leisure travel recovery ⁄ Canadian results translated to US dollars at +27%-40% $98 -
Slide 20: Appendix
FSS PURSU,.T
Slide 21: Pursuit 2025 Financial Outlook
PURSUIT 2025 fourth FINANCIAL quarter 2024 OUTLOOK HIGHLIGHTS ($ in millions) FY’25 GUIDANCE FY’24 ACTUALS Up low-double digits Revenue $366.5 vs. 2024 Consolidated AEBITDA $98 to $108 $77.1 $29 to $34 Maintenance Capex $36.1 (7-8% of Revenue) Growth Capex $38 to $43 $20.2 Total Capex $70 to $75 $56
Slide 22: Pursuit Disaggregation of Revenue
PURSUIT DISAGGREGATION PURSUIT fourth quarter 2024 OFHIGHLIGHTS REVENUE 2023 2024 Q1 Q2 Q3 Q4 FY Q1 Q2 Q3 Q4 FY (in thousands) Ticket Revenue $ 14,261 $ 36,543 $ 71,741 $ 20,817 $ 143,362 $ 17,805 $ 43,707 $ 75,330 $ 25,535 $ 162,377 Rooms Revenue 7,590 22,106 48,674 7,572 85,942 7,604 24,578 42,020
Slide 23: Pursuit Key Performance Metrics
PURSUIT KEY PURSUIT fourth quarter 2024 METRICS PERFORMANCE HIGHLIGHTS 2023 2024 Q1 Q2 Q3 Q4 FY Q1 Q2 Q3 Q4 FY As Reported Attractions KPIs: Number of Visitors 409,136 914,317 1,668,203 548,990 3,540,646 451,808 1,054,378 1,624,384 626,894 3,757,464 Effective Ticket Price $ 34.86 $ 39.97 $ 43.01 $ 3
Slide 24: Non-GAAP Financial Reconciliation
NON-GAAP FINANCIAL RECONCILIATION PURSUIT CONSOLIDATED (000's) Q4'23 Q4'24 FY'23 FY'24 Net income (loss) attributable to Pursuit (15,346) 315,735 16,017 368,544 Net income (loss) attributable to noncontrolling interest (385) (1,505) 7,836 6,557 Net loss attributable to redeemable noncontrolling inte
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