Welcome to our dedicated page for Viad news (Ticker: VVI), a resource for investors and traders seeking the latest updates and insights on Viad stock.
Overview
Viad Corp (NYSE: VVI) is a diversified services company that has established a strong foothold in the realm of experiential marketing, event production, and attractions. As a key player within the S&P SmallCap 600 index, Viad has built an evergreen portfolio of high-quality, place-based marketing efforts and travel and recreation services. The company is known for creating immersive and engaging experiences that connect brands with audiences across various geographical regions, including North America, the United Kingdom, Europe, and the United Arab Emirates. Its comprehensive operating model combines creative innovation, strategic execution, and operational excellence in every service it provides.
Core Business Areas
Viad Corp operates through two distinct yet synergistic business segments. The first segment focuses on experiential marketing and event production. Through its exhibition services, the company empowers clients to orchestrate transformative live events that engage diverse audiences. This division leverages its extensive expertise in creative design, logistics, and strategy, enabling it to offer comprehensive support to associations, corporate marketers, and brands seeking to enhance their visibility and outreach.
The second segment centers on attractions and hospitality, where Viad provides travel and recreation services designed to connect people with iconic destinations. This division specializes in managing and operating attractions that capture the imagination and provide memorable insights into natural and cultural landmarks. By integrating local flavor with a global perspective, Viad creates tailored experiences that resonate with both domestic and international visitors.
Operational Footprint and Global Reach
Viad Corp has successfully expanded its operational reach across multiple continents. In North America, it maintains a robust network that supports travel, recreation, and event-based experiences. Its presence in the United Kingdom and Europe demonstrates a commitment to offering high-quality marketing services and live event production on internationally recognized platforms. The company's operations in the United Arab Emirates further solidify its global positioning, offering a gateway to dynamic markets that prize innovative brand activations and experiential marketing solutions.
This extensive geographical footprint allows Viad to tap into diverse markets, tailoring services to meet region-specific needs while ensuring consistently high standards across its portfolio of companies.
Innovative Integration of Services
Central to Viad's enduring success is its ability to integrate a variety of complementary services within a unified operational framework. By blending traditional event production with modern creative design and innovative logistics planning, the company is uniquely positioned to deliver holistic experiences. Clients benefit from a seamless service experience, whether they require large-scale live events, trade shows, or immersive hospitality adventures. The integration of technology in creative design and event management further enhances the execution of projects, ensuring responsiveness and operational efficiency.
The company's approach to service integration is rooted in its commitment to quality and innovation. By investing in creative excellence and operational synergy, Viad continues to redefine the experiential marketing landscape, offering solutions that are not only effective but also memorable.
Competitive Landscape and Market Differentiation
Viad operates in a highly competitive environment where differentiation is key. Its diversified service offerings across both experiential marketing and attractions distinguish it from competitors that may focus solely on one area. The company's dual-segment strategy provides a unique advantage, as it can leverage cross-segment insights to optimize service delivery and operational execution. This strategic positioning is supported by a robust organizational structure that prioritizes long-lasting relationships with clients and partners alike.
Quality, innovation, and reliability are the hallmarks of Viad's approach. In an industry where client expectations continually evolve, the company has built its reputation on the consistency and excellence of its offerings. This emphasis on enduring quality rather than time-sensitive achievements ensures that Viad remains a trustworthy benchmark for experiential marketing and live event production.
Client-Centric Approach and Industry Expertise
At the core of Viad's operational philosophy is a steadfast commitment to its clients. The company works closely with corporate clients, associations, exhibitors, and independent organizers to create bespoke solutions tailored to diverse needs. This client-centric approach is reflected in every aspect of its service offerings—from strategic planning and creative ideation to the detailed logistics of event production and the immersive experiences offered by its attractions division.
Viad's expertise is built on decades of industry experience, which has enabled it to understand the dynamic nature of contemporary marketing and event production. Industry-specific terminology such as "experiential marketing," "brand activation," and "live event production" are not mere buzzwords for Viad but are intrinsic components of its operational DNA. The company's ability to navigate complex market demands is a testament to its deep industry knowledge and operational resilience.
Service Quality and Operational Excellence
The company's operations are characterized by a meticulous attention to detail. Whether deploying creative strategies or managing logistical challenges, Viad ensures that every project is executed to the highest standard. This emphasis on quality has fostered enduring partnerships with clients and collaborators, creating a solid foundation for operational success. Viad's emphasis on consistently delivering extraordinary experiences is reflected in the detailed planning and expert management of every aspect of its service portfolio.
Moreover, the company's diversified service model allows it to mitigate risks inherent in any single market segment. By maintaining robust divisions across experiential marketing and attractions, Viad ensures that it remains resilient and adaptable in the face of evolving market trends.
Integration of Technology and Creative Solutions
Technology plays an increasingly critical role in the execution of live events and experiential marketing strategies. Viad has effectively harnessed technology to streamline operations and enhance client experiences. From creative design enhancements to advanced event production capabilities, the company incorporates state-of-the-art tools and methodologies into its service offering. This integration of technology not only improves operational efficiency but also provides clients with innovative ways to engage their target audiences.
The application of technology in both planning and execution further positions Viad as a forward-thinking organization that continuously adapts to the digital era, ensuring that its service offerings are as innovative as they are reliable.
Legacy, Brand Activation, and Market Impact
Viad Corp is a name synonymous with quality and innovation in the diversified services space. Its legacy is built on years of dedication to crafting exceptional experiences that bridge traditional marketing with modern, experiential methods. The company has carved out a niche where creativity meets operational excellence, leaving a significant imprint on the industries it serves. Clients across various sectors—from healthcare and aerospace to retail and technology—rely on Viad's comprehensive and nuanced solutions to enhance their market presence and activate their brands effectively.
By delivering end-to-end support in brand activation and event production, Viad has established itself as a valuable resource for companies seeking to connect with audiences in tangible and impactful ways. Its operational philosophy of integrating creativity with practical execution serves as a model for best practices in the industry.
Conclusion
In summary, Viad Corp stands as a diversified services company with a profound impact on the fields of experiential marketing, live event production, and attractions. Its dual business segments offer a well-rounded portfolio that caters to a broad spectrum of client needs, ensuring that every experience is both innovative and memorable. With a global footprint and a commitment to quality, Viad continues to provide enduring value by creating extraordinary experiences that resonate with diverse audiences. The company's expertise, solid market positioning, and integrated service approach make it a noteworthy subject of study for investors and industry analysts keen on understanding the dynamics of modern experiential service providers.
Pursuit (NYSE: PRSU) has announced the appointment of Cathy Tang as Chief Legal Officer and Corporate Secretary, effective March 24, 2025. Tang joins from Krispy Kreme, where she served as Senior VP, Chief Legal Officer, and Corporate Secretary, playing a key role in their 2021 IPO.
Tang brings over two decades of experience from Yum! Brands, where she held senior positions including Global Chief Branding Counsel and Chief Legal Officer of KFC U.S. In her new role at Pursuit, she will lead the company's legal strategy, including corporate governance, acquisitions, compliance, and labor matters.
Pursuit operates 15 world-class point-of-interest attractions and 28 distinctive lodges with integrated restaurants, retail, and transportation services across the United States, Canada, and Iceland.
Pursuit (NYSE: PRSU) reported its Q4 and full-year 2024 results following its transformation into a pure-play attractions and hospitality company after selling GES for $535 million. The company achieved full-year revenue of $366.5 million, up 4.6% year-over-year, despite challenges from the Jasper wildfire.
Key financial highlights include:
- Net income of $368.5 million, largely due to $421.9 million pre-tax gain from GES sale
- Adjusted EBITDA of $77.1 million
- Strong balance sheet with $49.7 million cash and near-zero net leverage
- New $200 million undrawn revolving credit facility
The company completed three strategic acquisitions for $34 million in 2024 and opened new attractions including Flyover Chicago. For 2025, Pursuit expects adjusted EBITDA of $98-108 million, representing substantial growth of $21-31 million compared to 2024.
Pursuit Attractions and Hospitality (NYSE: PRSU) has rescheduled its fourth quarter and full year 2024 earnings release to March 11, 2025, after market close. The company will host a conference call at 5 p.m. Eastern Time on the same day.
The delay in earnings release is attributed to the need for additional time to complete discontinued operations accounting procedures for GES, which was divested on December 31, 2024.
The earnings call will be accessible through a live audio webcast in the company's website's 'Events & Presentations' section, where the earnings press release and presentation will be posted. Participants can also join via phone or pre-register to avoid wait times.
Pursuit (NYSE: PRSU) and other leading tourism companies have collectively pledged over $5.5 million to support Jasper's recovery from last summer's wildfires and promote sustainable tourism growth. The initiative includes $3 million from Pursuit, $1.5 million from Fairmont Jasper Park Lodge, $1 million from Rocky Mountaineer, and approximately $300,000 from Jasper Brewing and Maligne Range.
The funds will be managed through trusted community organizations including the Banff Community Foundation and Jasper Community Team Society, focusing on high-impact recovery projects, local businesses, and community programs. The initiative aims to strengthen Jasper's position as a premier travel destination and support the community's long-term prosperity.
Pursuit Attractions and Hospitality (NYSE: PRSU) has scheduled its Q4 and full-year 2024 earnings release for Tuesday, March 4, 2025, after market close. The company will host a conference call at 5 p.m. Eastern Time on the same day to discuss financial results and provide business updates.
The earnings call will be accessible through multiple channels: a live audio webcast in the 'Events & Presentations' section of their website, or by phone at (404) 975-4839 or (833) 470-1428 with access code 328134. To avoid wait times, participants can pre-register through a provided link. The earnings press release and presentation will be available on the website before the call, and a replay will be accessible both online and via phone using access code 131587.
Truelink Capital has completed the acquisition of GES from Viad Corp (VVI), establishing GES as an independent company. GES, a 90-year-old global leader in exhibition and event solutions, will continue under the leadership of Derek Linde as President & CEO. The company employs over 2,600 team members across North America, Europe, and Asia, providing comprehensive services in strategy, creative design, logistics, and event production.
The company serves various industries including healthcare, aerospace & defense, automotive, technology, and retail, offering support for both live and virtual events. This marks Truelink Capital's sixth acquisition, though financial terms were not disclosed.
Viad Corp (NYSE: VVI) has completed the sale of its GES business to Truelink Capital for $535 million and will relaunch as Pursuit Attractions and Hospitality, Inc. The company will begin trading under the new NYSE ticker PRSU on January 2, 2025. The transaction proceeds were used to retire Viad's 2021 Credit Facility and provide excess cash for Pursuit's growth strategy.
The company completed the mandatory conversion of its 5.5% Convertible Series A Preferred Stock into approximately 6.7 million common shares, bringing the total outstanding shares to 28 million. David Barry, previously President of Viad's Pursuit business, has assumed the role of President and CEO, while the Board of Directors has been reduced to seven members.
Pursuit operates 14 attractions and 28 lodges across the United States, Canada, and Iceland, focusing on delivering experiences in iconic destinations.
Viad Corp (NYSE: VVI) will change its corporate name to Pursuit Attractions and Hospitality, effective December 31, 2024. The company will begin trading under a new NYSE ticker, PRSU, starting January 2, 2025. This follows the previously announced sale of Viad’s GES business, expected to close on December 31, 2024. Post-transaction, Pursuit will operate as a standalone, publicly traded company focused on the leisure and hospitality sector, delivering experiences in iconic destinations. The company aims to leverage its financial flexibility and balance sheet capacity to accelerate its growth strategy, dubbed Refresh, Build, Buy. The ticker symbol change requires no action from shareholders.
Viad Corp (NYSE: VVI) announced Michael 'Bo' Heitz will become Chief Financial Officer in March 2025, succeeding Ellen Ingersoll who has served as CFO since 2002. Heitz joined the company on December 16, 2024, and will be based in Pursuit's Denver office. This transition aligns with Viad's transformation as Pursuit prepares to become a standalone public company following the sale of its GES business, expected to close on December 31, 2024.
Heitz brings a decade of experience from Vail Resorts, where he most recently served as Vice President of Corporate and Mountain Finance. Upon completion of the GES sale, Viad will rebrand as Pursuit and change its NYSE ticker to PRSU, positioning itself as an independent, high-growth company focused on attractions and hospitality.
Viad Corp (NYSE: VVI) announced the mandatory conversion of its 5.5% Convertible Series A Preferred Stock after achieving the required stock price threshold of $42.50 for 20 out of 30 consecutive trading days. On December 31, 2024, all 135,000 preferred shares will convert to approximately 6.7 million common shares, eliminating annual dividend payments of $8 million.
The company currently has about 21.3 million common shares outstanding. This conversion simplifies Viad's capital structure as it prepares for the previously announced sale of its GES business. Following this transaction, the company will rebrand as Pursuit, change its ticker to PRSU, and operate as a standalone public company focused on attractions and hospitality.
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