The ReInvention Action Plan – First Assessment

Vanguélis Panayotis : It has been now almost a year and half since that you took over the challenge with Pierre & Vacances – Center Parcs. Can you share some feedbacks, where are you and where do you want to go?

Franck Gervais : I have been within the group for nearly 3 years now and it has been a pleasure. We have been through hard times due to Covid as everyone, but we really went out of this crisis period first by refinancing the company. So the financial situation of the company is healthy now.

We have a level of turnover which is bigger than our level of debt, and we never lived that before Covid. That was the first effect of the financial restructuring we went through. Then we got a new vision for tourism which is ReInvention. We want to reinvent this tourism which is made of contact, richness and discovery, that is a vision made of local tourism.

We are completely convinced that the future of tourism belongs to local tourism for people wanting to travel with their fellows close to their homes, around 300-500 kilometres away. With wide open eyes, they can discover richness that they didn’t know before.

This is where we stand, around this local tourism, and we have 4 brands for that. With Center Parcs, tourists immerge themselves in huge domains for 4 days where they can enjoy the beauty of nature.

We have Pierre & Vacances which is a residential apartment both in mountain and at seaside. There is Adagio which is the extended stay segment, and finally maeva which is an online distribution player. This is the whole spectrum that we offer, both to customers and investors.

Vanguélis Panayotis : 2022 results were...