Viad Corp (NYSE:VVI) today announced that it completed the acquisition of St. Mary Lodge & Resort. This acquisition is expected to be slightly accretive to Viad’s 2011 earnings.
Paul B. Dykstra, Viad’s chairman, president and chief executive officer, said, “The acquisition of St. Mary Lodge & Resort is our second in-market expansion in the Glacier National Park area this year and an important addition to our high-margin Travel & Recreation Group. The property expands our high-end product portfolio and is a strong strategic fit with our Glacier Park operation. We are committed to expanding our hospitality and recreational attractions portfolio in and around national parks in North America, and this transaction represents another successful execution against those plans.”
St. Mary Lodge & Resort is an upscale full-service hotel and resort situated just outside Glacier National Park’s east entrance in St. Mary, Montana. With 115 guest rooms spread among six facilities, the property features accommodations ranging from luxury lodge rooms and suites to rustic and relaxing cottages and motel rooms. Full-service amenities include gift and sundry shops, restaurants, a coffee and chocolate shop, a gas station and a supermarket.
Michael Hannan, president of Viad’s Travel & Recreation Group, said, “St. Mary Lodge & Resort is a wonderful property that serves as a striking emblem of the Glacier National Park gateway. It complements our existing property portfolio by leveraging existing economies of scale and by rounding out our assortment of accommodation and location options to enhance our guests’ enjoyment of this majestic setting. The addition of St. Mary Lodge & Resort extends the reach of our environmental stewardship programs further into the community, and it broadens our position as a hospitality employer of choice in Glacier County and in the state of Montana.”In addition to St. Mary Lodge & Resort, Glacier Park, Inc. operates four historic lodges, three motor inns, a year-round resort property and a fleet of thirty-three historic red buses in and around Glacier National Park in Montana and Waterton Lakes National Park in Alberta, Canada. These two parks are together known as the Waterton-Glacier International Peace Park and welcome over 2 million visitors each year.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV