Viad uses revolver to fund Mountain Park Lodges investment

By Rebecca Melvin

New York, June 10 – Viad Corp. said it is using its revolving credit facility to pay for a 60% equity stake in Mountain Park Lodges properties for C$99 million.

The transaction closed on Saturday.

The properties located in the Canadian Rockies are expected to generate $16 million to $18 million in revenue and $9 million to $10 million adjusted segment EBITDA in 2019, of which Viad will expense 40% for the minority shareholders, according to a company news release.

Phoenix-based Viad is a travel and recreation company that provides services for exhibition organizers.

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