Page 1 Page 2 Page 3 Page 4 Page 5 Page 6 Page 7 Page 8 Page 9 Page 10 Page 11 Page 12 Page 13 Page 14 Page 15 Page 16 Page 17 Page 18 Page 19 Page 20ADVENTURE DESTINATIONS 2016 for ADI had few challenges other than a market that continues to shrink with a troubled economy. Adventure Destinations took a few cost-cutting measures throughout the 2016 season including relocating the office to downtown Saskatoon, joining the team at PIC Group. Tough decisions were made reducing some staff, both at Thompson’s Camps and at the ADI office, reducing payroll expenses. Selwyn Lake lodge had another tough year with guest numbers down from 161 in 2015 to 118 for 2016. Revenues were down and expenses were up with much of the expenses resulting from moving staff by aircraft during the slow and empty guest dates. Selwyn continues to look at reducing operating cost in the future and will shorten the season by as much as 50 per cent to reduce expenses for 2017. Twin Falls Lodge had a relatively decent year considering guest numbers were down drastically from 2016. Guest numbers dropped from 189 to 122, with only 13 returning guests from the previous year. Sticking to our price contributed to the reduced number of past guests, who had become accustomed to heavy discounting by previous management. Reducing expenses minimized the losses for Twin Falls Lodge in the 2016 season and proved to us that our product is a great value. Twin Falls will grow, welcoming a different clientele not previously acknowledged. The guest numbers are expected to get much stronger, especially when the resource sector rebuilds. Our store, the Churchill River Trading Post, continues to struggle with profitability. Inventory issues are our main cause of loss. Our only solution is better inventory control. Thompson’s Camps went through a much-needed management change. We spent the spring of 2016 catching up with past guests. Revenues finished ahead of budget for 2016. Expenses were up slightly as a substantial amount of money was spent improving the exteriors of most of our accommodations. This will protect our assets for many years. Outpost revenues were down again this year due to the rising cost of airfare. Bookings are up considerably for 2017 compared to the same time last season. We have some positive momentum and the most basic focus is on increasing our guest numbers. - Ron Striker SALES: $2,170,736 CURRENT ASSETS: $305,462 TOTAL ASSETS: $6,814,058 17 17 PIC_AnnualReport_Final-Alternate_2.indd 17 2016-12-01 8:42 AM