Viad’s 3Q Revenues Increase 36 Percent; GES’ U.S. Revenues Up 39 Percent

November 2, 2014

The third quarter was a good one in more ways than one for Phoenix-based Viad, as well as its divisions, including Global Experience Specialists in the U.S. and overseas.

Overall 3Q revenues for Viad were up 36.2 percent to nearly $300 million, compared with the same quarter in 2013, with GES in the U.S. scoring a 39.5 percent revenue increase to $168 million, and overseas the company pulled in a whopping 59 percent uptick to $64 million, compared with the same quarters in 2013.

Viad’s Travel and Recreation also saw a nearly 15 percent 3Q revenue increase to $73 million, compared with the same quarter last year.

Viad’s income before other items was $20.8 million, which nearly doubled, compared with $10.9 million during the same quarter in 2013.

“Both of our business groups delivered significant year-on-year growth with results that were in line with our prior guidance,” said Paul B. Dykstra, Viad’s president and CEO.

He added, “Our strong third quarter results reflect the benefit of positive show rotation, continued same-show growth and better than anticipated visitation to our new Glacier Skywalk attraction. The acquisitions of the West Glacier Motel & Cabins, the Apgar Village Lodge and related assets, and Blitz Communications also added to our revenues and profits during the quarter.”

The U.S. Marketing & Events Group’s revenue increase, which includes GES, primarily was driven by positive show rotation of approximately $34 million in revenue, a 3.4 percent increase in base same-show revenue and new business wins.

The international segment of the same group saw revenues increase just shy of $24 million, which also was driven by positive show rotation of approximately $14 million in revenue and new business wins.

The wins in both the U.S. and overseas that had a positive impact were the Mary Kay Seminar, SIBOS and Commonwealth Games in Scotland, according to GES’ president Steve Moster.

He added that some of the U.S. and international shows that rotated in and also had a positive impact were IMTS, SIBOS and Farnborough Air Show.

Also in the third quarter, Viad bought U.K.-based Blitz Communications, an audio visual (AV) services provider for the live events industry in the U.K. and continental Europe.

Boosting their portfolio even more, in the first month of the fourth quarter Viad made a double buy, scooping up housing services companies onPeak and Travel Planners.

Moster said of all the acquisitions’ impact on revenues; “Since we purchased Blitz Communications toward the end of the third quarter, the impact to revenues was nominal. For the fourth quarter, Blitz, onPeak and Travel Planners, are expected to add approximately $20 million in revenue.”

He added of the onPeak and Travel Planners recent buy, “The additions of Travel Planners and onPeak immediately launched GES as a leader in the event housing market and creates an opportunity to simplify the customer experience by dealing with one company across multiple offerings.”

As far as what’s on tap strategically for 2015, Moster said, “We are focused on our growth strategy, the margins of our core business and integrating Blitz and onPeak into GES.”

Add new comment

Partner Voices
  MGM Resorts is renowned for its exceptional service and diverse venue options across Las Vegas, Detroit, Springfield, National Harbor, Biloxi, and Atlantic City, providing flexible spaces for meetings of any size. Beyond these offerings, MGM Resorts distinguishes itself through a strong commitment to social responsibility and sustainability, making it an ideal choice for your next meeting.  At the core of MGM Resorts' company values is its platform, "Focused on What Matters," dedicated to meeting customer needs while advancing socially responsible practices. This commitment is evident in several key areas:  Protecting Natural Resources  MGM Resorts is home to industry-leading recycling, renewable electricity and water conservation programs. Some highlights include a cogeneration power plant at ARIA, producing ultra-efficient electricity; one of America’s largest contiguous rooftop solar arrays atop the convention center at Mandalay Bay; and onsite wells that provide water for the celebrated Fountains of Bellagio, avoiding reliance on precious Colorado River water. These efforts and many more save on natural resources while boosting attendee satisfaction.  Committed to Community  Always striving to be good neighbors, MGM Resorts works to avoid food waste and combat food insecurity with the Feeding Forward program. In partnership with local food banks, they safely divert unserved food to food insecure members of the community. Since 2016, over 5 million meals have been provided, highlighting MGM Resorts' commitment to minimizing food waste and addressing community needs.  MGM Resorts supports clients in their responsible-meetings efforts, not only with efficient venues but also waste-reducing décor and signage; sustainable food and beverage options; and outreach to help planners communicate sustainability efforts to attendees. What’s more, they offer a Mindful Meetings series that puts attendee wellness first—through fitness and mindfulness activities, and in give-back events with local charity organizations.   Fostering Diversity & Inclusion  To MGM Resorts, a diverse and talented workforce is essential to success. By cultivating innovative strategies that consider multiple perspectives and viewpoints, the company creates an inclusive workplace culture that benefits its employees and community. MGM Resorts takes pride in being a welcoming home for veterans, individuals with disabilities, people from diverse backgrounds, LGBTQ+ community members, and more. This commitment to inclusion is reflected in the company's recruitment and hiring practices and its social responsibility initiatives. From the workplace to the community, MGM Resorts' commitment to diversity, equity and inclusion remains unwavering, and its efforts continue to create a more equitable and sustainable world for all.  MGM Resorts offers unparalleled service and venue options while standing out for its proactive approach to sustainability and community engagement. Choosing MGM Resorts for your next meeting means aligning with a company that values social responsibility, efficiency, and attendee satisfaction, ensuring a meaningful and impactful event experience.