Viad Corp Announces Plans to Develop Third FlyOver Attraction
PHOENIX--(BUSINESS WIRE)--Feb 26, 2019--Viad Corp (NYSE: VVI ) announced today that it will expand its high-margin virtual flight ride concept to the popular tourism market of Las Vegas, Nevada. Modeled after Pursuit’s highly successful FlyOver Canada attraction, FlyOver Las Vegas will provide guests an exhilarating virtual flight experience over some of the most spectacular scenery and natural wonders of the American Southwest.
Steve Moster, Viad’s president and chief executive officer, said, “We are very excited to announce another expansion of this successful attraction experience. The Las Vegas market enjoys strong year-round tourism with more than 42 million visitors each year. We were able to secure a great location on Las Vegas Boulevard to create the new FlyOver Las Vegas experience. We expect to begin construction of the attraction later this year and should be welcoming our first guests in early 2021.”
FlyOver Las Vegas will be the third FlyOver attraction operated by Viad’s Pursuit business unit. Pursuit has owned and operated FlyOver Canada in Vancouver since 2016 and will be opening FlyOver Iceland, located in Iceland’s capital city of Reykjavik, this summer.
David Barry, president of Pursuit, said, “The story of our growth is grounded in our commitment to refresh, improve, and expand our global collection of iconic, unforgettable and inspiring adventure travel experiences. Building a new FlyOver attraction in a globally recognized tourism destination like Las Vegas marks another milestone in Pursuit’s strategic growth. The new attraction will enable us to connect visitors with a distinctive experience that showcases both stunning natural wonders of the Southwestern United States, along with the vibrancy of Las Vegas.”
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, and Reykjavik, Iceland (opening in Summer 2019) that includes attractions, lodges and hotels, and sightseeing tours that connect guests with iconic places. Viad is an S&P SmallCap 600 company. For more information, visit www.viad.com. For more information about Pursuit’s collection of experiences, visit www.pursuitcollection.com.
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;
- our dependence on large exhibition event clients;
- the importance of key members of our account teams to our business relationships;
- the competitive nature of the industries in which we operate;
- travel industry disruptions;
- transportation disruptions and increases in transportation costs;
- seasonality of our businesses;
- terrorist attacks, natural disasters and other catastrophic events;
- fluctuations in general economic conditions;
- the impact of recent U.S. tax legislation;
- our exposure to currency exchange rate fluctuations;
- our multi-employer pension plan funding obligations;
- our exposure to labor cost increases and work stoppages related to unionized employees;
- our exposure to cybersecurity attacks and threats;
- compliance with laws governing the collection, storage, handling and transfer of personal data and our exposure to legal claims and fines for data breaches or improper handling of such data;
- unanticipated delays and cost overruns of our capital projects, and our ability to achieve established financial and strategic goals of such projects;
- adverse effects of show rotation on our periodic results and operating margins;
- the effects of the United Kingdom’s exit from the European Union; and
- liabilities relating to prior and discontinued operations.
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.
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CONTACT: Sajid DaudiorCarrie Long
KEYWORD: UNITED STATES NORTH AMERICA ARIZONA NEVADA
INDUSTRY KEYWORD: ENTERTAINMENT TRAVEL DESTINATIONS VACATION GENERAL ENTERTAINMENT
SOURCE: Viad Corp
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PUB: 02/26/2019 08:00 AM/DISC: 02/26/2019 08:01 AM