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.
Viad Corp (NYSE: VVI) has announced its leadership's participation in three upcoming investor conferences. President and CEO Steve Moster and President of Pursuit and Future CEO David Barry will attend the Deutsche Bank Gaming, Lodging, Leisure & Restaurants Conference on November 13, the Truist Securities Summit on December 12, and the KeyBanc Capital Markets Consumer Spotlight on December 13.
The company will post an updated investor presentation discussing its transformation into a standalone Pursuit business through the sale of its GES division, expected to complete by end-2024. Post-transformation, Viad plans to rebrand as Pursuit and change its ticker to PRSU, focusing on growth in attractions and hospitality.
Viad Corp (NYSE: VVI) reported strong Q3 2024 results with revenue of $455.7 million, up 24.5% year-over-year. Pursuit revenue decreased 2.5% to $182.3 million due to Jasper wildfire impacts, while GES revenue increased 52.8% to $273.4 million. Net income rose 17.8% to $48.6 million. The company completed a tuck-in acquisition in Glacier National Park and is on track to sell GES for $535 million by December 31, 2024. Full-year guidance was revised with GES expected to achieve Adjusted EBITDA of $90-95 million and Pursuit's Adjusted EBITDA projected at $87-92 million.
Truelink Capital has announced a definitive agreement to acquire GES, a leading global exhibition and event industry provider, from Viad Corp. The transaction is expected to close by the end of 2024, subject to customary conditions. GES, with over 90 years of experience, offers comprehensive services including strategy, creative design, logistics, and event production for live and virtual events across various industries.
Luke Myers, Co-Founder and Managing Partner of Truelink Capital, expressed enthusiasm for the acquisition, highlighting GES' leadership in the industry and potential for expansion. Post-acquisition, Derek Linde will assume the role of President & CEO of GES. The deal aims to enhance GES' tech-enabled offerings and explore global growth opportunities, particularly in the agency business through Spiro.
Financial advisors for the transaction included Baird and BrightTower for Truelink Capital, and Moelis & Company for Viad Corp. Kirkland & Ellis and Latham & Watkins LLP served as legal advisors for Truelink Capital and Viad Corp, respectively.
Viad Corp (NYSE: VVI) has announced a transformative deal to sell its GES business to Truelink Capital for $535 million. The transaction, expected to close by the end of 2024, will separate GES from Viad's Pursuit attractions and hospitality business. Upon completion, Viad plans to change its corporate name to Pursuit and its NYSE ticker symbol to PRSU, becoming a pure-play attractions and hospitality leader.
Pursuit, which delivered $350 million in revenue with a 26.4% Adjusted EBITDA margin in 2023, will focus on its collection of experiences in iconic destinations across the US, Canada, and Iceland. The company aims to accelerate growth through its Refresh, Build, Buy strategy, leveraging an improved balance sheet from the transaction proceeds.
David Barry, current President of Pursuit, will become CEO and President of the standalone public company post-closing. The deal is expected to enhance Pursuit's ability to allocate resources, pursue growth opportunities, and simplify its business model.
Viad Corp (NYSE: VVI), a global provider of extraordinary experiences, has announced its third quarter 2024 earnings call schedule. The teleconference will be held on Thursday, November 7, 2024, at 5 p.m. (Eastern Time). President and CEO Steve Moster, CFO Ellen Ingersoll, and Pursuit President David Barry will host the call to review Q3 2024 results with investors and analysts.
A press release outlining financial results and outlook will be issued and posted on www.viad.com prior to the call, along with an earnings presentation. Investors can access the call via operator assistance or pre-register to bypass wait times. A live audio webcast will be available in listen-only mode through the 'Investors' section of Viad's website, with a replay available shortly after the call.
The Columbia Icefield in Jasper National Park will reopen to visitors on Friday, August 9, following Parks Canada's announcement to lift precautionary road restrictions along the Icefield Parkway (Highway 93). This reopening allows access to the Columbia Icefield and nearby attractions via the southern end of the iconic roadway connecting Jasper and Banff national parks.
Visitors can experience the Columbia Icefield Adventure, stand on ancient ice, and enjoy panoramic views from the Columbia Icefield Skywalk. The Columbia Icefield Glacier Discovery Centre, housing Pursuit and Parks Canada experiences, will also reopen, including two signature restaurants and the Glacier View Lodge.
This reopening is part of a phased re-entry for Jasper National Park, with Parks Canada aiming to restore visitor services by September 3. Pursuit's COO, Stuart Back, expressed gratitude to firefighters, first responders, and Parks Canada for ensuring safety during the wildfires.
Viad Corp (NYSE: VVI) reported strong Q2 2024 results, exceeding prior guidance. Revenue increased 18.2% to $378.5 million, with Pursuit revenue up 14.4% and GES revenue up 19.6%. Net income attributable to Viad rose to $29.3 million, or $0.97 per diluted share. Adjusted EBITDA grew 50.1% to $64.3 million
However, recent wildfires in Jasper National Park have impacted Pursuit's operations, leading to uncertainty in the full-year outlook. GES's full-year Adjusted EBITDA guidance was raised by $5 million. The company expects Q3 2024 revenue between $418-$463 million and Adjusted EBITDA of $87-$105 million. Full-year revenue is projected to increase by high single digits.
Viad Corp (NYSE: VVI), a global provider of extraordinary experiences, will host a teleconference to discuss its Q2 2024 financial results. The call, led by CEO Steve Moster and CFO Ellen Ingersoll, is scheduled for August 6, 2024, at 5 p.m. Eastern Time. Pursuit President David Barry will also join the discussion. The press release and earnings presentation will be available on Viad's website ahead of the call. The conference can be accessed via phone or a live audio webcast, with replays available afterward.
Viad Corp (NYSE: VVI) announced the acquisition of Jasper SkyTram, a prominent attraction in Jasper National Park. The transaction, pending approval by Parks Canada, is expected to close in July, amounting to $25 million CAD (~$18 million USD). Jasper SkyTram, operating for 60 years, serves over 130,000 visitors annually and offers panoramic views from Whistlers Mountain at 2,263 meters (8,081 feet). Viad expects the acquisition to add $4 million in revenue in 2024 with an adjusted EBITDA margin that enhances Pursuit's overall margin. This deal includes a renewable long-term lease with nearly 30 years remaining, contributing to economies of scale and strong demand.
Viad Corp (NYSE: VVI) has announced the promotion of Derek P. Linde to President of GES, effective June 3, 2024. Linde, currently the Chief Operating Officer at Viad, has been pivotal in advancing strategic goals and driving revenue growth, profitability, and cash flow. He has played a key role in launching the Spiro experiential marketing agency and implementing margin initiatives within GES Exhibitions. Linde, who joined Viad in 2018, has a background in legal leadership roles at Illinois Tool Works and Winston & Strawn LLP. His new role aims to capitalize on GES's global reach and growth opportunities.
FAQ
What is the current stock price of Viad (VVI)?
What is the market cap of Viad (VVI)?
What is Viad Corp's core business model?
Which regions does Viad Corp serve?
What are the primary business segments of Viad Corp?
How does Viad generate revenue?
Who are the typical clients of Viad Corp?
What distinguishes Viad Corp in its competitive landscape?
How does Viad ensure service quality?
What role does technology play in Viad's services?
