PHOENIX, June 15, 2015 /PRNewswire/ -- Viad Corp (NYSE:VVI) today announced that David Barry has joined the company as president of its Travel & Recreation Group, reporting to Steven W. Moster, Viad's president and chief executive officer. Barry, who brings more than 30 years of industry experience, will be responsible for leading profitable growth and delivering strong returns across all of Viad's travel and recreation assets.
"David is a seasoned resorts and hospitality executive with deep expertise in national park and mountain properties," said Moster. "He has a proven track record of strong leadership, the establishment of award-winning service and employee culture, strategy execution and innovation, and has achieved great success running large, complex, global service organizations. David's skills and experience make him the right leader to take our Travel & Recreation Group to the next level as we continue to drive scale, customer advocacy, efficiencies, and strong returns on investment through our Refresh-Build-Buy strategic initiatives."
Most recently, Barry served as the president and chief executive officer of Trust Company of America where he led the company through a period of expansive growth. Prior to that, he was the chief executive officer of the Alpine Helicopters/Canadian Mountain Holidays ("CMH") group of companies, where his leadership in hospitality and service led to CMH being ranked by National Geographic as one of the top ten travel experiences in the world. Barry also previously served as the chief operating officer of a $500 million division of public company Intrawest Corporation where he helped build its U.S. business to six mountain resorts, all with significant regulatory relationships with local, provincial, state and federal governments , neighboring communities and other stakeholders.
"I am excited to join Viad and return to my roots in the travel and hospitality business," stated Barry. "Viad's Travel & Recreation Group has a base of unique properties in iconic destinations that are well-situated for growth. Viad also has the vision, resources and intent through its strategic growth initiatives to increase its asset base and create further economies of scale for the business. I look forward to working with the talented teams at Brewster Travel Canada, Glacier Park, Alaska Denali Travel and Viad to build on the solid foundation already in place and execute an exciting growth strategy."
Viad's Travel & Recreation Group currently operates in four national park markets, with a portfolio of tourism assets that includes 12 lodging properties, four recreational attractions, in-bound packaged tours, sightseeing and other ground transportation services that delivered $120.5 million in revenue with an EBITDA margin of 30.2 percent during 2014.
Moster concluded, "We want to more than double the size of the Travel & Recreation business quickly, but prudently, in a manner that increases shareholder value. There is also an opportunity for the centralization of teams and resources around centers of excellence that can readily support new geographies and properties. I have every confidence that David is the right leader to help us accomplish our goals for the Travel & Recreation Group and I'm excited to welcome him to the team."
Viad is an S&P SmallCap 600 company. Viad operates through its Marketing & Events Group, composed of Global Experience Specialists and affiliates, and its Travel & Recreation Group, composed of Brewster Travel Canada, Glacier Park, Inc. and Alaska Denali Travel. For more information, visit the Company's Web site at www.viad.com.
As provided by the safe harbor provision under the Private Securities Litigation Reform Act of 1995, Viad cautions readers that, in addition to historical information contained herein, this press release includes certain information, assumptions and discussions that may constitute forward-looking statements. These forward-looking statements are not historical facts, but reflect current estimates, projections, expectations, or trends concerning future growth, operating cash flows, availability of short-term borrowings, consumer demand, new or renewal business, investment policies, productivity improvements, ongoing cost reduction efforts, efficiency, competitiveness, legal expenses, tax rates and other tax matters, foreign exchange rates, and the realization of restructuring cost savings. Actual results could differ materially from those discussed in the forward-looking statements. Viad's businesses can be affected by a host of risks and uncertainties. Among other things, natural disasters, gains and losses of customers, consumer demand patterns, labor relations, purchasing decisions related to customer demand for exhibition and event services, existing and new competition, industry alliances, consolidation and growth patterns within the industries in which Viad competes, acquisitions, capital allocations, adverse developments in liabilities associated with discontinued operations and any deterioration in the economy, may individually or in combination impact future results. In addition to factors mentioned elsewhere, economic, competitive, governmental, technological, capital marketplace and other factors, including terrorist activities or war, a pandemic health crisis and international conditions, could affect the forward-looking statements in this press release. Additional information concerning business and other risk factors that could cause actual results to materially differ from those in the forward-looking statements can be found in Viad's annual and quarterly reports filed with the Securities and Exchange Commission.
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SOURCE Viad Corp