Viad Corp has announced plans for two exciting new attractions that will continue to add scale to its high-margin Pursuit business, a new geothermal lagoon in Iceland and new FlyOver experience in Toronto.
Steve Moster, Viad’s president and chief executive officer, said, “We continue to accelerate Pursuit’s growth through our Refresh, Build, Buy initiatives. FlyOver Canada Toronto will be our fourth location for this high-margin growth platform.”
Through a competitive bid process undertaken by Canada Lands Company Limited, a federal Crown corporation that specializes in real estate, development and attractions management, Pursuit has entered into a land lease to construct the new FlyOver Canada attraction near the base of Canada’s famed CN Tower. Subject to standard City of Toronto approvals, construction is expected to commence in 2020, with an expected opening in 2022.
Moster added, “We are also very excited to expand our iconic locations platform with the addition of a new geothermal lagoon attraction in Iceland. With a scenic oceanfront location, and close proximity to downtown Reykjavik, this lagoon will offer guests a convenient, world-class experience that connects them to an iconic place known for its natural beauty and geothermal resources.”
Pursuit will operate the geothermal lagoon in partnership with Geothermal Lagoon ehf, the Icelandic entity that owns the lagoon assets. The experience is currently in development and is expected to open in 2021.
David Barry, president of Pursuit, said, “We take great pride in our expertise operating world-class attractions and hospitality assets, and we are honored to have been chosen by Canada Lands and Geothermal Lagoon to bring two new attractions to market. We have now completed five transactions this year that will accelerate our growth, reflecting our commitment to refreshing, improving, and expanding our global collection of iconic, unforgettable and inspiring experiences.”