Pursuit Divests Flyover Business to Fuel Core Growth and Vision 2030

DENVER, CO – July 31, 2026 – Pursuit Attractions and Hospitality, Inc. has completed a significant strategic maneuver, finalizing the sale of its Flyover flying theater business to Brogent Technologies Inc. for $75 million. The divestiture marks a decisive step in Pursuit's long-term strategy, streamlining its portfolio to concentrate on its core hospitality and sightseeing experiences located in the world's most iconic natural landscapes. The move unlocks substantial capital, positioning the company to accelerate growth and deliver on its ambitious Vision 2030 targets.

The transaction transfers ownership of the four popular Flyover attractions in Vancouver, Iceland, Las Vegas, and Chicago to Brogent, a global leader in the engineering and technology behind such immersive rides. For Pursuit, the sale is less an exit and more a strategic reallocation of resources, sharpening its focus on the lodges, attractions, and transportation services that connect visitors directly with renowned destinations like national parks and global travel hotspots.

A Strategic Pivot to Fortify the Core

The sale represents a deliberate execution of the company's refined 'go-forward strategy.' While the Flyover attractions were successful, welcoming 1.4 million visitors in 2025, they represent a different business model than Pursuit's primary collection of experiences. This divestiture allows management to dedicate its full attention and resources to its foundational assets.

“The sale of Flyover aligns our portfolio with our go-forward strategy to grow our core sightseeing attractions and hospitality experiences in iconic destinations and deliver on our Vision 2030 targets,” said David Barry, Pursuit president and chief executive officer. “With the transaction complete, we further sharpen our singular focus with substantial capacity to reinvest.”

This sharpened focus is key. Pursuit's portfolio includes distinctive lodges near national parks, world-class attractions like the Banff Gondola, and integrated services that create cohesive visitor experiences. By shedding the more tech-centric, urban-based Flyover brand, the company reinforces its identity as a premier operator of nature-based and destination-centric hospitality. The financial footing for this strategic pivot is now exceptionally strong. The $75 million in proceeds, combined with a balance sheet already boasting a net leverage ratio of just 1.5x—well below its target range—provides Pursuit with significant firepower for its next phase of growth.

Unlocking Capital for Vision 2030

The infusion of capital is not just about strengthening the balance sheet; it is the fuel for a clearly defined, multi-pronged growth engine. Pursuit has outlined a disciplined capital allocation strategy that prioritizes high-return investments, strategic acquisitions, and returns to shareholders.

First, the company is aggressively pursuing organic growth. It has earmarked approximately $70 to $80 million for capital projects in 2026 alone, part of a multi-year plan to invest over $300 million in its existing properties by 2030. These investments range from refreshing and expanding lodges to launching new attractions, such as the recently introduced electric Ice Explorer vehicle at the Columbia Icefield, which underscores a commitment to both innovation and sustainability within its core operations.

Second, the divestiture enhances Pursuit's ability to make strategic acquisitions. The company is actively seeking complementary businesses that fit its refined focus on iconic destinations. Its recent acquisition of Eagle Wing Tours, a leading whale watching operator in Victoria, British Columbia, serves as a perfect blueprint. The deal marks Pursuit's entry into the vibrant Vancouver Island market and is expected to be immediately margin accretive, demonstrating a disciplined approach to expansion.

Finally, the company is demonstrating confidence in its strategy by opportunistically returning capital to shareholders. In the first quarter of 2026, Pursuit repurchased $25.2 million of its stock, and its board recently authorized an additional $50 million for its buyback program. This signals to investors that management believes its stock is a valuable investment and that its long-term growth prospects are robust.

A New Flight Path for Flyover Under Brogent

While Pursuit sharpens its focus, the Flyover business is poised for a new era of innovation under its new owner. Brogent Technologies is not just an arbitrary buyer; it is the technological backbone of the flying theater industry. As a publicly listed company specializing in immersive ride systems, Brogent has delivered over 100 media-based attractions across more than 20 countries. This acquisition represents a strategic vertical integration, moving the company from solely being a technology supplier to also being a direct-to-consumer operator.

This shift could invigorate the Flyover brand. With direct control over the attractions, Brogent is positioned to use the four locations as showcases for its latest technological advancements. Future enhancements could include next-generation motion seating, hyper-realistic media content, and new sensory effects that push the boundaries of immersive entertainment. For guests in Las Vegas, Vancouver, and beyond, this could mean new 'flights' and even more breathtaking experiences in the years to come.

The transition is expected to be smooth, with Pursuit's leadership praising the state of the business being handed over. “Flyover delivers exceptional guest experiences, led by a strong team,” Barry noted. “The business will be well positioned for continued success under a new strategic owner focused on maximizing its growth potential.”

The Evolving Landscape of Immersive Entertainment

The deal also reflects powerful currents within the broader location-based entertainment market. The industry is increasingly driven by an 'experiential economy' where consumers, particularly millennials and Gen Z, prioritize unique and memorable activities over material goods. Flying theaters like Flyover are at the forefront of this trend, offering highly shareable, multi-sensory experiences that blend the thrill of an amusement park ride with the beauty of a travel documentary.

By acquiring an established and respected brand with a footprint in key international tourist hubs, Brogent gains a significant competitive advantage. It secures not only a steady revenue stream but also a real-world laboratory for innovation. For the local tourism economies in its host cities, the ownership change to a specialized and invested operator is a positive development, promising continued investment and evolution for a popular anchor attraction. This strategic divestiture by Pursuit, therefore, creates a win-win scenario, allowing one company to hone its core mission while empowering another to elevate an entire category of entertainment.