Investor Presentaiton
CREATING VALUE WITH CAPITAL ALLOCATION STRATEGY
We prioritize being strong stewards of our capital to maximize shareholder value using a balanced approach
1 MAINTAIN STRONG BALANCE SHEET
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$201.3 million in liquidity and 2.5x net leverage ratio as of
September 30, 2023
Target net leverage ratio range of 2.5x-3.5x
Long-term debt maturities
Term Loan B matures in 2028
Revolving Credit Facility matures in 2026
2 DRIVE STRONG FREE CASH FLOW AT GES
3 INVEST IN GROWTH 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
CREATING VALUE CASE STUDIES
BANFF GONDOLA
EBITDA: $11M / INVESTMENT: $22M
GLACIER SKYWALK
EBITDA: $7M/INVESTMENT: $20M
ALASKA COLLECTION
EBITDA: $10M / INVESTMENT: $60M
8
VIAD
Note: EBITDA shown is from 2019 (and incremental for Banff Gondola as compared to trailing twelve
months prior to renovation).View entire presentation