PRSU Stock Forecast & Price Target

Pursuit Attractions is supported by a scarce portfolio of attractions and lodges in supply-constrained destinations such as Banff, Glacier, Alaska, Iceland, and Costa Rica, where limited new development and healthy visitation create durable pricing power. In FY25, revenue rose 23% to $452 million and EBITDA climbed 52% to $117 million, while effective ticket prices are only about $50 per visitor and hotel ADR increased from $138 in 2017 to $239 in 2025, underscoring strong monetization. Its “Refresh, Build, Buy” model has expanded the business from 4 attractions and 12 lodges in 2015 to 17 attractions and 29 lodges, and with pro forma leverage near 1x, it has ample flexibility to fund high-return growth and accretive M&A.

Pursuit Attractions is facing a weak fundamental setup because its earnings are highly exposed to a narrow set of remote, seasonal destinations, with about three-quarters of annual revenue generated in Q2 and Q3 and meaningful concentration in Canada, Alaska, Iceland, and U.S. national park gateways. Its high fixed-cost base, dependence on seasonal labor, and sensitivity to inflation, higher oil prices, higher interest rates, and softer leisure travel can quickly compress margins and EBITDA when visitation falls. The stock is further pressured by legal, permitting, climate, and government-relations risks, including wildfire disruption in Jasper National Park, which could impair traffic, raise costs, and limit the company’s ability to execute its buy-and-build strategy.