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Revenue and Related Contract Costs and Contract Liabilities (Tables) | 6 Months Ended
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Jun. 30, 2024
Revenue from Contract with Customer [Abstract] |
Summary of Changes in Contract Liabilities | Changes to contract liabilities are as follows:
(in thousands) |  |  |
Balance at December 31, 2023 |  | $ | 53,322 |
Cash additions |  |  | 152,091 |
Revenue recognized |  |  | (121,576 | )
Foreign exchange translation adjustment |  |  | (361 | )
Balance at June 30, 2024 |  | $ | 83,476 |
Summary of Changes in Contract Costs | Changes to contract costs are as follows:
(in thousands) |  |  |
Balance at December 31, 2023 |  | $ | 21,974 |
Additions |  |  | 53,822 |
Expenses |  |  | (40,295 | )
Foreign exchange translation adjustment |  |  | (57 | )
Balance at June 30, 2024 |  | $ | 35,444 |
Disaggregate GES and Pursuit Revenue by Major Product Line Timing of Revenue Recognition and Markets Served | The following tables disaggregate Pursuit and GES revenue by major service and product lines, timing of revenue recognition, and markets served: Pursuit
|  | Three Months Ended |  |  | Six Months Ended |
|  | June 30, |  |  | June 30, |
(in thousands) |  | 2024 |  |  | 2023 |  |  | 2024 |  |  | 2023 |
Services: |  |  |  |  |  |  |  |  |  |  |  |
Ticket revenue |  | $ | 43,707 |  |  | $ | 36,543 |  |  | $ | 61,512 |  |  | $ | 50,804 |
Rooms revenue |  |  | 24,578 |  |  |  | 22,106 |  |  |  | 32,182 |  |  |  | 29,696 |
Transportation |  |  | 3,338 |  |  |  | 3,689 |  |  |  | 5,193 |  |  |  | 5,634 |
Other |  |  | 4,427 |  |  |  | 3,333 |  |  |  | 6,147 |  |  |  | 4,700 |
Total services revenue |  |  | 76,050 |  |  |  | 65,671 |  |  |  | 105,034 |  |  |  | 90,834 |
Products: |  |  |  |  |  |  |  |  |  |  |  |
Food and beverage |  |  | 15,046 |  |  |  | 13,628 |  |  |  | 21,568 |  |  |  | 19,503 |
Retail operations |  |  | 10,105 |  |  |  | 9,175 |  |  |  | 11,830 |  |  |  | 10,800 |
Total products revenue |  |  | 25,151 |  |  |  | 22,803 |  |  |  | 33,398 |  |  |  | 30,303 |
Total revenue |  | $ | 101,201 |  |  | $ | 88,474 |  |  | $ | 138,432 |  |  | $ | 121,137 |
Timing of revenue recognition: |  |  |  |  |  |  |  |  |  |  |  |
Services transferred over time |  | $ | 76,050 |  |  | $ | 65,671 |  |  | $ | 105,034 |  |  | $ | 90,834 |
Products transferred at a point in time |  |  | 25,151 |  |  |  | 22,803 |  |  |  | 33,398 |  |  |  | 30,303 |
Total revenue |  | $ | 101,201 |  |  | $ | 88,474 |  |  | $ | 138,432 |  |  | $ | 121,137 |
Markets: |  |  |  |  |  |  |  |  |  |  |  |
Banff Jasper Collection |  | $ | 53,696 |  |  | $ | 46,905 |  |  | $ | 71,802 |  |  | $ | 64,519 |
Alaska Collection |  |  | 14,046 |  |  |  | 12,701 |  |  |  | 14,659 |  |  |  | 13,154 |
Glacier Park Collection |  |  | 15,311 |  |  |  | 13,730 |  |  |  | 16,744 |  |  |  | 15,185 |
FlyOver |  |  | 8,533 |  |  |  | 7,020 |  |  |  | 14,722 |  |  |  | 12,875 |
Sky Lagoon |  |  | 9,615 |  |  |  | 8,118 |  |  |  | 20,505 |  |  |  | 15,404 |
Total revenue |  | $ | 101,201 |  |  | $ | 88,474 |  |  | $ | 138,432 |  |  | $ | 121,137 |
GES
|  | Three Months Ended |  |  | Six Months Ended |
|  | June 30, |  |  | June 30, |
(in thousands) |  | 2024 |  |  | 2023 |  |  | 2024 |  |  | 2023 |
Service lines: |  |  |  |  |  |  |  |  |  |  |  |
Spiro |  | $ | 99,132 |  |  | $ | 80,368 |  |  | $ | 160,380 |  |  | $ | 140,730 |
GES Exhibitions |  |  | 180,977 |  |  |  | 154,534 |  |  |  | 356,817 |  |  |  | 324,031 |
Intersegment eliminations |  |  | (2,772 | ) |  |  | (3,065 | ) |  |  | (3,594 | ) |  |  | (4,796 | )
Total revenue |  | $ | 277,337 |  |  | $ | 231,837 |  |  | $ | 513,603 |  |  | $ | 459,965 |
Timing of revenue recognition: |  |  |  |  |  |  |  |  |  |  |  |
Services transferred over time |  | $ | 233,910 |  |  | $ | 196,668 |  |  | $ | 431,856 |  |  | $ | 389,645 |
Products transferred over time(1) |  |  | 18,548 |  |  |  | 16,038 |  |  |  | 32,971 |  |  |  | 28,979 |
Products transferred at a point in time |  |  | 24,879 |  |  |  | 19,131 |  |  |  | 48,776 |  |  |  | 41,341 |
Total revenue |  | $ | 277,337 |  |  | $ | 231,837 |  |  | $ | 513,603 |  |  | $ | 459,965 |
Geographical markets: |  |  |  |  |  |  |  |  |  |  |  |
North America |  | $ | 228,794 |  |  | $ | 177,408 |  |  | $ | 409,981 |  |  | $ | 358,247 |
EMEA |  |  | 71,175 |  |  |  | 62,644 |  |  |  | 130,136 |  |  |  | 112,181 |
Intersegment eliminations |  |  | (22,632 | ) |  |  | (8,215 | ) |  |  | (26,514 | ) |  |  | (10,463 | )
Total revenue |  | $ | 277,337 |  |  | $ | 231,837 |  |  | $ | 513,603 |  |  | $ | 459,965 |
(1) GES’ graphics product revenue is earned over time over the duration of an event as it is considered a part of the single performance obligation satisfied over time.

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