Pursuit acquires Costa Rica’s Tabacón Thermal Resort & Spa

DENVER - Pursuit Attractions and Hospitality, Inc. (NYSE:PRSU) has acquired Tabacón Thermal Resort & Spa in Costa Rica’s Arenal region, the company announced in a press release Wednesday.

The acquisition marks Pursuit’s entry into its fourth country of operation and represents a strategic expansion into a year-round destination that complements its existing North American portfolio. The move comes as the company demonstrates strong revenue growth, with InvestingPro reporting a remarkable 189% increase in the last twelve months.

Tabacón spans 570 acres of rainforest and features Costa Rica’s largest network of naturally flowing hot springs. The property includes a five-star eco-luxury resort with 105 rooms, a spa, and dining facilities. The acquisition also encompasses the nearby Choyín Río Termal hot springs attraction.

"Tabacón Thermal Resort & Spa exemplifies the immersive, place-based experience we aim to deliver—rooted in natural wonder, cultural richness, and a strong commitment to sustainability," said David Barry, President and CEO of Pursuit.

The resort holds a five-star rating from the Costa Rican Tourism Institute and has achieved the Elite Level certification under the Costa Rica Sustainability in Tourism Program.

Andrey Gomez, General Manager of Tabacón Thermal Resort & Spa, stated, "We are proud to become part of a global brand who like us, provide exceptional and authentic hospitality experiences in stunning and iconic destinations."

Costa Rica offers counter-seasonal benefits to Pursuit’s operations in the United States, Canada, and Iceland, providing year-round demand potential. While the company’s stock has experienced a 30% decline over the past six months, analysts maintain optimism with price targets ranging from $38 to $41. For deeper insights into PRSU’s valuation and growth potential, investors can access the comprehensive Pro Research Report, available exclusively on InvestingPro.

BofA Securities, Inc. served as financial advisor to Pursuit for the transaction, with Arias Law providing legal counsel.

Pursuit operates 17 attractions and 29 lodges across its global portfolio, according to the company statement based on the press release.

In other recent news, Pursuit Attractions and Hospitality has been the focus of several analyst reports and company developments. Stifel analysts reiterated their Buy rating for the company, maintaining a price target of $38. They highlighted Pursuit’s strong same-store yield growth and capital deployment opportunities, which are expected to support its pricing power and growth strategy. Meanwhile, Craig-Hallum initiated coverage with a Buy rating and a $40 price target, noting the company’s transition to a higher growth, higher margin entity after the sale of its GES business. This restructuring has improved Pursuit’s balance sheet, positioning it for potential mergers and acquisitions.

Additionally, Pursuit has appointed Mike Bosco as the new Senior Vice President and Chief Accounting Officer, effective July 1, 2025. Bosco, who joins from Vail Resorts, will lead global accounting operations and collaborate on strategic goals. This leadership change is part of Pursuit’s efforts to enhance its growth and shareholder value. Both Stifel and Craig-Hallum analysts see Pursuit as well-positioned for growth, with the potential for upward revisions to future estimates. These developments reflect Pursuit’s ongoing focus on expansion and operational improvement.

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