Profile: Viad Corp (VVI.N)
9 Dec 2013
Viad Corp (Viad) provides services primarily within the exhibition and events industry and travel and recreation industry. Viad serves clients primarily in North America, the United Kingdom, Germany and the United Arab Emirates. The Company’s organizes its businesses into two main operating groups: Marketing & Events Group and Travel & Recreation Group. The Marketing & Events Group specializes in all aspects of the design, planning and production of face-to-face events, immersive environments and brand-based experiences for clients, including show organizers, corporate brand marketers and retail shopping centers. The Travel & Recreation Group generates its revenues from tourism products and services, including hotel and concession operations, transportation services and package tour operations in and around Western Canada, Glacier National Park in Montana and Waterton Lakes National Park in Alberta, Canada. Viad has three segments: Marketing & Events U.S. segment, Marketing & Events International segment and Travel & Recreation Group segment.
On January 5, 2011, Viad acquired Grouse Mountain Lodge, a 145-room, four-season resort hotel located in Whitefish, Montana. In June 2011, the Company acquired St. Mary Lodge & Resort, a 115-room hotel in St. Mary, Montana, which is located in the east entrance to Glacier National Park. In September 2011, it acquired Denali Backcountry Lodge, Denali Cabins and related assets, located in and adjacent to Denali National Park and Preserve in Alaska. On March 7, 2012, the Company acquired Banff International Hotel and related assets.
Marketing & Events U.S. Segment
The Marketing & Events U.S. segment includes the domestic operations of Global Experience Specialists, Inc. (GES) and affiliates. This segment generates revenues from the services, which includes Show Organizer Services, Exclusive Services Provided to Exhibitors, Discretionary Services Provided to Exhibitors and Other Marketing Services. The Marketing & Events U.S. segment serves as the official services contractor of an exhibition, which is referred to as a trade show. As the official services contractor, the U.S. segment provides services to the show organizer: general event management; planning and consultation; concept design; exhibition layout and design; graphics and design; show traffic analysis; carpeting and flooring; decorating products and accessories; custom graphics; overhead rigging; cleaning, and temporary electrical, lighting and plumbing. The exclusive services offered by the U.S. segment to exhibitors include material handling services; overhead rigging; temporary electrical and plumbing, and cleaning.
In addition to the exclusive services offered to exhibitors, the U.S. segment competes with other service providers to sell non-exclusive services to exhibitors, including custom exhibit design and construction; portable and modular exhibits and design; integrated marketing, including pre- and post-event communications and customer relationship management; multimedia services; event surveys; return on investment analysis; attendee and exhibit booth traffic analysis; staff training; online management tools; logistics and freight-forwarding, storage and refurbishment of exhibits; booth furnishings, carpeting and signage; in-house installation and dismantling, and various other show services. The U.S. segment also provides a variety of immersive, entertaining attractions and brand-based experiences, sponsored events, mobile marketing and other branded entertainment and face-to-face marketing solutions for clients and venues, including shopping malls, movie studios, museums, consumer brands and casinos. In addition, the U.S. segment offers retail clients complete services, including design, engineering, graphic production, fabrication, warehousing, shipping, and on-site installation of retail merchandising units, kiosks and holiday environments. The U.S. segment also provides construction and installation services for permanent installations, including museum exhibits, corporate lobbies, visitor’s centers, showrooms and retail interiors.
Marketing & Events International Segment
The Marketing & Events International segment includes all foreign operations of the Marketing & Events Group and consists of two operating segments: Canada and EMEA (Europe, Middle East, Asia). The International segment offers services that are similar to those provided by the U.S. segment. These services are delivered by Viad’s wholly owned subsidiaries, including GES Exposition Services (Canada) Limited, Melville Exhibition and Event Services Limited and affiliates (collectively Melville), SDD Exhibitions Limited and GES GmbH & Co. KG. During the year ended December 31, 2011, the International segment provided services to approximately 650 exhibitions and events and more than 58,000 exhibitors. The International segment has service operations in many of the active and exhibition and event destinations, including 10 Canadian cities, six United Kingdom cities, one German city, and two cities in the United Arab Emirates.
Travel & Recreation Group Segment
Travel and recreation services are provided by Brewster Inc. (Brewster) and Glacier Park, Inc. (Glacier Park). Glacier Park is an 80% owned subsidiary of Viad. Brewster is a tourism service operator in Western Canada, delivering tourism products that include world-class attractions, transportation services, inbound package tour operations, hotel operations and corporate and event management. Brewster’s transportation operations include charter motorcoach services, sightseeing and scheduled services and airport service. Brewster operates a modern fleet of luxury motorcoaches, available for groups of any size, for travel throughout the Canadian provinces of Alberta and British Columbia. In addition, Brewster provides year-round half- and full-day sightseeing tours from Calgary, Banff, Lake Louise and Jasper, Canada.
Brewster’s inbound package tour operations feature year-round package tours throughout Canada. These packages include motorcoach, rail, self-drive automobile, ski and winter touring and consist of both group and individual tours which may be custom designed at the time of booking. Brewster also offers a full suite of corporate and event management services for meetings, conferences, incentive travel, sports and special events. Event-related service offerings include staffing, off-site events, tours/activities, team building, housing, event management, theme development, production and audio visual services. Brewster operates two hotels in Alberta: the Mount Royal Hotel, which is located in Banff, and the Glacier View Inn, which is located on the Columbia Icefield between Lake Louise and Jasper. The hotels cater principally to leisure travelers.
Glacier Park is an independent hotel operator of Waterton-Glacier International Peace Park, which includes Glacier National Park in Montana and Waterton Lakes National Park in Alberta, Canada. Glacier Park operates five lodges, three 1960s-era motor inns and one full-season resort hotel, with accommodation offerings varying from hikers’ cabins to hotel suites. Glacier Park has food and beverage operations providing services to lodging guests and park visitors. Glacier Park also has retail operations, including a camp store and gift shops catering to lodging guests and park visitors. Glacier Park utilizes a fleet of authentic 1930s red touring buses that have rollback canvas tops to conduct interpretive park tours throughout Glacier and Waterton Lakes National Parks, including tours of the scenic Going-to-the-Sun Road. Glacier Park operates the concession portion of its business under a concession contract with the United States National Park Service (the Park Service) for Glacier National Park.
The Company competes with The Freeman Companies.
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