Pursuit Attractions And Hospitality, Inc. · NYSE:PRSU
Pursuit Attractions And Hospitality — Q1 2026 Earnings Presentation
38 slides from Pursuit Attractions And Hospitality's earnings presentation, May 6, 2026
Slide 1: First Quarter 2026 Earnings Presentation
FIRST QUARTER 2026 EARNINGS PRESENTATION MAY 6, 2026
Slide 2: Disclaimer
DISCLAIMER This presentation contains a number of forward-looking ⁄ the impact of our borrowings, including our revolving credit For a more complete discussion of the risks and uncertainties statements. Words, and variations of words, such as “will,” facility, on our operational and financial flexib
Slide 3: Non-GAAP Financial Measures
NON-GAAP FINANCIAL MEASURES This document includes the presentation of Adjusted EBITDA (or AEBITDA), Adjusted EBITDA Margin (or AEBITDA Margin) and Adjusted Net Income (Loss), which are intended to supplement results presented under accounting principles generally accepted in the United States of Am
Slide 4: Business & Financial Highlights
BUSINESS & FINANCIAL HIGHLIGHTS +37% Record first quarter results with significant revenue and margin improvement, Q1 Revenue including strong performance from Tabacón Growth YOY +14% Strong booking pace for peak season underscores confidence in 2026 full year FY AEBITDA1 Growth YOY at Mid-Point (Ex
Slide 5: Business Highlights
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Slide 6: Pursuit Owns and Operates Iconic Experiences
PURSUIT OWNS AND OPERATES ICONIC, IRREPLACEABLE EXPERIENCES IN THE WORLD’S MOST BEAUTIFUL PLACES UNIQUE-IN-THE-WORLD, LONG-TERM EXPERIENTIAL INFRASTRUCTURE THAT CONNECTS GUESTS WITH ICONIC DESTINATIONS ONE-OF-A-KIND WORLD-CLASS EXPERIENCES IN REMARKABLE PLACES ACROSS 4 COUNTRIES 17 SIGHTSEEING CANAD
Slide 7: World-Class Point-of-Interest Sightseeing Attractions
WORLD-CLASS POINT-OF-INTEREST SIGHTSEEING ATTRACTIONS WITH SPECTACULAR VIEWS AND MEANINGFUL VISITATION EXPERIENTIAL INFRASTRUCTURE ATTRACTIONS GUESTS VISIT US TO EXPERIENCE ICONIC PLACES FROM UNFORGETTABLE VIEWPOINTS ⁄ Irreplaceable access to beautiful views in highly constrained locations ⁄ Anchors
Slide 8: Distinctive Lodges in Iconic Locations
DISTINCTIVE LODGES IN SUPPLY-CONSTRAINED, ICONIC LOCATIONS WITH UNFORGETTABLE EXPERIENCES DESTINATION-ANCHORED LODGING GUESTS STAY WITH US TO EXPLORE AND CONNECT WITH BEAUTIFUL PLACES ⁄ Located in iconic destinations with perennial demand ⁄ Unique supply dynamics in geographies with limited, restric
Slide 9: Pursuit Is in a Category of One
PURSUIT IS IN A CATEGORY OF ONE WE HAVE UNIQUE IN THE WORLD EXPERIENTIAL INFRASTRUCTURE WE ARE THE MUST-DO SIGHTSEEING ATTRACTIONS AND CONNECTED HOSPITALITY EXPERIENCES LOCATED IN ICONIC, SUPPLY-CONSTRAINED DESTINATIONS WITH PERENNIAL DEMAND We are not a theme park company. We are not a hotel compan
Slide 10: Perennial Demand for Iconic Destinations
PERENNIAL DEMAND FOR ICONIC, SUPPLY-CONSTRAINED DESTINATIONS PURSUIT fourth quarter 2024 HIGHLIGHTS THAT ENDURES BEYOND CONSUMER CYCLES Harnessing destination driven demand through strategic guest engagement during trip planning, not convincing guests to visit BANFF JASPER GLACIER PARK 6% ALASKA 8%
Slide 11: Attractions First, Vertically Integrated Operating Model
ATTRACTIONS FIRST, VERTICALLY INTEGRATED OPERATING MODEL THE POWER OF COLLECTIONS BANFF JASPER COLLECTION GUEST JOURNEY OF ONE-OF-A-KIND EXPERIENCES IN ICONIC DESTINATIONS ⁄ Attractions anchor demand and economics, driving visitation and strong ⁄ flow-through as scale builds Vertical integration dee
Slide 12: Aligned with Durable Global Travel Trends
ALIGNED WITH THE STRONGEST, MOST DURABLE GLOBAL TRAVEL TRENDS TRAVEL TRENDS WHY PURSUIT IS WELL POSITIONED ⁄ Own must-do, once-in-a-lifetime experiences in bucket-list Experiences Over Things destinations ⁄ Portfolio anchored in iconic natural destinations with scenic and Growth in Outdoor and Adven
Slide 13: Differentiated Culture and Hospitality Focus
DIFFERENTIATED CULTURE AND HOSPITALITY FOCUS PURSUIT fourth quarter 2024 HIGHLIGHTS POWER SUSTAINABLE GROWTH ENGAGED TEAMS THAT TURN GREAT EXPERIENCES INTO SUSTAINABLE GROWTH TEAM MEMBER ENGAGEMENT GUEST SATISFACTION STRONG PROFITABILITY & GROWTH ⁄ Engaged teams consistently ⁄ Hospitality mindset cr
Slide 14: Growth and Value Creation
GROWTH AND VALUE CREATION 14
Slide 15: Multiple Levers to Drive Shareholder Value
MULTIPLE LEVERS TO DRIVE SHAREHOLDER VALUE SUPPORTED BY STRONG TRACK RECORD & BALANCE SHEET CONTINUOUSLY ENHANCING ANNUAL PERFORMANCE 1 ACROSS ICONIC EXPERIENCES ⁄ Drive continuous year-over-year growth by leveraging strong perennial demand and maintaining an unwavering focus on the guest experience
Slide 16: Pursuit Is a Powerful Growth Engine
PURSUIT IS A POWERFUL GROWTH ENGINE WITH A DECADE OF COMPOUNDING EXECUTION TRANSFORMATIONAL EXPANSION ~4X REVENUE AND ~3X GUEST VOLUME from 2015 to 20251 DEMONSTRATED ABILITY REVENUE VISITORS ROOMS SOLD TO MEANINGFULLY SCALE ($ in millions) (in thousands) (in thousands) $452 4,218 2015 20251 439 ~15
Slide 17: Proven Growth Playbook
A PROVEN PURSUIT GROWTH fourth PLAYBOOK: quarter DISCIPLINED CAPITAL, 2024 HIGHLIGHTS CONSISTENT STRATEGY, AND A CLEAR PATH TO GROWTH 2014-2025 PROVEN TRACK RECORD 2026-2030 CONSISTENT PLAYBOOK ~6X EFFECTIVE AEBITDA MULTIPLE 1 <7X EFFECTIVE AEBITDA MULTIPLE 1 ⁄ $578M Major Organic Growth ⁄ $300M+ Or
Slide 18: Attraction Organic Growth Investments Underway
ATTRACTION ORGANIC PURSUIT fourth quarterGROWTH INVESTMENTS UNDERWAY TO DELIVER 2024 HIGHLIGHTS ELEVATED EXPERIENCES, MORE CAPACITY, AND STRONG RETURNS OUR INVESTMENTS IN ICONIC POINT-OF-INTEREST SIGHTSEEING ATTRACTIONS: Create a more Drive incremental demand and Establish our attractions compelling
Slide 19: Lodging Organic Growth Investments Underway
LODGING ORGANIC PURSUIT fourth GROWTH quarter 2024 INVESTMENTS HIGHLIGHTS UNDERWAY TO DELIVER ELEVATED EXPERIENCES, MORE CAPACITY, AND STRONG RETURNS OUR INVESTMENTS IN LARGE-SCALE LODGING RENOVATIONS REPOSITION OUR PROPERTIES TO: Deliver an elevated Drive outsized Generate strong returns on guest e
Slide 20: Tabacón: A High-Quality Acquisition
PURSUIT fourth TABACÓN: quarter 2024STRATEGIC A HIGH-QUALITY HIGHLIGHTS ACQUISITION CREATING VALUE ⁄ Disciplined, Strategic Acquisition: Tabacón exemplifies our focus on high-quality, high-return acquisition opportunities aligned with our experiential infrastructure strategy ⁄ Iconic, Irreplaceable
Slide 21: Strong Balance Sheet with Substantial Investment Capacity
STRONG BALANCE SHEET WITH SUBSTANTIAL INVESTMENT CAPACITY FOR ACCELERATED GROWTH AND OPPORTUNISTIC SHARE REPURCHASES ROBUST LIQUIDITY ~$250M Continued Pro Forma Liquidity1 at 3/31/26 + Adjusted EBITDA growth LOW NET LEVERAGE <1x 2.0x-3.5x Pro Forma Net Leverage2 at 3/31/26 < Target Net Leverage OPPO
Slide 22: 2030 Vision
2030 VISION: A DISCIPLINED STRATEGY TO COMPOUND GROWTH, EXPAND MARGINS, AND BUILD LONG-TERM SHAREHOLDER VALUE >$845M >$265M >30% 2030 Revenue AEBITDA AEBITDA Margin 2030 Target1 2030 Target1 2030 Target1 BUILT ON A DECADE OF EXECUTION, WE ARE CONFIDENT IN DELIVERING OUR NEXT PHASE OF GROWTH DURABLE
Slide 23: Financial Highlights & Outlook
FINANCIAL HIGHLIGHTS & OUTLOOK 23
Slide 24: First Quarter Financial Highlights
PURSUIT FIRST QUARTER fourth quarter 2026 FINANCIAL 2024 HIGHLIGHTS HIGHLIGHTS Change ($ in millions) Q1’26 vs. Q1’25 Revenue: ⁄ Total Revenue Ticket Revenue $23.1 $4.2 increased ~37% Room Revenue 13.1 5.8 primarily driven by strong Food & Beverage 8.5 2.4 performance at Tabacón Retail Operations 1.
Slide 25: First Quarter Attraction Performance
PURSUIT FIRST QUARTER fourth quarter 2026 ATTRACTION 2024 HIGHLIGHTS PERFORMANCE TICKET REVENUE ATTRACTION ($ in millions) METRICS Visitors ⁄ 22% growth in (in thousands) ticket revenue +22% +5% driven by Tabacón $23 482 (acquired July 2025) and 459 growth in same-store ETP $19 ⁄ 5% increase in Q1'2
Slide 26: First Quarter Hospitality Performance
PURSUIT FIRST QUARTER fourth quarter 2026 HOSPITALITY 2024 HIGHLIGHTS PERFORMANCE ROOM REVENUE HOSPITALITY ($ in millions) METRICS Same-Store1 RevPAR ⁄ 78% room +6% revenue +78% $13 growth primarily $74.55 $79.37 from strong performance at Tabacón (acquired July 2025) and Pyramid Q1'25 Q1'26 Lake Lo
Slide 27: 2026 Lodging Booking Pace Remains Strong
2026 LODGING BOOKING PACE1 REMAINS STRONG IN CANADA AND HAS ACCELERATED IN THE U.S. FROM FEBRUARY REPORTING Lodging pacing is a leading indicator of destination demand and the strength in advanced bookings supports our favorable outlook for both our lodging and attractions CANADIAN LODGING US LODGIN
Slide 28: Reaffirmed Guidance
PURSUIT fourth REAFFIRMED GUIDANCE quarter 2024 FOR HIGHLIGHTS STRONG PROFITABLE GROWTH IN 2026 EXCLUDING FLYOVER, EXPECT DOUBLE DIGIT GROWTH YOY IN REVENUE AND AEBITDA AT MID-POINT, WITH MARGIN IMPROVEMENT ADJUSTED EBITDA1, 2 KEY YEAR-OVER-YEAR GROWTH DRIVERS ($ in millions) ⁄ Continued strong cons
Slide 29: Appendix
APPENDIX 29
Slide 30: Transformational Growth Journey
WE ARE ON A TRANSFORMATIONAL GROWTH JOURNEY TO BECOME THE WORLD’S LEADING ICONIC ATTRACTIONS AND HOSPITALITY COMPANY REVENUE GROWTH Excluding Flyover ($ in millions) We are scaling EXPECT CONTINUED >$845 using the same DOUBLE-DIGIT CAGR proven playbook THROUGH 2030 that has delivered double-digit gr
Slide 31: Our Path to Grow AEBITDA by 2030
OUR PATH TO GROW AEBITDA MORE THAN 2.3X BY 2030, WITH POWERFUL LEVERS TO DRIVE SHAREHOLDER VALUE AEBITDA GROWTH KEY LEVERS TO GROW SHAREHOLDER VALUE Excluding Flyover ($ in millions) EXPECT TO GROW Baseline Growth: Leveraging scale and operational AEBITDA MORE THAN expertise to grow existing busines
Slide 32: Why We Will Be Successful
WHY WE WILL BE SUCCESSFUL Strength of secular trends and perennial demand for our iconic locations and experiential infrastructure assets Obsessive focus on team member and guest experience improvement Sustainable organic growth with multiple levers to drive yield and volume increases, and margin ex
Slide 33: Our View to 2030
PURSUIT OUR VIEWfourth quarter 2024 HIGHLIGHTS TO 2030 Revenue: >$845M ⁄ Double-digit revenue CAGR driven by strong demand trends, our focus on guest >15% CAGR from 2025 (excl. Flyover) experience, and growth investments Adjusted EBITDA: >$265M ⁄ >2.3x increase in AEBITDA from 2025 (excluding Flyove
Slide 34: 2026 Financial Outlook
PURSUIT 2026 FINANCIAL fourth quarter OUTLOOK2024 HIGHLIGHTS ($ in millions) FY’26 GUIDANCE2 FY’25 ACTUALS $465 at the mid-point $452.4 Revenue (including $8 from Flyover) ($413.8 excluding Flyover) $123 to $133 (including ~$0.5 $117.1 Adjusted EBITDA1 from Flyover) ($111.9 excluding Flyover) $31 to
Slide 35: Strong Balance Sheet for Accelerated Growth
STRONG BALANCE SHEET FOR ACCELERATED GROWTH WITH PURSUIT fourth quarter 2024 HIGHLIGHTS LOW LEVERAGE AND SIGNIFICANT REVOLVER CAPACITY FIRST QUARTER 2026 BALANCE SHEET AND LIQUIDITY HIGHLIGHTS BALANCE SHEET Q4’25 Q1’263 LIQUIDITY Q1’26 ($ in millions) ($ in millions) Cash and Cash Equivalents 31.1 3
Slide 36: Supplemental Revenue Detail
PURSUIT fourth quarter SUPPLEMENTAL REVENUE 2024 HIGHLIGHTS DISCLOSURES DETAIL 2025 2026 Q1 Q2 Q3 Q4 FY Q1 (in thousands) Ticket Revenue $ 18,952 $ 53,200 $ 100,390 $ 28,110 $ 200,653 $ 23,002 Rooms Revenue 7,339 25,952 59,677 12,123 105,091 13,090 Food and Beverage 6,123 17,324 35,868 9,099 68,414
Slide 37: Key Performance Indicators Detail
PURSUIT KEY PERFORMANCE [d_Category.Code] fourth quarter 2024 HIGHLIGHTS INDICATORS DETAIL [d_Scenario.Code] [Period.PeriodId] Base Currency [Period.PeriodEnd] As Reported KPI Table for Appendix 2025 2026 Q1 Q2 Q3 Q4 FY Q1 As Reported Attractions KPIs: Number of Visitors 459 1,135 1,981 643 4,218 48
Slide 38: Non-GAAP Financial Reconciliation
NON-GAAP FINANCIAL RECONCILIATION ADJUSTED EBITDA (000's) Q1'25 Q1'26 FY'25 Revenue 37,579 51,642 452,417 Net income (loss) attributable to Pursuit (31,136) (24,938) 22,668 Net income (loss) attributable to non-redeemable noncontrolling interest (216) 200 13,641 (Income) loss from discontinued opera
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