(AOF) – Pierre & Vacances-Center Parcs posted growth in revenue from its tourism activities of 20% to 704.7 million euros in the 1st half of 2022/2023, with sustained activity in the 2nd quarter (+20 .3%), in the wake of the 1st quarter (+19.4%). The group is raising its annual forecasts, with revenue from tourism activities at more than 1.7 billion euros (vs. 1.66 billion previously), Group adjusted EBITDA at more than 130 million euros (vs. 105 million), and operating cash flow generation of more than 50 million euros.
Pierre & Vacances-Center Parcs explained this increase by the good performance of the first half, the level of reservations to date, the group’s ability to mitigate the effects of inflation on its margins (cost control) and the proper execution of its ReInvention strategic plan.
First-half sales for the group as a whole amounted to 741.8 million euros, up 16.5%.
According to Franck Gervais, Managing Director of Pierre & Vacances-Center Parcs, these performances, “driven by domestic and cross-border customers, illustrate the growing attraction of travelers for local, proximity tourism, confirming the relevance of the Group’s positioning”. They “also reflect the strategy of moving the offer upmarket, with an increase in average selling prices and an increase in occupancy rates”.
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World tourism still on the rise
Over the first nine months of 2022, 700 million tourists traveled internationally, more than double (+133%) the figure recorded for the same period in 2021. This figure reached 63% of 2019 levels , which should allow the sector to reach 65% of its pre-pandemic levels in 2022. This result is due to a strong level of demand and the gradual lifting of restrictions in a large number of countries. Europe is significantly supporting this rebound with the arrival of 477 million people between January and September 2022 (68% of the global total), reaching 81% of the pre-covid level. Tourism there is driven by strong intra-regional demand and travel from the United States. Some destinations recorded notable increases in receipts, including Serbia, Romania, Turkey, Latvia, Portugal, Pakistan, Mexico, Morocco and France.