The Pierre & Vacances-Center Parcs Group Presents Its New Strategic Plan Reinvention 2025 - Seite 2

- Target growth in RevPar of 35%, reinforced by our renovation track-record, (+43% noted for the 7 latest domains renovated),

- Further streamlining of the Pierre & Vacances network, with a strategy adapted by site category (extensive renovation of 18 top and mid-performing residences representing €16 million in capex over two years, for a RevPar growth target of 23% for the sites renovated).

Switch to 100% experience-based offers

- Accelerating the deployment of “Family booster”² activities at all the Center Parcs domains,

- Boosting on-site sales: growth in pre-stay activity reservations, new leisure and catering offer based on discovery and nature, flexibility and revenue management,

- A digitalised offer for a fluid customer experience,

- Overhaul of the customer journey and the sales strategy (pricing, revenue management and CRM),

- A new campsite range for a “slow tourism” offer

- Two new “well-being” and “organic/local” strategic partnerships by the end of June-2021.

Ambitious and responsible development serving the customer experience,

- Property development, a business partner serving a qualitative and quantitative development of the tourism offer: dynamic development of new projects and renovation works in France and Europe,

- A deliberate choice: investment rate³ representing 30% of accommodation revenue,

- Project selectivity: priority on renovation and smaller sized development projects better integrated into their environment,

- Developing alternative contract methods to leases: management contracts and franchises,

- New Lifestyle, Eco-resorts, Premium concepts, representing 90% of property development margin.

Financial performance⁴

- Revenue anticipated from the tourism businesses of €1,838 million in 2025 (€1,587 million in 2023), up €473 million relative to 2019, 80% generated by the Center Parcs domains.

- A reduction in support function expenses to reach 7.5% of revenue in 2025 (vs. 12.6% in 2019): €24 million in additional savings (on top of the €30 million initiated by the Change Up plan), €13 million of which on IT tools. A €32 million capex plan will support delivery of these cost savings.

- Target Group EBITDA of €275 million in 2025 (€146 million in 2023), €255 million of which generated by the tourism businesses (more than 75% of which related to Center Parcs Europe) and €20 million by the property development activities. Current operating margin on the tourism businesses ought to reach 5% in 2023 and 10% in 2025.