NEW YORK, Oct 21 (Reuters) - Travel and lodging operator

Viad Corp ( VVI ) on Monday agreed to sell its events and

conferences business GES to private equity firm Truelink Capital

for $535 million, according to a statement seen by Reuters.

The sale of GES would leave Viad ( VVI ) with its attractions and

hospitality unit Pursuit, allowing the company to focus on a

business that operates lodges and tours for travelers in

national parks and cities such as Vancouver, Reykjavik, Las

Vegas and Chicago.

The Scottsdale, Arizona-based company, which is valued at

$1.4 billion including debt, will rebrand as Pursuit and operate

under the ticker "PRSU" on the New York Stock Exchange after the

close of the deal, which is expected by the end of the year.

David Barry, the current president of the Pursuit unit, will

become the CEO of the rebranded company.

"We think the sale (of GES) will unlock our high-growth,

high-return Pursuit business, allowing it to command a much

higher trading multiple as a pure-play attractions and

hospitality company that has strong growth prospects around the

world," Barry said in an interview.

The move comes as the global tourism industry has expanded

at a rapid pace after the pandemic, boosted by increased

spending from consumers. A record $1 out of every $10 spent

globally in 2024 will be on travel as people are booking more

hotels, cruises and flights compared to previous years,

according to an annual report by the World Travel and Tourism

Council, a non-profit membership organization.

Pursuit operates 14 attractions and 27 lodges in the U.S.,

Canada and Iceland in destinations including the Banff National

Park and Glacier National Park. GES operates an exhibition and

conference management business, as well as a marketing agency

called Spiro.

Viad ( VVI ) is the successor company of the bus operator The

Greyhound Corporation, which was founded in 1926 and reshaped

into a financial services company over the years. Greyhound then

entered the consumer products sector and became Dial Corp, which

was renamed Viad ( VVI ) after the consumer products unit was spun off

in 1996.

The conglomerate divested most of its businesses - including

the Greyhound bus line - over the decades, eventually leaving

the successor company with the GES and Pursuit units.

Moelis and law firm Latham & Watkins advised Viad ( VVI ) on the

deal.