by Natasha Lair
Last updated: 10:15 AM ET, Fri August 8, 2025
Pursuit Attractions and Hospitality, Inc. announced plans to pour more than $200 million into upgrading, expanding, and acquiring destination experiences over the next five years.
The company — which operates 17 attractions and 29 lodges in Canada, Iceland, Costa Rica and the U.S. — reported Q2 revenue of $116.7 million, up 15.4% from the same period last year, and a 49% rise in adjusted EBITDA to $29.7 million.
According to a press release, gains were driven by higher visitor numbers, increased attraction ticket prices, and growth in lodging revenue per available room.
Canadian-born president and CEO, David Barry, credited the results to strong demand for “differentiated and authentic guest experiences” and a business model built around reinvesting in high-value tourism assets.
David Barry, Canadian-born president and CEO of Pursuit Attractions and Hospitality, Inc. (Photo Credit: Pursuit)
RELATED: ‘We’re in the Business of Beautiful Views:’ Pursuit CEO David Barry
“Our proven growth strategy continues to generate strong returns as we invest in enhancing and repositioning our existing experiences, while expanding our collection of assets in iconic destinations with perennial demand,” Barry said.
At the centre of that growth strategy is Refresh, Build, Buy — a roadmap for strengthening Pursuit’s portfolio and the destinations where it operates:
- Refresh: Renovations at properties such as the year-round Forest Park Hotel in Jasper National Park, with phased guest room upgrades and public space enhancements, and the repositioning of Grouse Mountain Lodge in Whitefish, Montana, to target the higher-end leisure market.
- Build: Expanding experiences, including Jasper’s Ice Odyssey tour at the Columbia Icefield, which will add two small-group, all-terrain vehicles for the 2025 season following a successful 2024 pilot.
- Buy: Acquiring unique, attraction-focused properties that complement Pursuit’s network, such as the July 1 purchase of Costa Rica’s Tabacón Thermal Resort & Spa for $111 million — a move Barry says “strengthens our global footprint and unlocks meaningful long-term growth opportunities.”
Tabacon Honeymoon Suite Plunge Pool (Photo Credit: Pursuit)
Pursuit said it expects to invest between $38 million and $43 million in organic growth this year, with its five-year plan aimed at adding value to local tourism economies. "We’ve identified more than
$200 million of Refresh and Build investments that we believe we can execute over the next five years," the press release states.
RELATED: Tourism and Hospitality Businesses Pledge Millions to Jasper Rebuild
In Canada, the company operates attractions like the Banff Gondola, Columbia Icefield Adventure, Maligne Lake Cruise, and FlyOver Canada in Vancouver.
“With our solid first half of the year performance, favourable foreign exchange trends, and the acquisition of Tabacón, we are raising our full year guidance,” Barry said. Full-year adjusted EBITDA is now projected between $108 million and $118 million, up $10 million from previous guidance.
Topics From This Article to Explore
