Maximizing Shareholder Value
CREATING VALUE WITH CAPITAL ALLOCATION STRATEGY
We prioritize being strong stewards of our capital to maximize shareholder value using a balanced approach
DRIVE STRONG FREE CASH FLOW AT GES
& REINVEST IN STRONG RETURNS AT PURSUIT
Invest in high-return growth investments to scale Pursuit's
iconic locations using Refresh, Build, Buy strategy
15%+ IRR minimum hurdle rate for all growth
investments
Focus on opportunities that are counter seasonal, offer
12-month profitability, fit our growth criteria, and/or that
are immediately accretive to EBITDA
WHILE MAINTAINING STRONG BALANCE SHEET
$160.7 million in liquidity and 2.6x net leverage ratio as of
December 31, 2023
Target net leverage ratio range of 2.5x-3.5x
Long-term debt maturities
PURSUIT GROWTH INVESTMENTS
GLACIER VIEW LODGE
2019 REFRESH
GOLDEN SKYBRIDGE
2021 BUY
MALIGNE LAKE F&B AND RETAIL
2019 REFRESH
GLACIER RAFT COMPANY
2022 BUY
ā
Term Loan B matures in 2028
Revolving Credit Facility matures in 2026
SKY LAGOON
FOREST PARK ALPINE HOTEL
2021 BUILD
2022 BUILD
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