Q4 2024 Pursuit Attractions and Hospitality Inc Earnings Call Transcript
Key Points
- Pursuit Attractions and Hospitality Inc (PRSU) completed the sale of GES for $535 million, transforming into a standalone, high-growth, high-margin attractions and hospitality leader.
- The company demonstrated strong operational execution in 2024, opening a new Flyover attraction in Chicago and expanding the Sky Lagoon in Iceland.
- Pursuit Attractions and Hospitality Inc (PRSU) completed three strategic tuck-in acquisitions, enhancing its presence in iconic locations like Glacier National Park and Jasper National Park.
- The company has a strong balance sheet with low leverage and a new $200 million undrawn revolver, positioning it well for future growth.
- Pursuit Attractions and Hospitality Inc (PRSU) expects double-digit growth in revenue and adjusted EBITDA in 2025, driven by the return of leisure travel to Jasper and strategic investments.
- The company reported a net loss from continuing operations of $57.1 million for the full year, including significant impairment charges related to Flyover Las Vegas.
- Pursuit Attractions and Hospitality Inc (PRSU) faced challenges with the slower-than-expected ramping of the Flyover collection, particularly at the Las Vegas location.
- The Jasper wildfire impacted revenue by approximately $23 million and adjusted EBITDA by $15 million in the second half of 2024.
- The company anticipates a $7 million EBITDA headwind in 2025 due to the weaker Canadian dollar affecting the translation of Canadian profits into US dollars.
- Pursuit Attractions and Hospitality Inc (PRSU) faces restructuring charges related to executive leadership transitions as it transforms from a holding company structure.
Good afternoon. My name is Tamia, and I will be your conference operator today. At this time, I would like to welcome everyone to Pursuit's 2024 fourth-quarter and full-year earnings conference call. (Operator Instructions)
Thank you. Carrie Long, you may begin the conference.
Good afternoon, and thank you for joining us for Pursuit's 2024 fourth-quarter and full-year earnings conference call. Our earnings presentation, which we will reference during the call, is available on the Investors section of our website. During the call, you'll hear from David Barry, our President and CEO; Ellen Ingersoll, our Chief Financial Officer; and Bo Heitz, who will be succeeding Ellen as our Chief Financial Officer once we have filed our 2024 Form 10-K.
Before I turn the call over to David, I would like to draw your attention to pages 2 and 3 of our presentation, which contain important disclosures regarding non-GAAP measures and forward-looking statements that we will provide
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