A ROSY FUTURE IN STORE FOR LOCAL, ECO-RESPONSIBLE TOURISM

WAS 2008/2009 A TURNING POINT FOR THE TOURISM SECTOR, IN A CRISIS BACKDROP?
Gérard Brémond: The crisis has actually massively accelerated trends that have already been in place for several years. New information and communication technologies have revolutionised the way clients obtain information and decide which holiday to take. Opinions from other consumers posted on blogs are becoming increasingly important. Virtual images make the presentation of products increasingly sophisticated, while secure online payment facilitates Internet reservations. This technological revolution has also affected company management methods and decision-making processes.
In economic terms, revenue growth in industrialised countries is set to be lower than before the crisis. Populations are ageing and caring for the elderly is weighing on the revenues of the active population. The weight of public debt and competition from emerging markets are also restrictive factors. However, holidays are also considered as being a prime necessity. Choices are therefore set to increasingly favour local destinations, where the cost of transport is lower. Finally, environmental considerations are increasingly present. For a tourism player, services are now expected to be virtuous and eco-responsible as well as providing safe and comfortable travel.

IS THE PIERRE & VACANCES-CENTER PARCS GROUP WELL EQUIPPED TO FACE THIS CHANGING MARKET AND ITS NEW BEHAVIOUR PATTERNS?
G. B. : Our position as the European leader in local tourism responds well to budgetary restrictions and environmental awareness on the part of consumers. Our à-la-carte services offering is a means of adapting budgets without having to go forego holidays.
Our business model based on the synergies between tourism and property development also guarantees a sound balance. Since the end of April 2009 when the Scellier-Bouvard tax incentive was extended to tourism residences, our property businesses have posted sharp growth, and in terms of technological change, we are preparing the launch of a single web platform. Finally, ever since the Group was created in Avoriaz and until the very high-energy performance certification was granted to our latest Center Parcs in Moselle, in the Lorraine region, environmental factors have always been a priority. Indeed, one of our major projects, the Villages Nature, is based on the concept of sustainable development.

THE GROUP IS NOW CALLED PIERRE & VACANCES-CENTER PARCS. IS THIS ANOTHER STEP TOWARDS SYNERGY?
G. B. : We undertake all of our projects by constantly improving the unlocking of synergies between our two major brands, with the ongoing aim to optimise costs and revenues. This stance aims to boost the know-how and expertise of our staff and is a considerable asset for the future.

HOW DOES SVEN BOINET’S ARRIVAL AS CEO WITH THE GROUP’S STRATEGY?
G. B. : This new governance strengthens our specific focus since I myself will concentrate more on property development, France and international activities while Sven is to handle operating management of the Group and the tourism businesses more specifically. Against a backdrop of consolidation in European tourism, one of his missions will be to develop partnerships. At the same time we are to continue expanding via organic growth thanks to property development and acquisitions, although partnerships should help us to take secure and efficient positions in new markets.

SO DEVELOPMENT PROSPECTS ARE LOOKING GOOD?
G. B. : Potential is very high. We want to continue developing Center Parcs in France and Germany while for Sunparks we have opted for a flexible model, aimed at taking over a number of existing resorts in the Netherlands and Germany via lease contracts. For Pierre & Vacances, one of the main projects is the extension of Avoriaz, the Group’s founding site, with new highly innovative residences in terms of sustainable development. With our projects in Morocco, we aim to become the leading operator of tourism residences in the country. A first “Oasis Éco-Resort” is currently being designed and our development plan is targeting 1,740 apartments and homes by the end of 2012.
In Spain, development in coming years is focused on leasing existing buildings in all tourism regions with the aim of operating 5,000 apartments by 2013. Finally, Adagio City Aparthotel, Citéa and Orion International are continuing to expand in the very buoyant city residence market.

For me, there is therefore no doubt that there is plenty left for the Group to do in Europe!