Expands Pursuit’s Banff Jasper Collection with Seven Additional



Corp (NYSE: VVI)

announced today that it has completed the acquisition of a 60 percent

equity stake in Mountain Park Lodges’ group of seven hotels and an

undeveloped land parcel ideally situated in Jasper National Park.

Following receipt of approvals by Parks Canada, the transaction closed

on June 8, 2019.

Steve Moster, Viad's president and chief executive officer, said, "We

are excited to welcome the properties and staff of Mountain Park Lodges

to our collection of outstanding experiences within Pursuit. They are a

perfect fit with our existing travel experiences in Jasper and Banff

National Parks. The combination of Mountain Park Lodges' 735 guest

rooms, which represents 31 percent of the bed base in the Jasper market,

and our three nearby attractions will enable us to offer a compelling

package of accommodations and activities for our guests in Jasper.”

Located in and around the authentic mountain town of Jasper, Alberta,

and surrounded by the pristine Canadian Rockies, the seven Mountain Park

Lodges properties include: Sawridge Inn and Conference Centre (152 guest

rooms); Pyramid Lake Resort (62 guest rooms); The Crimson Hotel (99

guest rooms); Chateau Jasper (119 guest rooms); Pocahontas Cabins (57

guest rooms); Marmot Lodge (107 guest rooms); and Lobstick Lodge (139

guest rooms).

This collection of unique properties will complement Pursuit’s current

experiences in Jasper National Park, which include the Columbia Icefield

Adventure, Columbia Icefield Skywalk and Glacier View Lodge, dining and

boat tour adventures at Maligne Lake, and the recently launched Maligne

Canyon Wilderness Kitchen.

We paid $99 million Canadian dollars for our 60 percent equity stake in

the Mountain Park Lodges properties, which was financed through our

revolving credit facility. As majority owner of these properties, we

will consolidate 100 percent of their results into Viad’s financial

statements and record noncontrolling interest expense related to the 40

percent owners’ share of the income. During 2019, we expect to record

revenue of $16 million to $18 million and adjusted segment EBITDA* of $9

million to $10 million, expressed in U.S. Dollars and inclusive of the

non-controlling owners’ share, related to the Mountain Park Lodges

properties. We expect adjusted segment EBITDA attributable to Viad

shareholders to be in the range of $5.5 million to $6.5 million during

2019 and in the range of $7.5 million to $8.5 million in 2020.

*Adjusted segment EBITDA is a non-GAAP financial measure. Please refer

to the end of this press release for important disclosures regarding

this measure.

About Viad

Viad (NYSE: VVI) generates revenue and shareholder value through two

business units: GES and Pursuit. GES is a global, full-service live

events company offering a comprehensive range of services to the world's

leading brands and event organizers. Pursuit is a collection of

inspiring and unforgettable travel experiences in Alaska, Montana, the

Canadian Rockies, Vancouver, Reykjavik (opening in July 2019), and Las

Vegas (opening in 2021) that includes attractions, lodges and hotels,

and sightseeing tours that connect guests with iconic places. Our

business strategy focuses on providing superior experiential services to

our customers and sustainable returns on invested capital to our

shareholders. Viad is an S&P SmallCap 600 company. For more information,

About Mountain Park Lodges

Mountain Park Lodges is a collection of seven hotel properties located

in and around the authentic mountain town of Jasper, Alberta. Uniquely

positioned in the heart of Jasper National Park, the town is surrounded

by some of the most gorgeous protected wilderness in the world and

Mountain Park Lodges' portfolio of experiences enable visitors to stay

and explore these pristine mountain parks. For more information about

Mountain Park Lodges, visit www.mpljasper.com.

Forward-Looking Statements

This press release contains a number of forward-looking statements.

Words, and variations of words, such as “will,” “may,” “expect,”

“would,” “could,” “might,” “intend,” “plan,” “believe,” “estimate,”

“anticipate,” “deliver,” “seek,” “aim,” “potential,” “target,”

“outlook,” and similar expressions are intended to identify our

forward-looking statements. Similarly, statements that describe our

business strategy, outlook, objectives, plans, intentions or goals also

are forward-looking statements. These forward-looking statements are not

historical facts and are subject to a host of risks and uncertainties,

many of which are beyond our control, which could cause actual results

to differ materially from those in the forward-looking statements.

Important factors that could cause actual results to differ materially

from those described in our forward-looking statements include, but are

not limited to, the following:

  • our ability to successfully integrate and achieve established
    financial and strategic goals from acquisitions;

  • fluctuations in general economic conditions;

  • our dependence on large exhibition event clients;

  • the importance of key members of our account teams to our business

  • the competitive nature of the industries in which we operate;

  • travel industry disruptions;

  • unanticipated delays and cost overruns of our capital projects, and
    our ability to achieve established financial and strategic goals of
    such projects;

  • seasonality of our businesses;

  • transportation disruptions and increases in transportation costs;

  • natural disasters and other catastrophic events;

  • the impact of recent U.S. tax legislation;

  • our multi-employer pension plan funding obligations;

  • our exposure to labor cost increases and work stoppages related to
    unionized employees;

  • liabilities relating to prior and discontinued operations;

  • adverse effects of show rotation on our periodic results and operating

  • our exposure to currency exchange rate fluctuations;

  • our exposure to cybersecurity attacks and threats;

  • compliance with laws governing the storage, collection, handling, and
    transfer of personal data and our exposure to legal claims and fines
    for data breaches or improper handling of such data;

  • the effects of the United Kingdom’s exit from the European Union; and

  • the effects of changes in the U.S. trade policy.

For a more complete discussion of the risks and uncertainties that may

affect our business or financial results, please see Item 1A, “Risk

Factors,” of our most recent annual report on Form 10-K filed with the

SEC. We disclaim and do not undertake any obligation to update or revise

any forward-looking statement in this press release except as required

by applicable law or regulation.

Forward-Looking Non-GAAP Measures

We have provided the following forward-looking non-GAAP financial

measure: Adjusted Segment EBITDA. We do not provide quantitative

reconciliations of this forward-looking non-GAAP financial measure to

its most directly comparable GAAP financial measure because, due to

variability and difficulty in developing accurate projections and/or

certain information not being ascertainable or accessible, not all of

the information necessary to do so is available to us without

unreasonable effort. Consequently, any attempt to disclose such

reconciliations would imply a degree of precision that could be

confusing or misleading to investors. It is probable that our

forward-looking non-GAAP financial measure may be materially different

from the corresponding GAAP financial measure.


Carrie Long

Investor Relations

(602) 207-2681