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The Westin Maui Unveils Elevated Guest Journey at Hōkūpaʻa Tower

The Westin Maui Unveils Elevated Guest Journey at Hōkūpaʻa Tower

Business Wire3 days ago
KĀ'ANAPALI, MAUI, Hawaii--(BUSINESS WIRE)-- The Westin Maui Resort & Spa, Kāʻanapali is proud to unveil an elevated guest experience for its Hōkūpaʻa Tower, further enhancing its position as the only luxury offering on Kāʻanapali Beach. From a fully privatized arrival and check-in at The Lānai to a suite of thoughtful new amenities, Hōkūpaʻa guests now enjoy a seamless transition into a stay defined by personalized service, holistic wellness, and authentic Hawaiian culture.
Upon arrival, Hōkūpaʻa guests are greeted with a lei then escorted to the tower's private lounge, The Lānai for a brief tour of the resort grounds and check-in, far from the bustle of the main lobby. Guests are welcomed with a celebratory beverage and a Lānai staff member then offers an introduction to lounge amenities including complimentary breakfast and dinner, craft cocktails, and daily cultural programming. If rooms are not immediately available, guests may relax in The Lānai with a cocktail or light lunch near the infinity pools.
Additional Hōkūpaʻa perks now include seamless access to the Heavenly Spa lanai and its pool area for guests over the age of 18. New plush pool towels are also now available in-room, and towel cards are no longer required—guests can simply show their Hōkūpaʻa wristbands at the towel hut. Guests also receive upgraded custom Hōkūpaʻa water bottles for refilling at various stations around the property.
Cultural programming remains at the heart of the Hōkūpaʻa experience with daily activities such as traditional lei making, ulana niu (coconut weaving), and Mōʻōlelo Lahaina—a talk-story session honoring the town's rich history.
'This is the Hōkūpaʻa experience as it was always intended—personal, elevated, and yet profoundly rooted in the place and culture of Maui,' said Josh Hargrove, general manager of The Westin Maui. 'Our team has worked tirelessly to bring this vision to life, and we are proud to offer the only luxury experience on Kāʻanapali Beach, America's top-rated beach.'
Travelers can experience these enhancements with the Rediscover Hōkūpaʻa package featuring up to 35 percent off for Marriot Bonvoy members (30 percent off for non-members), and a $100 daily resort credit. The discount applies for both guestrooms and suites and is available to book now at this link, with stay dates available through summer 2026.
For more information, visit www.westinmaui.com. Click here for images.
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Pursuit Reports 2025 Second Quarter Results
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Business Wire

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Attractions ticket revenue growth was particularly strong with healthy increases in both visitors and effective ticket prices. Net income was $5.6 million as compared to $29.3 million in the prior year period. The year-over-year change was primarily driven by the sale of GES in 2024. Our income from continuing operations attributable to Pursuit was $4.5 million as compared to a loss from continuing operations of $0.4 million in the prior year period. During the 2025 second quarter, we completed a legacy pension termination to improve long-term financial flexibility, resulting in a largely non-cash, pre-tax charge of approximately $5.4 million. Our adjusted net income* was $10.1 million as compared to $0.2 million in the prior year. This adjusted net income excludes income from discontinued operations and other non-recurring expenses, including the legacy pension termination charge, as detailed in the non-GAAP reconciliation tables that accompany this press release. 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Our guidance is based on certain assumptions, including (1) recovery of Jasper leisure travel, (2) approximately $5 million to $7 million of adjusted EBITDA from the three tuck-in acquisitions completed during the fourth quarter 2024, (3) approximately $3 million of adjusted EBITDA from the Tabacón acquisition completed on July 1, 2025, (4) strong organic growth from continued guest experience improvements, demand for authentic experiential travel in iconic places, and focus on revenue and cost management, and (5) a revised exchange rate assumption of $0.72 (previously $0.69) between the Canadian Dollar and the U.S. Dollar for our operations in Canada. There continues to be uncertainty around the economic and geopolitical outlook, and the impact that may have on travel and consumer behavior. *We have not quantitatively reconciled our guidance for adjusted EBITDA to our most comparable GAAP financial measure because certain reconciling items that impact this metric, including provision for income taxes, interest expense, restructuring or impairment charges, transaction-related costs, and start-up costs have not occurred, are out of our control, or cannot be reasonably predicted. Accordingly, reconciliations to the nearest GAAP financial measure are not available without unreasonable effort. Please note that the unavailable reconciling items could significantly impact our results as reported under GAAP. Conference Call Details Management will host a conference call to review second quarter 2025 results on Wednesday, August 6, 2025, at 5 p.m. (Eastern Time). A live audio webcast of the call will be available in listen-only mode through the " Events & Presentations" section of our website, where we will also post our earnings press release and an earnings presentation prior to the call. The live call can also be accessed by dialing (404) 975-4839 or (833) 470-1428 and entering the access code 003370. To avoid wait time and bypass speaking with an operator to join the call, participants can pre-register using the following registration link: After registering, a calendar invitation will be sent that includes dial-in information as well as unique codes for entry into the live call. We recommend that you register in advance to ensure access for the full call. A replay of the call will be available on our website shortly after the conference call and, for a limited time, by dialing (929) 458-6194 or (866) 813-9403 and entering the access code 250197. Additionally, we posted a supplemental earnings presentation, containing our financial results, trends and outlook, on the " Investors" section of our website prior to the conference call. We will refer to this presentation during the call. About Pursuit Pursuit Attractions and Hospitality, Inc. (NYSE: PRSU) is an attractions and hospitality company that owns and operates a collection of inspiring and unforgettable experiences in iconic destinations in the United States, Canada, Iceland, and Costa Rica. Pursuit's elevated hospitality experiences include 17 world-class point-of-interest attractions and 29 distinctive lodges, along with integrated restaurants, retail and transportation that enable visitors to discover and connect with stunning national parks and renowned global travel locations. For more information, visit Forward-Looking Statements This press release contains a number of forward-looking statements. Words, and variations of words, such as 'will,' 'can,' 'may,' 'expect,' 'would,' 'could,' 'might,' 'intend,' 'plan,' 'believe,' 'estimate,' 'anticipate,' 'deliver,' 'seek,' 'aim,' 'potential,' 'target,' 'outlook,' and similar expressions are intended to identify our forward-looking statements. Such forward-looking statements include those that address activities, events or developments that Pursuit or its management believes or anticipates may occur in the future, including all statements regarding our expectations concerning the travel industry and the markets in which we operate; our expectations concerning our future financial performance, including our 2025 outlook and the related underlying assumptions; our growth plans and strategies, including with respect to investments, growth capital expenditures and acquisitions; our ability to opportunistically return capital to shareholders through share repurchases and other statements that are not historical fact. These forward-looking statements are subject to a host of risks and uncertainties, many of which are beyond our control, which could cause actual results to differ materially from those in the forward-looking statements. Important factors that could cause actual results to differ materially from those described in our forward-looking statements include, but are not limited to, the following: general economic and geopolitical uncertainty in key global markets and a worsening of global economic conditions; seasonality of our businesses; the competitive nature of the industries in which we operate; travel industry disruptions; changes in consumer tastes and preferences for recreational activities; natural disasters, weather conditions, accidents, and other catastrophic events; accidents and adverse incidents at our hotels and attractions; sufficiency and cost of insurance coverage; the impact of financial covenants on our operational and financial flexibility; risks of new capital projects not being commercially successful; our ability to fund capital expenditures; our ability to successfully integrate and achieve established financial and strategic goals from acquisitions; failure to adapt to technological developments or industry trends our inability to realize the full strategic, financial or operational benefits from the sale of the GES Business; conducting business globally; our exposure to currency exchange rate fluctuations; liabilities relating to prior and discontinued operations; the importance of key members to our business; labor shortages; our exposure to cybersecurity attacks and threats; compliance with laws governing the storage, collection, handling, and transfer of personal data and our exposure to legal claims and fines for data breaches or improper handling of such data; our exposure to litigation in the ordinary course of business; changes in federal, state, local or foreign tax laws; extensive environmental requirements; volatility in our stock price; and stock price and trading volumes affected by reports issued by securities industry analysts. For a more complete discussion of the risks and uncertainties that may affect our business or financial results, please see Item 1A, 'Risk Factors,' of our most recent annual report on Form 10-K filed with the Securities and Exchange Commission ('SEC'), as well as any future reports we may file with the SEC. We disclaim and do not undertake any obligation to update or revise any forward-looking statement in this press release except as required by applicable law or regulation. Availability of Information on Pursuit Website Pursuit routinely uses its investor relations website ( to post presentations to investors and other important information, including information that may be material. Accordingly, Pursuit encourages investors and others interested in Pursuit to review the information it makes public on its investor relations website. PURSUIT ATTRACTIONS AND HOSPITALITY, INC. ("PURSUIT") TABLE ONE - NOTES TO QUARTERLY AND FULL YEAR RESULTS (UNAUDITED) (A) Operating expenses (exclusive of depreciation and amortization) - The increase in operating expenses for the three months ended June 30, 2025 compared to the prior year period was primarily due to increases in variable costs associated with increased transaction volumes and revenues, including royalty and concession fees, labor expense, and cost of goods, as well as other inflationary cost increases, including an increase in allocated administrative expenses, $1.0 million of increased repairs and maintenance expense, and a $0.7 million increase in professional services. These increases were partially offset by the periodic remeasurement of the Sky Lagoon finance lease obligation, which resulted in an unrealized foreign exchange gain of $3.9 million in the second quarter of 2025 as compared to an unrealized gain of $0.2 million in the second quarter of 2024. (B) Selling, general, and administrative expenses - The increase in selling, general and administrative expenses is primarily due to higher transaction-related costs of $3.4 million during the three months ended June 30, 2025 and $8.3 million during the six months ended June 30, 2025 (primarily related to our transition to a standalone publicly-traded operating company in connection with the sale of the GES Business, as well as expenses associated with our acquisition of Tabacón), offset in part by a decrease in corporate overhead costs. (C) Other expense, net - The increase in other expense, net is primarily due to a $5.4 million settlement charge associated with the termination of the legacy Giltspur Inc. Employees' Pension Plan, which was reclassified from AOCL, during the three and six months ended June 30, 2025. (D) Income tax expense - The effective tax rate was 28.5% for the three months ended June 30, 2025 compared to 70.9% for the three months ended June 30, 2024, and a negative 5.1% for the six months ended June 30, 2025 compared to 4.0% for the six months ended June 30, 2024. The decrease in the effective rate for the three months ended June 30, 2025 compared to the prior year period was primarily attributable to a tax benefit recorded during the three and six months ended June 30, 2025 of $3.2 million associated with the release of valuation allowances recorded against Canadian net operating losses, as well as the termination of the legacy Giltspur, Inc. Employees' Pension Plan. (E) Income (loss) from discontinued operations - On December 31, 2024, we completed the sale of the GES Business. Accordingly, the operating results of the GES Business are included within discontinued operations for 2024. (F) Income (loss) per common share - Diluted income (loss) per common share is calculated using the more dilutive of the two-class method or if-converted method. The two-class method uses net income (loss) available to common stockholders and assumes conversion of all potential shares other than the participating securities. The if-converted method uses net income (loss) available to common stockholders and assumes conversion of all potential shares including the participating securities. Dilutive potential common shares include outstanding stock options, unvested restricted share units and convertible preferred stock. We apply the two-class method in calculating income (loss) per common share as unvested share-based payment awards that contain nonforfeitable rights to dividends and preferred stock are considered participating securities. Accordingly, such securities are included in the earnings allocation in calculating income (loss) per share. The adjustment to the carrying value of the redeemable noncontrolling interest is reflected in income (loss) per common share. The components of basic and diluted income (loss) per share are as follows: PURSUIT ATTRACTIONS AND HOSPITALITY, INC. ("PURSUIT") IMPORTANT DISCLOSURES REGARDING NON-GAAP FINANCIAL MEASURES This document includes the presentation of "Adjusted Net Income (Loss)", 'Adjusted EPS', "Adjusted EBITDA", and 'Adjusted EBITDA Margin', which are supplemental to results presented under accounting principles generally accepted in the United States of America ('GAAP') and may not be comparable to similarly titled measures presented by other companies. These non-GAAP measures are utilized by management to facilitate period-to-period comparisons and analysis of Pursuit's operating performance and should be considered in addition to, but not as substitutes for, other similar measures reported in accordance with GAAP. The use of these non-GAAP financial measures is limited, compared to the most comparable GAAP measures, because they do not consider a variety of items affecting Pursuit's consolidated financial performance as reconciled below. Because these non-GAAP measures do not consider all items affecting Pursuit's consolidated financial performance, a user of Pursuit's financial information should consider net income attributable to Pursuit as an important measure of financial performance because it provides a more complete measure of the Company's performance. Adjusted Net Income (Loss), Adjusted EPS, Adjusted EBITDA, and Adjusted EBITDA Margin are considered useful operating metrics, in addition to net income attributable to Pursuit, as potential variations arising from non-operational expenses/income are eliminated, thus resulting in additional measures considered to be indicative of Pursuit's performance. Management believes that the presentation of Adjusted Net Income (Loss), Adjusted EPS, Adjusted EBITDA, and Adjusted EBITDA Margin provide useful information to investors regarding Pursuit's results of operations for trending, analyzing and benchmarking the performance and value of Pursuit's business. Additionally, we calculate the impact of foreign exchange rate variances by converting non-United States Dollar results using comparative period exchange rates and determining the change from prior period reported results. (A) Transaction-related costs and other non-recurring expenses include: 1 Transaction-related costs represent expenses related to acquisition, divestiture, and other corporate development activities, including costs for integration, separation (sale of GES), diligence, feasibility, legal, and other costs. 2 Start-up costs include expenses primarily related to the development of our new Flyover attraction in Chicago and trailing expenses related to the Flyover Toronto lease exit. 3 Represents net expenses previously allocated to/from GES that do not qualify for discontinued operations treatment. 4 Includes certain non-recoverable Jasper insurance-related costs in 2025 and non-capitalizable fees and expenses related to our shelf registration in 2024. (B) Remeasurement of finance lease obligation attributable to Pursuit represents the non-cash foreign exchange loss/(gain) included within operating expenses related to the periodic remeasurement of the Sky Lagoon finance lease obligation that is attributed to Pursuit's 51% interest in Sky Lagoon. (C) The legacy pension termination represents a largely non-cash $5.4 million settlement charge associated with the termination of the legacy Giltspur Inc. Employees' Pension Plan, which was reclassified from AOCL, in Q2'25. (D) Preferred stock and unvested share-based payment awards that contain nonforfeitable rights to dividends are considered participating securities. Accordingly, such securities are included in the earnings allocation in calculating adjusted net income (loss) per common share unless the effect of such inclusion is anti-dilutive to total undistributed income attributable to Pursuit. 2024 ($ in thousands) Q1 Q2 Q3 Q4 FY Net income (loss) attributable to Pursuit $ (25,117 ) $ 29,311 $ 48,615 $ 315,735 $ 368,544 Net income (loss) attributable to non-redeemable noncontrolling interest (923 ) 1,807 7,178 (1,505 ) 6,557 Net income (loss) attributable to redeemable noncontrolling interest (203 ) (240 ) 71 (886 ) (1,258 ) Income from discontinued operations, net of tax (3,620 ) (29,742 ) (5,323 ) (386,918 ) (425,603 ) Interest expense, net 2,922 3,937 3,461 3,862 14,182 Income tax expense (benefit) (1,654 ) 2,772 10,507 (5,300 ) 6,325 Depreciation and amortization 9,763 11,182 11,277 10,738 42,960 Restructuring charges - 1 - 3,156 3,157 Impairment charges - - 6,110 41,462 47,572 Other expense, net (A) 310 308 255 43 916 Start-up costs (B) 1,940 20 207 99 2,266 Transaction-related costs (C) 7 55 654 2,159 2,875 Integration costs - - 2 (2 ) - SG&A costs previously allocated to GES (D) 892 622 1,013 1,049 3,576 Other non-recurring expenses (E) 75 63 17 3,966 4,121 Remeasurement of finance lease obligation (F) 1,004 (182 ) (1,113 ) 1,167 876 Adjusted EBITDA $ (14,604 ) $ 19,914 $ 82,931 $ (11,175 ) $ 77,066 Adjusted EBITDA Margin (39.2 %) 19.7% 45.5% (24.4%) 21.0% ** Change is greater than +/- 100 percent Expand (A) Includes a largely non-cash $5.4 million settlement charge associated with the termination of the legacy Giltspur Inc. Employees' Pension Plan, which was reclassified from AOCL, in Q2'25. (B) Start-up costs include expenses primarily related to the development of our new Flyover attraction in Chicago and trailing expenses related to the Flyover Toronto lease exit. (C) Transaction-related costs represent expenses related to acquisition, divestiture, and other corporate development activities, including costs for integration, separation (sale of GES), diligence, feasibility, legal, and other costs. (D) Represents net expenses previously allocated to/from GES that do not qualify for discontinued operations treatment. (E) Includes a charitable pledge to support Jasper's recovery in Q4'24 and certain non-recoverable insurance-related costs and non-capitalizable fees and expenses related to our shelf registration in 2024. (F) Remeasurement of finance lease obligation represents the non-cash foreign exchange loss/(gain) included within operating expenses related to the periodic remeasurement of the Sky Lagoon finance lease obligation.

Travel + Leisure Co. Announces Launch of Senior Secured Notes Offering
Travel + Leisure Co. Announces Launch of Senior Secured Notes Offering

Business Wire

time2 days ago

  • Business Wire

Travel + Leisure Co. Announces Launch of Senior Secured Notes Offering

ORLANDO, Fla.--(BUSINESS WIRE)-- Travel + Leisure Co. (NYSE:TNL) (the 'Company') announced today that it has launched a private offering (the "Offering") of $500 million aggregate principal amount of senior secured notes due 2033 (the "Notes"), subject to customary and market conditions. The Company intends to use the net proceeds of this Offering to redeem all of the Company's outstanding 6.60% secured notes due October 2025, towards repayment of outstanding borrowings under our revolving credit facility, to pay the fees and expenses incurred in connection with the Offering and, to the extent there are any remaining proceeds, for general corporate purposes which may include future debt paydowns. The Notes have not been registered under the Securities Act of 1933, as amended (the "Securities Act"), any state securities laws or the securities laws of any other jurisdiction, and may not be offered or sold in the United States, or for the benefit of U.S. persons, except pursuant to an applicable exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and applicable state securities or blue sky laws. Accordingly, the Notes are being offered only to persons reasonably believed to be "qualified institutional buyers," as that term is defined under Rule 144A of the Securities Act, or to non-"U.S. persons" in offshore transactions in accordance with Regulation S under the Securities Act. A confidential offering memorandum for the Offering of the Notes, dated as of today, is being made available to such eligible persons. The Offering is being conducted in accordance with the terms and subject to the conditions set forth in such confidential offering memorandum. This press release shall not constitute an offer to sell, a solicitation to buy or an offer to purchase or sell any securities. No offer, solicitation, purchase or sale will be made in any jurisdiction in which such offer, solicitation or sale would be unlawful. Any offer, or solicitation to buy, if at all, will be made only by means of a confidential offering memorandum. This press release does not constitute a notice of redemption of its 6.60% secured notes due October 2025. About Travel + Leisure Co. Travel + Leisure Co. is a leading leisure travel company, providing more than six million vacations to travelers around the world every year. The company operates a portfolio of vacation ownership, travel club, and lifestyle travel brands designed to meet the needs of the modern leisure traveler, whether they're traversing the globe or staying a little closer to home. With hospitality and responsible tourism at its heart, the company's nearly 19,000 dedicated associates around the globe help the company achieve its mission to put the world on vacation. Forward-Looking Statements This press release contains 'forward-looking statements' within the meaning of Section 27A of the Securities Act, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, conveying management's expectations as to the future based on plans, estimates and projections at the time the Company makes the statements. Forward-looking statements are any statements other than statements of historical fact. Forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. The forward-looking statements contained in this press release include statements related to the Offering and the use of proceeds therefrom. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Factors that could cause actual results to differ materially from those in the forward-looking statements include, but are not limited to, the acquisition of the Travel + Leisure brand and the future prospects and plans for Travel + Leisure Co., including our ability to execute our strategies to grow our cornerstone timeshare and exchange businesses and expand into the broader leisure travel industry through travel clubs; our ability to compete in the highly competitive timeshare and leisure travel industries; uncertainties related to acquisitions, dispositions and other strategic transactions; the health of the travel industry and declines or disruptions caused by adverse economic conditions (including inflation, recent tariff actions and other trade restrictions, higher interest rates, and recessionary pressures), travel restrictions, terrorism or acts of gun violence, political strife, war (including hostilities in Ukraine and the Middle East), pandemics, and severe weather events and other natural disasters; adverse changes in consumer travel and vacation patterns, consumer preferences and demand for our products; increased or unanticipated operating costs and other inherent business risks; our ability to comply with financial and restrictive covenants under our indebtedness; our ability to access capital and insurance markets on reasonable terms, at a reasonable cost or at all; maintaining the integrity of internal or customer data and protecting our systems from cyber-attacks; the timing and amount of future dividends and share repurchases, if any; and those other factors described in the Company's Annual Report on Form 10-K for the year ended December 31, 2024, filed with the SEC on February 19, 2025, and subsequent periodic reports filed with the SEC. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, subsequent events or otherwise.

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