On May 16, 2019, we acquired the Belton Chalet in Glacier National Park for total cash consideration of $3.2 million. Transaction costs associated with the acquisition were $0.3 million, which are included in “Cost of services” in the Condensed Consolidated Statements of Operations. These assets have been included in the consolidated financial statements from the date of acquisition.

On June 8, 2019, we acquired a 60% equity interest in Mountain Park Lodges’ group of seven hotels and an undeveloped land parcel located in Jasper National Park for total consideration of $100.6 million Canadian dollars (approximately $76 million U.S. dollars).

The seven Mountain Park Lodges properties include: Sawridge Inn and Conference Centre (152 guest rooms); Pyramid Lake Resort (62 guest rooms); The Crimson Hotel (99 guest rooms); Chateau Jasper (119 guest rooms); Pocahontas Cabins (57 guest rooms); Marmot Lodge (107 guest rooms); and Lobstick Lodge (139 guest rooms).

As the majority owner of these properties we consolidate 100% of the results of operations in our consolidated financial statements and record the 40% owners’ share of the income or loss attributable to non-redeemable noncontrolling interest.

The following table summarizes the preliminary recording of the fair value allocation of the assets acquired and liabilities assumed as of the date of acquisition. Due to the recent timing of the acquisition, the purchase price allocation is not yet final and is subject to change within the measurement period (up to one year from the acquisition date) as the valuation of property and equipment, intangible assets, and working capital is finalized.

(in thousands)
Purchase price paid as:
Cash			$	70,975
Additional purchase price payable for tax liability				4,874
Net working capital adjustment				(6	)
Consideration transferred				75,843
Right to manage				(1,276	)
Purchase price, net				74,567

Fair value of net assets acquired:
Accounts receivable	$	369
Inventories		173
Prepaid expenses		324
Property and equipment		115,878
Intangible assets		9,218
Total assets acquired		125,962
Accounts payable		366
Advanced deposits payable		449
Deferred tax liability		11,463
Other liabilities		137
Total liabilities assumed		12,415

Noncontrolling interest equity		49,711
Total fair value of net assets acquired				63,836
Excess purchase price over fair value of net assets acquired (“goodwill”)			$	10,731

Under the acquisition method of accounting, the purchase price as shown in the table above is allocated to the tangible and identifiable intangible assets acquired and liabilities assumed based on their estimated fair value. The excess purchase price over the fair value of net assets acquired was recorded as “Goodwill.” Goodwill is included in the Pursuit business group. The primary factor that contributed to the purchase price resulting in the recognition of goodwill related to future growth opportunities when combined with our other businesses. Goodwill is not deductible for tax purposes. The estimated values of current assets and liabilities were based upon their historical costs on the acquisition date due to their short-term nature.

Transaction costs associated with the Mountain Park Lodges were $0.7 million in 2019 and $0.1 million in 2018, which are included in “Corporate activities” in the Condensed Consolidated Statements of Operations. These assets and results of operations have been included in the consolidated financial statements from the date of acquisition. During the three months ended June 30, 2019, revenue related to the Mountain Park Lodges was $2.8 million and operating income was $1.5 million.

Identifiable intangible assets acquired in the Mountain Park Lodges acquisition were $9.2 million and consist primarily of customer relationships and trade name. The weighted average amortization period related to the intangible assets is approximately 10 years.

The following table summarizes the unaudited pro forma results of operations attributable to Viad, assuming the Mountain Park Lodges acquisition had been completed on January 1, 2018:

	Three Months Ended				Six Months Ended
(in thousands, except per share data)	June 30, 2019		June 30, 2018		June 30, 2019			June 30, 2018
Revenue	$	406,657	$	371,099	$	696,134		$	652,438
Depreciation and amortization	$	15,839	$	16,476	$	30,348		$	30,926
Income (loss) from continuing operations	$	12,862	$	24,104	$	(5,898	)	$	11,151
Net income (loss) attributable to Viad	$	13,578	$	23,718	$	(4,651	)	$	12,785
Diluted income (loss) per share	$	0.66	$	1.16	$	(0.24	)	$	0.62
Basic income (loss) per share	$	0.66	$	1.16	$	(0.24	)	$	0.62

In March 2018, we acquired the Maligne Canyon Restaurant and Gift Shop for total cash consideration of $6.0 million Canadian dollars (approximately $4.6 million U.S. dollars). Transaction costs associated with the acquisition were $24 thousand in 2018, which are included in “Cost of services” in the Condensed Consolidated Statements of Operations. These assets have been included in the consolidated financial statements from the date of acquisition.