The Pierre & Vacances-Center Parcs Group Presents Its New Strategic Plan Reinvention 2025
The Pierre & Vacances-Center Parcs Group (Paris:VAC) announces today its new strategic plan for 2025, Reinvention 2025.
“The Covid-19 pandemic has accelerated the transformation of the tourism industry and created new customer expectations. Families want modern, authentic, fun, useful, relaxing and instructive holidays, to experience unforgettable moments together, from one generation to another” states Franck Gervais, CEO of the Pierre & Vacances Center Parcs Group since January 2021.
“The aim of the Reinvention 2025 strategic plan is to make the Group a pioneering leader for our vision of a new and reinvented local tourism, that is more sustainable, 100% experience-based, modern and valuing creating. While we can rely on our Group’s outstanding assets including brands with strong reputations, loyal customers and committed teams, we are going to turn a significant and radical strategic corner to reinvent ourselves and place the Group back on a new positive trajectory, that is sustainable, modern and profit-generating.
Bolstered by this vision, we will approach 2025 on the basis of three major decisions that reflect the Group’s purpose1:
- A radical modernisation and wide-reaching premiumisation of our offer, underpinned by additional investments relative to the previous plan and rounding out the more than €700 million renovation programme mainly financed by their owners at the Center Parcs domains.
- The switch from a host-based offer to a 100% experience-based offer, that is more digital, personalised and service-oriented.
- Ambitious and responsible property development, with new concepts, placing our property development expertise at the service of customer experience.
Our strategy, co-constructed with our business lines, is set to result in robust earnings growth and increased cash generation.
Today we are a key player in family tourism in Europe. Tomorrow we will be the leading pioneer for a new reinvented local tourism that is modern, fun, enchanting and compelling”.
“Réinvention 2025”: strategic decisions and associated targets
Premiumisation & modernisation
- Additional and continuous investments: €430 million financed by the Group over 5 years, 60% of which for the Center Parcs domains,
- A massive renovation plan for the Center Parcs domains: €715 million financed for 90% by our institutional partners, for the renovation of 100% of the domains:
- Change in mix: 62% of accommodation in the premium category or higher in 2025 (+16pts vs 2019),