Viad Corp. acquired the Banff International Hotel, as the Phoenix-based company looks to boost sales within its travel and recreation division by investing further in accommodations in and near North American national parks.
Viad paid $23.5 million for the 162-room hotel, which is located in the center of Banff, Alberta. The company said the hotel will boost 2012 earnings slightly.
Viad owns Brewster Travel Canada, which owns such entities as Banff Lake Cruises and the Banff Gondola. Brewster also owns Banff’s 135-room Mount Royal Hotel and the 32-room Glacier View Inn in nearby Jasper National Park.
Viad also owns lodging, restaurants and retail operations through Waterton-Glacier International Peace Park, which straddles the U.S.-Canada border. Follow Danny King on Twitter @dktravelweekly.