BILLINGS — A Denver-based hospitality company seeking to expand its holdings in the travel sector is buying a Montana company specializing in guided adventure tours.
Xanterra Parks & Resorts plans to announce Tuesday it has entered a deal to acquire Austin Adventures of Billings, formerly known as Austin-Lehman Adventures.
The deal is expected to close in October. Terms were not disclosed.
Xanterra CEO Andrew Todd says no major changes are planned. Austin-Lehman founder Dan Austin will continue as president.
Austin says the Montana tour company’s origins date back four decades. It has about 12 full-time employees and 50 seasonal guides in Montana, Seattle and the Netherlands.
Xanterra is owned by billionaire investor Philip Anschutz. It has concession contracts for Yellowstone and Glacier National Parks and other parks and resorts across the country.
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