(AOF) – Partouche unveiled its results for its 2020-2021 financial year (ended at the end of October) on Wednesday evening. Thus, the casino and hotel operator recorded a net loss (group share) of 51.9 million euros, compared with a net loss of 17.4 million euros in the 2019 financial year. -2020. For its part, EBITDA amounted to 13 million euros (-74.7%), representing a margin of 5.1% of turnover (compared to 14.9% a year earlier). Finally, turnover (already published) came to 255.7 million euros (-25.6%).
The 2020-2021 financial year was very strongly marked by the health crisis linked to the Covid-19 epidemic, which forced the group to stop most of its activities over a period slightly longer than the first half of exercise.
This represented, with some exceptions, approximately 6.5 months of closure for all the group’s casinos in the 2020-2021 financial year, compared to a cumulative duration of closure of establishments of around 3 months during the previous financial year. .
The group points out that activity picked up in the second half of the year.
Regarding its outlook, the group intends to resume its investments in the existing fleet. Thus, the Hyères casino will be partially renovated, as planned in its DSP, by 2024; and redevelopments are planned for the casinos of Saint Amand-les-Eaux, Forges-les-Eaux, La Tour-de-Salvagny, Annemasse, Palavas and La Grande Motte.
The next meeting for Partouche will be the publication of the turnover for the first quarter of 2021-2022 (November to January), on March 8.
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Hospitality & Leisure: new expectations from travelers
The sector suffered a 74% drop in tourist arrivals worldwide in 2020 according to the World Tourism Organization (UNWTO). At 500 million, these arrivals have fallen to their level of the early 1990s.
Globally, the sector lost 1.3 trillion dollars last year following the Covid-19 pandemic. A return to normal is expected for 2023, particularly under the effect of vaccination, with changing requirements.
Continued growth for major global hoteliers
In 2020, the hotel park of the major operators has progressed according to the firm MKG, with the exception of that of the Indian Oyo and the American Wyndham. The 54.3% contraction in its customer base pushes Oyo from second to ninth place, due to its decline in China (-75%). On the other hand, the three major Chinese groups (Jin Jiang, Huazhu, and BTH), which are among the top ten global operators, have continued to expand. Their domestic market, in the recovery phase from 2020, shows considerable needs.
Jin Jiang, which notably owns the French Louvre Hotels Group, has regained its place as number two in the world. As for the world leader, the American Marriott International, the growth of its park exceeded 3%, as well as for Accor, and it almost reached 5% for Hilton.
This expansion can be explained by the economic model of the major operators and by the appetite of investors, who are confident in the sector’s medium and long-term prospects.
Emergence of a new tourism
Local tourism, which has suffered the least from the health crisis, should emerge strengthened. On the other hand, business travel should continue to be penalized in the short term for health reasons and because of the reductions in company costs authorized by new tools (Teams, Zoom, etc.).
Travelers’ expectations have evolved. They are more sensitive to flexibility (possibilities of cancellation, flexible departure dates, etc.). Several tour operators believe that prices should increase to take into account the
and
s ecological costs and a rebalancing of wages. They believe that operators offering a differentiating experience should be the big winners from this crisis.