(AOF) – Pierre & Vacances achieved its point of activity for its first quarter of 2021-2022 (October to December) on Thursday evening. Thus, the specialist in holiday villages and tourist residences published a turnover of 355.5 million euros over the period (according to its operational reporting). This figure jumped 112.7% compared to the first quarter of 2020-2021, which had been affected by the Covid-19 pandemic. Compared to its pre-crisis level, turnover fell by 5.2%.
In a still difficult health context, Pierre et Vacances evokes “remarkable performance”, with a turnover from tourist activities 2% higher than before the crisis.
With regard to the second quarter of the current financial year, Pierre et Vacances expects business to grow for the Center Parcs Europe division; comparable revenue for Pierre & Vacances in France, restated for the drop in the number of marketable apartments (-11% vs 2018/2019); and activity still in decline for Adagio, even if we observe an acceleration in the recovery of reservations.
These objectives take as a point of comparison the 2nd quarter of 2018/2019 (before Covid).
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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.