Company: PRSU
Filing Date: 2025-03-17
Form Type: 10-K
Source: 0000950170-25-040127
Chunk: 120

Company: Pursuit Attractions & Hospitality, Inc.
Filing Date: 2025-03-17
Form: 10-K
Item: Item 7
Chunk 120
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    %

    2.2
    %

    2.3
    %

    ADR
     
    $
    205.26

    $
    202.94

    $
    197.21

    $
    192.03

    4.1
    %

    5.7
    %

    Hospitality revenue (in thousands)
     
    $
    143,961

    $
    137,691

    $
    130,303

    $
    125,860

    10.5
    %

    9.4
    %

(1)Same-Store metrics include only attractions and lodging properties that Pursuit operated at full capacity, considering seasonal closures, for the entirety of both periods presented. For experiences located outside the United States, financial metric comparisons to the prior year are expressed on a constant U.S. dollar basis.

Attractions. The increase in number of attractions visitors during 2023 was primarily driven by strengthening international tourism to Western Canada and Iceland. The increase in same-store effective ticket price during 2023 was driven by revenue management efforts.

Attractions ticket revenue on a same-store basis increased $30.9 million on a 21.1% increase in visitors and a 5.8% increase in effective ticket price during 2023. 

Hospitality. The increase in room nights available during 2023 was primarily driven by the addition of the Forest Park Hotel, which opened in August 2022. The increase in RevPAR during 2023 was due to increases in ADR and occupancy primarily driven by revenue management efforts and increased guest demand in Western Canada. 

During 2023, rooms revenue on a same-store basis increased $6.5 million on a 9.1% increase in RevPAR and a 0.2% decrease in room nights available.

21

Other Expenses

    Year Ended December 31,

    (in thousands)
     
    2024

    2023

    2022

    % Change 2024 vs. 2023

    % Change 2023 vs. 2022

    Cost of services
     
    $
    239,285

    $
    212,387

    $
    198,365

    12.7
    %

    7.1
    %

    Costs of products
     
    $
    86,644

    $
    84,