In Canada, the government is renewing free admission to national parks through the Canada Strong Pass for summer 2026, expanding access during the peak travel season.

Feb 25, 2026 / receipt, needs a key / David Barry, CEO | earnings call 2026-02-25 | transcript 3db4ad94-447f-4785-a39a-096124554e27 | chars 20194-20360 | segment 20

Our adjusted EBITDA guidance range of $123 to $133 million reflects an increase of approximately 9% at the midpoint from 2025. This guidance includes adjusted EBITDA of approximately $500,000 from flyover, assuming the sale closes this spring. Excluding flyover from both years, revenue and adjusted EBITDA are expected to increase double digits at the midpoint from 2025, with adjusted EBITDA margin improvement. We also expect meaningful incremental adjusted EBITDA from Tavacon of approximately $7 million to $8 million relative to the prior year. Our outlook reflects solid underlying growth drivers, including continued demand for authentic experiential travel and iconic destinations and improvements in guest experience and revenue management that are driving higher effective ticket prices, ADR, and visitation. Strong flow-through and disciplined labor and expense management further enhance year-over-year EBITDA growth. With 2025 being such a standout year of performance, it sets a particular strong prior year baseline. We are assuming some weather normalization compared to the unusually near perfect conditions we experienced during our peak summer season last year. Our multi-year growth capital expenditures are expected to have a minimal impact on 2026 results, impacted by some temporary disruptions during our seasonally slow periods from our phased lodge renovations. But these investments will help propel our growth beyond this year. With the upcoming sale of flyover, our inco

Feb 25, 2026 / receipt, needs a key / Paul, CEO | earnings call 2026-02-25 | transcript 3db4ad94-447f-4785-a39a-096124554e27 | chars 23435-24935 | segment 24

And fourth, we're guiding for continued strong growth in 2026 and are well positioned to benefit from global consumer demand trends for experiential travel to iconic destinations.

Feb 25, 2026 / receipt, needs a key / David Barry, CEO | earnings call 2026-02-25 | transcript 3db4ad94-447f-4785-a39a-096124554e27 | chars 3077-3256 | segment 3

Yeah, what I see, Jeff, and thank you for the question, what I see is positivity, but important to remember it's early days. And so we have quite strong tour and travel demand coming from, you know, our tour and travel partners all over the world. So those indicators show strong demand for 2026. and those itineraries. Our early booking pace for 2026 is ahead of prior years.

Nov 5, 2025 / receipt, needs a key / David, CEO | earnings call 2025-11-05 | transcript f5ecc5ac-8cdc-49a3-860e-6f233f58bcb3 | chars 41410-41786 | segment 41

And so everywhere we look, we look for opportunities in a time of day and we price dynamically so that if you are a more budget conscious traveler, you've got windows in a week that are very transparent that you can pick a more affordable product at a time of day where we know we have capacity, what we call white space that we're looking to fill and do it that way.

Nov 5, 2025 / receipt, needs a key / David, other | earnings call 2025-11-05 | transcript f5ecc5ac-8cdc-49a3-860e-6f233f58bcb3 | chars 47971-48338 | segment 48

And I am convinced my colleagues will have something to add, but I think fundamentally, if you go back in time, there were many tales of woe coming out of the industry. And it was travel going to slow down, were people not going to spend. And there was an awful lot of media speculation, concerns about travel tariffs, all kinds of different things. We performed as expected internally and all of the measurement systems internally in the business and everything we were looking at were pointing to positivity.

Aug 6, 2025 / receipt, needs a key / David, CEO | earnings call 2025-08-06 | transcript 2c3c8eb3-dbc9-4f59-a115-7be3b75d2c40 | chars 28002-28512 | segment 28

My first question is on the travel trade. business and in terms of your rooms revenue on the books right now, what percentage is travel trade and kind of what are you expecting in terms of that mix of business as we move through the peak season here?

May 8, 2025 / receipt, needs a key / Tyler Batore, other | earnings call 2025-05-08 | transcript 667897cd-0ae0-440f-afaa-324a9882b27a | chars 13954-14204 | segment 13

Travel trade, strong demand for Jasper, for Banff, for other destinations, and we're seeing pretty good demand from around the world as people are seeking alternatives. They may have traveled in one particular country, switching to another. Good demand curve, good continued visibility of the future demand for 26, Tyler, did we lose you?

May 8, 2025 / receipt, needs a key / David Berry, CEO | earnings call 2025-05-08 | transcript 667897cd-0ae0-440f-afaa-324a9882b27a | chars 14428-14766 | segment 14

So when you put it all together, would you expect the lower Canadian dollar to be a headwind given that translation? headwind or or you know net net is it neutral or maybe even positive given given that i imagine this would create more more demand for you in canada yeah so um as you know i mean we've factored in from a pure recording currency perspective the 69 cent assumption for our exchange rate so that is factored into our guidance at this point You know, more broadly, there's obviously a lot that can evolve within the macro landscape on this. I do think, as you're alluding to on the positive side, at least, you know, what we're seeing currently is that there's more Canadians traveling domestically right now, which is into the U.S., and from an FX rate perspective, yeah, that should be a potential benefit if more U.S. guests are looking to travel into Canada to take advantage of that cheaper travel experience.

Mar 11, 2025 / receipt, needs a key / Beau, CFO, CFO | earnings call 2025-03-11 | transcript c8b6f0da-ebf0-49be-8699-bcb96fa2e280 | chars 27064-27991 | segment 27

And then when you look at the guide this year, Are you contemplating much international non-US travel trade business coming to Banff, Jasper?

Mar 11, 2025 / receipt, needs a key / Tyler Batori, other | earnings call 2025-03-11 | transcript c8b6f0da-ebf0-49be-8699-bcb96fa2e280 | chars 29223-29364 | segment 29

What we see and what we're seeing across pursuit in all geographies is an increase in demand from our tour and travel partners. It's not specific to one country. in the sense that it's a resurgence of say China or something else, but it's a broad increase in demand. So if you look at say the Canadian Rockies as an example, let's start there. We have tour and travel partners that are requesting additional inventory.

Mar 11, 2025 / receipt, needs a key / David, CEO, CEO | earnings call 2025-03-11 | transcript c8b6f0da-ebf0-49be-8699-bcb96fa2e280 | chars 29430-29848 | segment 29

So, our tour travel partners are all seeing demand from around the world. I would say our demand from the UK into Canada is strong. Our demand from Japan into Canada is strong, and a growing market from India. China is returning, you know, slowly, more slowly than some of the other markets, but still returning.

Mar 11, 2025 / receipt, needs a key / David, CEO, CEO | earnings call 2025-03-11 | transcript c8b6f0da-ebf0-49be-8699-bcb96fa2e280 | chars 30502-30814 | segment 31

Hospitality revenue increased $10.4 million during the three months ended June 30, 2026, primarily due to incremental hospitality revenue of $7.1 million from Tabacón, as well as an increase in ADR (as defined below) at our other lodging properties.

filing / Aug 5, 2026 / receipt

Hospitality revenue increased $19.2 million during the six months ended June 30, 2026, primarily due to incremental hospitality revenue of $15.2 million from Tabacón, as well as an increase in ADR at our other lodging properties.

filing / Aug 5, 2026 / receipt

Based on this evaluation, the CEO and CFO concluded that our disclosure controls and procedures were effective as of June 30, 2026.

filing / Aug 5, 2026 / receipt

Hospitality revenue increased $8.8 million primarily due to incremental hospitality revenue of $8.1 million from Tabacón, as well as an increase in ADR at our other lodging properties.

filing / May 6, 2026 / receipt

Based on this evaluation, the CEO and CFO concluded that our disclosure controls and procedures were effective as of March 31, 2026 .

filing / May 6, 2026 / receipt

EXPECT CONTINUED DOUBLE-DIGIT CAGR THROUGH 2030

ir_statement / Sep 17, 2026 / receipt

IMPROVING FREE CASH FLOW GENERATION

ir_statement / Sep 17, 2026 / receipt

MARGIN EXPANSION THROUGH OPERATING LEVERAGE

ir_statement / Sep 17, 2026 / receipt

>$265M AEBITDA 2030 Target

ir_statement / Sep 17, 2026 / receipt

>$845M Revenue 2030 Target

ir_statement / Sep 17, 2026 / receipt

>30% AEBITDA Margin 2030 Target

ir_statement / Sep 17, 2026 / receipt

Acquired leading sightseeing attraction in iconic destination

ir_statement / Sep 17, 2026 / receipt