As we announced, we have returned to the acquisitions trail 

The past three years have been spent consolidating our fundamentals. Against an ever-changing backdrop, we have maintained our course, streamlined our organisation, optimised our resources, and backed strong concepts and growth markets such as city residences.

As announced, we managed to return to the acquisitions trail and made two major acquisitions over the year. Firstly, the acquisition of Sunparks has enabled us to reinforce our positions in northern Europe by rounding out the Center Parcs villages with a clearly segmented offering between three/four-star villages and five-star villages. Secondly, via the acquisition of Les Senioriales, we have enhanced our know-how and positioned ourselves in the robust market of residences for retired and active people.

Our development has also involved partnerships with other leading players. We had already joined forces with Euro Disney in an innovative project: Villages Nature in France. We are now also associated with Accor in the European city residences market.

Finally, we have expanded our activities on the international market. Firstly, in marketing, by addressing our European clients directly via Internet or by setting up offices locally. Secondly, in our projects, both by developing new Center Parcs in Europe and city residences and also rolling up Pierre & Vacances in Spain and soon in Morocco.

Sources of fresh growth are therefore well in place. Without straying from our dual-focus business of tourism and property development, we are constantly renewing our approach by identifying new projects and market segments which correspond to social changes in Europe. Having just celebrated our 40th birthday, the Group has continued to display extremely robust momentum this year.

Gérard Brémond
Chairman and Chief Executive Officer