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.
Pursuit Attractions and Hospitality, Inc. reports company news on an attractions and hospitality business that owns and operates point-of-interest attractions, distinctive lodges, restaurants, retail and transportation in the United States, Canada, Iceland and Costa Rica. Recurring updates cover quarterly and annual results, business conditions at destination assets, and growth activity under its Refresh, Build, Buy strategy.
Company announcements also address capital structure and liquidity, including credit-facility amendments, leverage disclosures and material agreements. Pursuit's continuing-operations disclosures reflect the completed sale of its GES business.
Viad Corp (NYSE: VVI) announced the details for its second quarter 2021 earnings call on August 5, 2021, along with its preliminary liquidity position as of June 30, 2021, showing approximately $196 million in total liquidity. Viad is refinancing its $450 million revolving credit facility, aiming for a new structure to enhance financial flexibility. Current bookings for Pursuit’s Glacier Park and Alaska experiences are outpacing 2019 levels, while GES reports increased activity as live events resume. These developments could strengthen Viad's market position.
Viad Corp (NYSE: VVI) announced participation in two virtual conferences in June 2021. Management will present at the Oppenheimer 21st Annual Consumer Growth and E-Commerce Conference on June 16, 2021, at 4:35 p.m. ET, with investor meetings available. They will also participate in the Jefferies Virtual Consumer Conference on June 23, 2021, at 3:15 p.m. ET, also with available investor meetings. An updated investor presentation will be posted on Viad's website by June 16 at 8 a.m. ET. Viad provides experiential leisure and live events through its businesses, Pursuit and GES.
GES, a global leader in experiential marketing, launched the GES Plus Series℠, aiming to simplify exhibitor services and pricing structures. The first two programs, Material Handling+ and Electrical+, focus on transparent invoicing and practical pricing models. Material Handling+ shifts measurement to pounds for easy cost calculation, while Electrical+ includes all necessary items in a packaged price. The initiative underscores GES's commitment to improving the exhibiting experience for clients, with plans to expand the series throughout 2021.
GES has launched Visit GO! by GES℠, a global application designed for verifying COVID-19 test results and vaccination statuses, facilitating the safe return to live events. Implemented first at the London Mayoral Elections on May 11, 2021, this technology enhances safety for attendees by connecting health statuses with event badges. The user-friendly, mobile-optimized application reduces onsite testing needs and is compatible with various health agencies and test vendors globally. GES aims to ensure a secure environment for events while exceeding health and safety obligations.
Viad Corp (NYSE: VVI) reported its first quarter 2021 financial results, revealing revenue of $28.9 million, a significant decline from $294.7 million in Q1 2020, largely due to pandemic impacts. The net loss for the quarter was $43.2 million. Despite challenges, the company maintained a liquidity position of approximately $220 million and made progress in cash flow management. Notably, demand for leisure travel is increasing, and GES is seeing a gradual recovery in event bookings. The firm continues to prepare for a stronger summer tourism season with new attractions opening soon.
Viad Corp (NYSE: VVI) announced a teleconference scheduled for May 4, 2021, at 5 p.m. ET, where CEO Steve Moster and CFO Ellen Ingersoll will discuss the company's Q1 2021 financial results. Pursuit President David Barry will also join the call. A press release with the financial results will be issued the same day and made available on Viad's website. Stakeholders can register for the call and access a live audio webcast for the event. Viad operates in experiential leisure travel and marketing, primarily through its Pursuit and GES divisions.
Viad Corp (NYSE: VVI) announced a strategic acquisition of a 60% interest in the Golden Skybridge, a new attraction in Canada, costing approximately $12 million. This addition enhances Pursuit’s portfolio aimed at boosting growth in the post-pandemic landscape. The company also filed a 'universal shelf' registration statement with the SEC, facilitating timely capital raises for future opportunities. Viad's liquidity remained strong at approximately $227 million post-acquisition. CEO Steve Moster highlighted the acquisition's potential to bolster shareholder value as the travel sector recovers.
Viad Corp (NYSE: VVI) reported a significant decline in financial performance for Q4 2020, with revenue dropping to $27.9 million from $300.7 million in Q4 2019, largely due to the impact of COVID-19. For the full year, revenue fell 68% to $415.4 million, resulting in a net loss of $374.1 million. Despite challenges, the company highlighted strong liquidity of approximately $260 million and ongoing initiatives to improve cost management and accelerate recovery. Key projects include the upcoming openings of the Sky Lagoon in Iceland and FlyOver Las Vegas.
GES has launched an interactive Global Event Tracker to monitor key trade show cities and attendance over the past 90 days. This tool provides up-to-date event information with color-coded indicators to illustrate attendee participation. Despite challenges from the pandemic, the events industry contributed over $100 billion to the U.S. GDP last year. The tracker aims to help organizations understand event viability and enhance future planning as in-person gatherings return. For more details, visit the GES website.
GES has launched a Flex Talent Pool program aimed at providing temporary work for experienced exhibition professionals as the industry recovers post-COVID-19. This initiative seeks to create flexible employment opportunities for those affected by the pandemic, particularly in the United States. GES will collaborate with a third-party staffing agency to recruit and manage the talent pool, emphasizing the importance of skilled workers in revitalizing the exhibition sector. This program is a proactive response to the anticipated return of trade shows in 2021.