Pursuit Attractions And Hospitality, Inc. · NYSE:PRSU
Pursuit Attractions And Hospitality — Investor Presentation (April 2026)
55 slides from Pursuit Attractions And Hospitality's investor presentation, April 2026
Slide 1: Investor Presentation April 2026
INVESTOR PRESENTATION APRIL 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) and Adjusted EBITDA Margin (or AEBITDA Margin), which are intended to supplement results presented under accounting principles generally accepted in the United States of America (“GAAP”) and may not b
Slide 4: Investment Highlights
INVESTMENT HIGHLIGHTS BEST-IN-CLASS OWNER AND OPERATOR OF ONE-OF-A-KIND EXPERIENTIAL INFRASTRUCTURE DIFFERENTIATED BUSINESS MODEL GENERATING SUSTAINABLE CASH FLOW 10-YEAR PROVEN TRACK RECORD EXECUTING GROWTH STRATEGY AND DRIVING STRONG RETURNS POSITIONED TO GROW ADJUSTED EBITDA >2.3X BY 2030 SUPPORT
Slide 5: Pursuit Is in a Category of One, Positioned for Strong Sustainable Growth
PURSUIT IS IN A CATEGORY OF ONE, POSITIONED FOR STRONG SUSTAINABLE GROWTH IRREPLACEABLE POWERFUL EXPERIENCES AT SCALE GROWTH ENGINE QUADRUPLED REVENUE SIGHTSEEING AT 15% CAGR from 2015 to 2025 ATTRACTIONS 2015 20251 DISTINCTIVE LODGES $112M $452M Revenue Revenue INTEGRATED F&B, RETAIL, & TRANSPORTAT
Slide 6: Iconic Point of Interest Sightseeing Attractions
ICONIC POINT OF INTEREST SIGHTSEEING ATTRACTIONS PURSUIT fourth quarter 2024 HIGHLIGHTS WITH SPECTACULAR VIEWS AND MEANINGFUL VISITATION Our attractions are “must do” experiences in remarkable places with robust demand and can be enjoyed by visitors of all ages and abilities 17 WORLD-CLASS ATTRACTIO
Slide 7: Distinctive Lodges in Capacity Constrained Iconic Locations
DISTINCTIVE LODGES IN CAPACITY CONSTRAINED ICONIC LOCATIONS PURSUIT fourth quarter 2024 HIGHLIGHTS WITH UNFORGETTABLE EXPERIENCES Our lodges benefit from the strong perennial demand for our experiential travel destinations, our continued focus on providing great guest experiences, and seasonal compr
Slide 8: Integrated Food & Beverage, Retail, and Transportation
INTEGRATED FOOD & BEVERAGE, RETAIL, AND TRANSPORTATION PURSUIT fourth quarter 2024 HIGHLIGHTS WITHIN COLLECTIONS OF EXPERIENCES 59 DINING 54 RETAIL 5 SIGHTSEEING TOURS AND EXPERIENCES STORES TRANSPORTATION OFFERINGS 8
Slide 9: The Guest Journey Through Our Collection of Experiences
THE GUEST JOURNEY THROUGH OUR COLLECTION OF EXPERIENCES OUR GUEST OUR MARKETING BANFF JASPER COLLECTION STRATEGY GUEST JOURNEY ANYONE THAT ENJOYS A BEAUTIFUL VIEW SURF PERENNIAL DEMAND Our experiences appeal to Surf perennial destination demand and position our experiences as anyone that is visiting
Slide 10: Strategically Manage Lodging Room Inventory
STRATEGICALLY MANAGE LODGING ROOM INVENTORY PURSUIT fourth quarter 2024 HIGHLIGHTS IN MARKETS WITH FINITE BED BASE TO MAXIMIZE REVENUE We have a proven track record of closely managing lodging room inventory through sales channels to maximize both capacity and rate FY’25 LODGING REVENUE ONLINE TRAVE
Slide 11: Leader in Experiential Travel with Global Recognition
LEADER IN EXPERIENTIAL TRAVEL WITH UNFORGETTABLE, QUALITY GUEST EXPERIENCES THAT CAPTURE GLOBAL RECOGNITION 2026 USA TODAY The New York Times spotlights Banff Gondola and Sky Bistro as 10Best Readers’ must-experience highlights in its “36 Hours in Banff…,” placing our Choice Awards offerings at the
Slide 12: First Year as Standalone Iconic Attractions and Hospitality Company
FIRST YEAR AS STANDALONE ICONIC ATTRACTIONS AND HOSPITALITY COMPANY We have been executing a TRANSFORMATIVE GROWTH journey, having quadrupled the business over the past decade On January 1, 2025, Pursuit launched as a COMPELLING, STAND-ALONE INVESTMENT opportunity with a strong balance sheet and mul
Slide 13: Record Full Year Results in 2025
PURSUIT DELIVERED RECORD FULL YEAR RESULTS IN 2025, FIRST YEAR AS STANDALONE ICONIC ATTRACTIONS AND HOSPITALITY COMPANY SIGNIFICANT REVENUE STRONG TEAM AND GUEST AND AEBITDA GROWTH EXPERIENCES ⁄ Increases in guest scores, while $452M +23% maintaining high team member FY’25 Revenue vs. Prior Year eng
Slide 14: Continued Strategic Progress to Enhance Long-Term Growth Profile
CONTINUED STRATEGIC PROGRESS TO ENHANCE OUR LONG-TERM GROWTH PROFILE AND SHAREHOLDER VALUE JAN 2025 JUL 2025 SEP AND DEC 2025 SPRING 2026 (EST) TRANSFORMATIVE PLATFORM ACQUISITION MINORITY PURCHASES AT SALE OF NON-CORE ASSET PURSUIT LAUNCH IN NEW GEOGRAPHY FAVORABLE VALUATIONS AT PREMIUM VALUATION ⁄
Slide 15: Well-Positioned with Favorable Global Experiential Travel Trends
PURSUIT EXPERIENCES ARE WELL-POSITIONED FOR CONTINUED GROWTH WITH FAVORABLE GLOBAL EXPERIENTIAL TRAVEL TRENDS INTERNATIONAL TOURISM EXPECTED TO GROW 3% TO 4% YOY IN 20261, WITH A 5% INCREASE IN TOTAL GROSS BOOKINGS2 INCREASED TRAVEL, AIRLINE STRONG DEMAND FOR PRIORITIZATION OF PASSENGER COUNTS, AND
Slide 16: Pursuit's Differentiated Model and Strategic Positioning
PURSUIT’S DIFFERENTIATED MODEL AND STRATEGIC POSITIONING EXPERIENTIAL Unique-in-the-world, long-term experiential infrastructure that INFRASTRUCTURE connects guests with iconic destinations; not a tourism bet DEMAND ANCHORED Perennial guest demand driven by destination pull, not consumer TO DESTINAT
Slide 17: Compounding Growth Engine
COMPOUNDING GROWTH ENGINE: LEVERAGING VOLUME, YIELD, AND FLOW-THROUGH TO REINVEST AND SCALE DELIVER EXCEPTIONAL GUEST AND TEAM MEMBER EXPERIENCES WITH DIFFERENTIATED CULTURE STRENGTHEN GROW REVENUE DESTINATION THROUGH CAPTURE AND VOLUME AND GUEST ENGAGEMENT YIELD INCREASES We reinvest across organic
Slide 18: Multiple Levers to Drive Shareholder Value
MULTIPLE LEVERS TO DRIVE SHAREHOLDER VALUE SUPPORTED BY STRONG TRACK RECORD & BALANCE SHEET CONTINUOUSLY ELEVATING 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 19: Strong Balance Sheet with Substantial Investment Capacity
STRONG BALANCE SHEET WITH SUBSTANTIAL INVESTMENT CAPACITY FOR ACCELERATED GROWTH AND OPPORTUNISTIC SHARE REPURCHASES ROBUST LIQUIDITY Flyover sale $238M + + Continued proceeds expected Adjusted EBITDA Liquidity1 in Spring 2026 at 12/31/25 ~$78.4M purchase price3 growth LOW NET LEVERAGE 1.0x 2.0x-3.5
Slide 20: Transformational Growth Journey: Revenue Growth
WE ARE ON A TRANSFORMATIONAL GROWTH JOURNEY TO BECOME THE WORLD’S LEADING ICONIC ATTRACTIONS AND HOSPITALITY COMPANY REVENUE GROWTH Excluding Flyover ($ in millions) EXPECT CONTINUED >$845 DOUBLE-DIGIT CAGR We are driving THROUGH 2030 significant growth through enhanced performance of $414 existing
Slide 21: Path to Grow AEBITDA More Than 2.3x by 2030
OUR PATH TO GROW AEBITDA MORE THAN 2.3X BY 2030, WITH POWERFUL LEVERS TO DRIVE SHAREHOLDER VALUE AEBITDA GROWTH KEY LEVERS TO GROW SHAREHOLDER VALUE Excluding Flyover ($ in millions) EXPECT TO GROW Baseline Growth: Leveraging scale and operational AEBITDA MORE THAN expertise to grow existing busines
Slide 22: Significant Pipeline to Drive Accelerated Growth
SIGNIFICANT PIPELINE TO DRIVE ACCELERATED GROWTH INTO THE FUTURE ORGANIC GROWTH INVESTMENTS STRATEGIC $300M+ <7X ACQUISITIONS ROBUST GROWTH INVESTMENTS IN 2026-2030 EST. ADJUSTED PIPELINE OF IN DEVELOPMENT AND EBITDA MULTIPLE ICONIC LOCATION SUBJECT TO APPROVALS1 BY 20301 EXPERIENCES ACTIONING SERIE
Slide 23: Positioned for Strong Profitable Growth in 2026
PURSUIT IS fourth POSITIONED quarter 2024 FOR HIGHLIGHTS STRONG PROFITABLE GROWTH IN 2026 EXCLUDING FLYOVER, EXPECT DOUBLE DIGIT GROWTH YOY IN REVENUE AND AEBITDA AT MID-POINT, WITH MARGIN IMPROVEMENT ADJUSTED EBITDA1, 2 KEY YEAR-OVER-YEAR GROWTH DRIVERS ($ in millions) ⁄ Continued strong consumer d
Slide 24: 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 25: Favorable Demand Backdrop Heading into 2026
FAVORABLE DEMAND BACKDROP HEADING INTO 2026 STRONG SECULAR TRENDS FAVORABLE DEMAND FOR PURSUIT EXPERIENCES FOR PURSUIT GEOGRAPHIES Early season pacing Prioritization of unique experiences Power of perennial demand for with broad movement towards iconic destinations is strong, and Pursuit adventure t
Slide 26: 2026 Lodging Booking Pace Remains Strong
2026 LODGING BOOKING PACE1 REMAINS STRONG IN CANADA AND HAS ACCELERATED IN THE U.S. RELATIVE TO 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
Slide 27: Perennial Demand for Iconic, Supply-Constrained 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 28: Guest-Obsessed Hospitality, Experience Design, and Growth Mindset
OUR FOCUS ON GUEST-OBSESSED HOSPITALITY, EXPERIENCE DESIGN, AND PURSUIT fourth quarter 2024 HIGHLIGHTS GROWTH MINDSET SET US APART, AND MAKES OUR GROWTH SUSTAINABLE Our hospitality philosophy starts with team member satisfaction and engagement, which leads to enhanced guest satisfaction and loyalty,
Slide 29: Sustainable Yield Growth from Guest-Centric Experiences
SUSTAINABLE YIELD GROWTH FROM ONE-OF-A-KIND GUEST-CENTRIC PURSUIT fourth quarter 2024 HIGHLIGHTS EXPERIENCES IN ICONIC DESTINATIONS Our relentless focus on guest experience improvement and revenue maximization in capacity constrained iconic destinations with perennial demand allows us to drive incre
Slide 30: Disciplined Investment Strategy
DISCIPLINED INVESTMENT PURSUIT fourth STRATEGY quarter 2024 TO EFFECTIVELY SCALE HIGHLIGHTS AND MAXIMIZE SHAREHOLDER VALUE INVESTMENT CRITERIA INVEST IN FOREVER ONE-OF-A-KIND EXPERIENCES AND UNLOCK SUSTAINABLE LONG-TERM GROWTH 15%+ IRR HURDLE RATE ENHANCE & EXPAND BUY EXPERIENCES WORLD-CLASS IN NEW
Slide 31: Proven Track Record of Creating Value Over a Decade
PROVEN TRACK RECORD OF CREATING VALUE OVER A DECADE THROUGH ORGANIC AND ACQUISITION GROWTH INVESTMENT STRATEGY 16 MAJOR ORGANIC GROWTH INVESTMENTS STRATEGIC ACQUISITIONS GROWTH Elevating and expanding existing experiences Acquiring one-of-a-kind experiences INVESTMENTS COMPLETED 2014 - 20251 ~$578M
Slide 32: The Power of Collections
THE POWER OF COLLECTIONS PURSUIT fourth quarter 2024 HIGHLIGHTS OF ONE-OF-A-KIND EXPERIENCES IN ICONIC DESTINATIONS Pursuit drives incremental value when entering a new market, building a collection of attractions with vertically integrated hospitality, and leveraging the scale across multiple colle
Slide 33: Appendix
APPENDIX MODELING INFORMATION GROWTH INVESTMENT EXAMPLES & CASE STUDIES OTHER COMPANY INFORMATION 33
Slide 34: Modeling Information
MODELING INFORMATION 34
Slide 35: 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: >$265M ⁄ >2.3x increase in AEBITDA from 2025 (excluding Flyove
Slide 36: 2026 Financial Outlook
PURSUIT 2026 FINANCIAL fourth quarter OUTLOOK2024 HIGHLIGHTS ($ 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 37: Attractions and Hospitality Experiences Across 4 Countries
ATTRACTIONS AND HOSPITALITY EXPERIENCES IN ICONIC DESTINATIONS PURSUIT fourth quarter 2024 HIGHLIGHTS ACROSS 4 COUNTRIES PURSUIT 2025 REVENUE MIX ($452M TOTAL) 57% ATTRACTIONS AND 40% HOSPITALITY 2025 REVENUE BY MARKETS 2025 REVENUE BY LINE OF BUSINESS BANFF JASPER COLLECTION TICKET REVENUE 3% 8% 8
Slide 38: Supplemental Revenue Disclosures Detail
PURSUIT fourth quarter SUPPLEMENTAL REVENUE 2024 HIGHLIGHTS DISCLOSURES DETAIL 2024 2025 Q1 Q2 Q3 Q4 FY Q1 Q2 Q3 Q4 FY (in thousands) Ticket Revenue $ 17,805 $ 43,707 $ 75,330 $ 25,535 $ 162,377 $ 18,952 $ 53,200 $ 100,391 $ 28,110 $ 200,653 Rooms Revenue 7,604 24,578 42,020 7,719 81,920 7,339 25,95
Slide 39: 2025 Key Performance Indicators
PURSUIT 2025 KEY fourth quarter 2024 PERFORMANCE HIGHLIGHTS INDICATORS ATTRACTIONS (000’s) HOSPITALITY (000’s) 2025 KEY PERFORMANCE INDICATORS 2025 KEY PERFORMANCE INDICATORS As Reported Same-Store1 As Reported Same-Store1 Visitors 4,218 3,072 Room Nights Available 594 409 Effective Ticket Price $47
Slide 40: Key Performance Indicators Detail
PURSUIT KEY fourth quarter PERFORMANCE 2024 HIGHLIGHTS INDICATORS DETAIL 2024 2025 Q1 Q2 Q3 Q4 FY Q1 Q2 Q3 Q4 FY As Reported Attractions KPIs (000s): Number of Visitors 452 1,054 1,624 627 3,757 459 1,135 1,981 643 4,218 Effective Ticket Price $ 39.41 $ 41.45 $ 46.37 $ 40.73 $ 43.21 $ 41.25 $ 46.87
Slide 41: Seasonality
PURSUIT fourth quarter 2024 HIGHLIGHTS SEASONALITY Pursuit experiences peak activity during the summer months. During 2025, 79% of Pursuit’s revenue was earned in the second and third quarters. REVENUE BY QUARTER ($M) $241 $187 $182 $164 $117 $78 $88 $101 $57 $24 $33 $37 $38 $34 $42 $46 Q1 Q2 Q3 Q4
Slide 42: Non-GAAP Financial Reconciliation
NON-GAAP FINANCIAL RECONCILIATION ADJUSTED EBITDA (000's) FY'24 FY'25 Revenue 366,488 452,417 Net income attributable to Pursuit 368,544 22,668 Net income attributable to non-redeemable noncontrolling interest 6,557 13,641 Net loss attributable to redeemable noncontrolling interest (1,258) - (Income
Slide 43: Growth Investment Examples & Case Studies
GROWTH INVESTMENT EXAMPLES & CASE STUDIES 43
Slide 44: Experience Pursuit Growth Investments
PURSUIT fourth EXPERIENCE quarter 2024 HIGHLIGHTS PURSUIT We invite you to experience some of our inspiring organic and acquisition growth investments in person or through the video links below: ORGANIC GROWTH INVESTMENTS ACQUISITIONS BANFF GONDOLA SKY LAGOON TABACÓN GLACIER VIEW LODGE GLACIER VIEW
Slide 45: Organic Growth Investment Success Story: Banff Gondola
IMPROVING ONE-OF-A-KIND EXISTING EXPERIENCES ORGANIC GROWTH INVESTMENT SUCCESS STORY: BANFF GONDOLA BANFF GONDOLA UPPER TERMINAL Description Scenic ride to the summit of Sulphur Mountain with breathtaking views +12% Revenue CAGR Location Banff National Park Organic Growth Project ⁄ Increased capacit
Slide 46: Organic Growth Investment Success Story: Mount Royal Hotel
ELEVATING AUTHENTIC EXISTING EXPERIENCES ORGANIC GROWTH INVESTMENT SUCCESS STORY: MOUNT ROYAL HOTEL MOUNT ROYAL HOTEL Description 133-room year-round lodge located in +9% the heart of iconic Banff Avenue Room Revenue Location Banff National Park CAGR +120% Organic Growth ⁄ Reimagined and repositione
Slide 47: Organic Growth Investment Success Story: Columbia Icefield Skywalk
CREATING NEW UNFORGETTABLE EXPERIENCES ORGANIC GROWTH INVESTMENT SUCCESS STORY: COLUMBIA ICEFIELD SKYWALK COLUMBIA ICEFIELD SKYWALK Description 1,312-foot guided interpretive walkway with a 98-foot glass- floored observation area overlooking the Sunwapta Valley Location Jasper National Park Opening
Slide 48: Acquisition & Organic Growth Success Story: Maligne Lake Cruise
ACQUIRING IRREPLACEABLE EXPERIENCES & ENHANCING ACQUSITION & ORGANIC GROWTH INVESTMENT SUCCESS STORY: MALIGNE LAKE CRUISE MALIGNE LAKE CRUISE Description Interpretive boat tours, marina, F&B and retail services, historic chalet complex, +9% Revenue CAGR and boat house with rentals Location Acquisiti
Slide 49: Acquisition Success Story: Alaska Collection
ENTERING A NEW MARKET AND BUILDING A COLLECTION PURSUIT fourth quarter 2024 HIGHLIGHTS ACQUISITION SUCCESS STORY: ALASKA COLLECTION Pursuit has the hospitality experience and core capabilities to create vertically integrated collections in new geographies that enhance value and drive meaningful grow
Slide 50: Strong Performance Expected at Tabacón
STRONG PERFORMANCE EXPECTED AT TABACÓN A PRIME EXAMPLE OF ACQUISITION STRATEGY ⁄ Tabacón acquisition reflects our disciplined focus on high-quality, high-return growth investment opportunities ⁄ Iconic, irreplaceable attraction-focused experiences at the base of Costa Rica’s Arenal Volcano with excl
Slide 51: Other Company Information
OTHER COMPANY INFORMATION 51
Slide 52: Our Core Values
OUR MISSION To connect guests and staff to iconic places through unforgettable, inspiring experiences OUR PURPOSE Joy, Amplified OUR VISION To be the world’s leading provider of attraction and hospitality experiences OUR CORE VALUES SAFETY HONOR BRING ANTICIPATE FIRST PLACE YOUR BEST
Slide 53: Our Promise
OUR PROMISE ICONIC UNFORGETTABLE INSPIRING Places people Vivid moments that leave Experiences that become dream of visiting a lasting impression stories worth sharing 53
Slide 54: Distinctive Lodging in Renowned Global Travel Locations
DISTINCTIVE LODGING PURSUIT fourth quarter 2024 HIGHLIGHTS IN RENOWNED GLOBAL TRAVEL LOCATIONS 29 LODGES WITH 2,472 ROOMS IN ICONIC DESTINATIONS WITH OCCUPANCY COMPRESSION AND BARRIERS TO ENTRY BANFF | JASPER | WATERTON GLACIER DENALI | KENAI FJORDS Elk + Avenue Hotel 164 rooms Glacier Park Lodge* 1
Slide 55: Pursuit Markets Well-Positioned for Continued Growth
PURSUIT MARKETS ARE WELL-POSITIONED FOR CONTINUED GROWTH WITH PURSUIT fourth quarter 2024 HIGHLIGHTS FAVORABLE GEOGRAPHY DEMAND TRENDS POWER OF PERENNIAL DEMAND FOR ICONIC DESTINATIONS Canadian Banff Voted Best Removal of Anchorage air Costa Rica’s Government Place in the World vehicle service growt
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