PRSU · CIK 0000884219
What Pursuit Attractions & Hospitality, Inc. told the SEC could break it.
Pursuit's revenue is heavily international and unhedged: its operations in Canada, Iceland and Costa Rica made up about 71% of consolidated revenue in 2025, exposing it to currency-exchange swings and those countries' conditions. Its wilderness attractions and lodges also sit in the path of natural disasters — the Jasper wildfires temporarily closed attractions and lodging properties in July 2024, disrupting revenue. And its business is highly seasonal, with 79% of 2025 revenue earned in the second and third quarters, concentrating cash flow in the summer and amplifying the cost of any disruption during that narrow peak window.
3 self-disclosed vulnerabilities, pulled from its own filings, each in the company’s words, with the source. This is the risk register almost nobody reads.
In its own words
What could break it.
Geographic concentration
- international operations (Canada/Iceland/Costa Rica = 71%) + FXhigh
Pursuit's revenue is heavily international — Canada, Iceland and Costa Rica operations were ~71% of consolidated revenue in 2025 — exposing it to currency-exchange-rate fluctuations (which it does not hedge) and those countries' conditions.
“During 2025, our international operations in Canada, Iceland, and Costa Rica accounted for approximately 71% of our consolidated revenue. Consequently, a significant portion of our business is exposed to currency exchange rate fluctuations.”
SEC filing →As of 2026
Climate & physical
- wildfire / natural-disaster exposure (Jasper)medium
Pursuit's wilderness-destination attractions and lodges are exposed to natural disasters — the Jasper wildfires in July 2024 temporarily closed attractions and lodging properties, disrupting revenue.
“attractions and lodging properties that were temporarily closed due to the Jasper wildfires in July 2024 are comparatively excluded for the third and fourth quarters in the table above.”
SEC filing →As of 2026
Other disclosures
- revenue seasonality (79% in Q2/Q3)medium
Pursuit's attractions/hospitality revenue is highly seasonal — 79% was earned in the second and third quarters of 2025 — concentrating cash flow in the summer and leaving it exposed to disruptions during peak season.
“During the year ended December 31, 2025, 79% of our revenue was earned in the second and third quarters.”
SEC filing →As of 2026
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