The Jasper SkyTram will be sold to Pursuit.
Viad Corp, parent company of Pursuit Banff/Jasper Collection, today announced it has entered into an agreement to acquire the Jasper SkyTram from RMSI-JTAC Equipment Holdings LP, the Edmonton-based corporation that also owns Marmot Basin. Subject to Parks Canada approvals, Viad expects the transaction to close in July, according to a Viad press release.
“We will benefit from [the Jasper SkyTram’s] deep competitive moat, economies of scale and scope, and the strong perennial demand for this iconic destination,” Viad’s president and CEO, Steve Moster, told shareholders.
The purchase is worth $25 million CAD and includes a renewable long-term lease with Parks Canada, with nearly 30 years remaining. Moster said during in 2024 Viad expects the Jasper SkyTram to add approximately $4 million U.S. of revenue to Pursuit’s overall margin. Last year, Pursuit recorded record earnings between July and September, 2023.
“This attraction is a perfect strategic fit in Pursuit’s Banff Jasper Collection,” Moster said.
Through the news release, Pursuit’s president, David Barry, said the company is excited to plan for the future with the Jasper SkyTram’s experienced team.
“We’re excited to plan for the future refresh and renewal of the SkyTram in alignment with Parks Canada and the Jasper community,” Barry said.
Bob Covey // bob@thejasperlocal.com
