Cavanaughs Will Purchase Portland-Based Ticket Seller

Forging further into the ticketing and entertainment business, Cavanaughs Hospitality of Spokane said Tuesday it is buying Fastixx, a Portland-based ticket seller. Terms of the deal were not disclosed. Fastixx will be rolled into Cavanaughs’ TicketsWest.com division, which locally operates G&B Select-a-Seat.

Acquiring Fastixx will boost Cavanaughs’ entertainment sales outlets in the region from 23 to 116, the company said.

Fastixx’s 93 locations are mostly clustered in the Interstate 5 corridor, giving Cavanaughs an increased sales area from the Canadian border to Northern California.

Cavanaughs has been targeting the Puget Sound area for future hotel property purchases, several of which could be made by year end.

In a statement, Cavanaughs President Don Barbieri said: “We have 19 hotels throughout this region, and our entertainment reach will now nicely overlay our hotels.”

Stephen Barbieri, Cavanaughs spokesman, said the overlap fits well with the company’s strategy to package entertainment to increase room occupancy.

Cavanaughs’ Fastixx purchase is expected to add to earnings in the fourth quarter, Barbieri said.

For the 12-month period ended July 31, Barbieri said, the addition of Fastixx would increase TicketsWest.com gross receipts by $22.7 million; from $53.2 million to $75.9 million.