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.
Viad Corp (NYSE: VVI) is a distinguished S&P SmallCap 600 diversified services company, operating under three primary segments: Pursuit, Spiro, and GES Exhibitions. Viad Corp has established itself as a leader in providing unparalleled marketing and travel experiences across North America, the United Kingdom, Europe, and the United Arab Emirates.
Pursuit is dedicated to offering inspirational and memorable travel experiences. This segment includes recreational attractions, hotels and lodges, food and beverage services, retail, sightseeing, and ground transportation. Pursuit's comprehensive portfolio ensures guests have remarkable journeys and experiences that last a lifetime.
Spiro is a prominent marketing agency that collaborates with global brands to enhance their experiential marketing initiatives. Spiro specializes in creating dynamic and engaging marketing campaigns, ensuring brands connect with their audiences in meaningful ways.
GES Exhibitions partners with exhibition and conference organizers to deliver a full range of strategic and logistical solutions. This segment is a full-service provider, managing the intricacies of shows and ensuring seamless execution. GES Exhibitions supports organizers in crafting impactful and successful events that resonate with attendees.
Viad Corp's recent achievements and ongoing projects highlight its commitment to innovation and excellence. The company's financial health is robust, underpinned by strategic partnerships and a diverse portfolio of services. Viad Corp continues to excel in delivering high-quality, place-based marketing services, positioning itself as an industry leader in both travel and experiential marketing sectors.
GES, a leader in exhibition services, has launched Spiro™, a new integrated marketing solutions agency aimed at enhancing brand experience and live events. The agency will offer comprehensive services including event management, hybrid experiences, and community-centered design. GES's Executive Vice President, Jeff Quade, noted the shift in corporate needs, highlighting Spiro's evolution from Brand Experiences to meet client demands year-round. This move positions GES to better serve its corporate accounts and amplify its legacy of excellence in the event industry.
GES has launched Spiro™, a new brand experience agency aimed at enhancing event management in a post-pandemic landscape. This initiative reflects GES's commitment to adapting to the evolving nature of events, integrating in-person, virtual, and hybrid formats. Spiro aims to elevate audience engagement and community building through innovative strategies. With a focus on immersive storytelling, the agency is expected to draw larger audiences and improve brand loyalty for its clients. GES continues to support traditional exhibition services while expanding its capabilities with Spiro.
Viad Corp (NYSE:VVI) announced an agreement to acquire Glacier Raft Company, enhancing its Glacier Park Collection. This acquisition will be funded by existing liquidity and is expected to close in April 2022. Simultaneously, the company amended its 2021 credit agreement for added flexibility through Q1 2023, increasing its leverage ratio to 5.25x. As of March 22, 2022, liquidity stood at approximately $158 million. With improved business conditions boosting cash flow and a positive outlook for growth, Viad is focused on maximizing EBITDA and capital stewardship.
Viad Corp (NYSE:VVI) announced the promotion of Derek P. Linde to Chief Operating Officer, General Counsel & Corporate Secretary, effective March 1, 2022. This expanded role aims to accelerate the company's strategy for significant EBITDA growth. Mr. Linde, who joined Viad in April 2018, will collaborate closely with leadership to enhance enterprise-level initiatives. CEO Steve Moster praised Mr. Linde's contributions, emphasizing his role in driving growth and achieving returns for shareholders. Viad Corp offers unique experiences through its businesses, Pursuit and GES, and is an S&P SmallCap 600 company.
Viad Corp (NYSE: VVI) has announced the appointment of Beverly K. Carmichael as an independent director, effective February 21, 2022. With over 30 years of experience in senior roles across various industries, including hospitality and technology, Carmichael will also serve on the Human Resources Committee. Her extensive background includes previous board service at Leaf Group (NYSE: LEAF) and advisory roles in hospitality tech. Chairman Richard H. Dozer expressed confidence that her expertise will greatly benefit Viad's growth strategy.
Viad Corp (NYSE: VVI) reported significant financial improvements for Q4 and full year 2021, with Q4 revenue reaching $183.6 million, up from $27.9 million in Q4 2020. Full year revenue increased to $507.3 million from $415.4 million in 2020. Notably, Pursuit's revenue exceeded pre-COVID levels due to new attractions, contributing $5 million in Q4. GES saw a 38% revenue rise sequentially. Despite a net loss of $22.5 million in Q4, the company generated positive adjusted EBITDA for the year. The outlook for 2022 anticipates continued growth despite challenges posed by the Omicron variant.
GES has launched four new programs in its GES Plus Series, enhancing exhibitor services and streamlining processes for trade shows. The new offerings include GES Hanging Signs+, GES Exhibit Furnishings+, GES Exhibit Flooring+, and GES Exhibit Systems+. These programs simplify pricing, ordering, and provide bundled services, making exhibiting more cost-effective. The initiative aims to support small exhibit spaces and promote sustainable practices. GES, a Viad Corp company, continues to strengthen its position as a leader in experiential marketing and exhibition services.
Viad Corp (NYSE: VVI) announced a teleconference for February 10, 2022, at 5 p.m. Eastern Time to discuss its fourth-quarter and full-year 2021 results. CEO Steve Moster and CFO Ellen Ingersoll will lead the call, joined by Pursuit President David Barry. Details for registration and access to a live audio webcast will be available on the company's website. Viad Corp operates through Pursuit and GES, focusing on experiential travel and live events. More information will be provided in the upcoming press release on the day of the call.
The IMEX Group has renewed its partnership with GES until 2026, demonstrating a continued commitment to the business events sector following its recovery. Since the inaugural IMEX America in 2011, GES has served as the official contractor, contributing to the recent event that attracted over 8,600 participants in Las Vegas. Mark Mulligan from IMEX praised the collaboration amid challenging circumstances, while GES's Rob Noble expressed satisfaction with the event's success. The ongoing partnership signals optimism for future events and growth.
GES, a global provider for live events and a subsidiary of Viad Corp (NYSE: VVI), invites IAEE Expo! Expo! attendees to its booth, themed 'REconnect, REfocus and REinvent'. The initiative emphasizes reconnecting in person and simplifying event planning through the recently launched GES Plus Series℠, which streamlines pricing for exhibitor services. The first programs focus on Material Handling and Electrical Services, aimed at providing clarity for organizers and exhibitors. GES aims to enhance collaboration and support industry needs post-pandemic.
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