“We are continuing to develop the Group and expand internationally in order to better meet new customer expectations.”

le président et le directeur général Against a backdrop of economic crisis, the Group's two businesses, tourism and property development, resisted well in 2011: European holidaymakers are favouring holidays closer to home in order to reduce transport costs, while the property sector has benefited from a bearish stock-market with investors turning to refuge stocks.

However, the current backdrop has above all strengthened our tourism residence concept itself, given that it promotes reassuring values with a return to family and friends and high-quality holidays. Furthermore, we benefit from size effects, since our brands are known and recognised throughout Europe and are reassuring for consumers. Finally, this resilience has also stemmed from the progress made in our transformation plan.

But the strength of a Group is also reflected in its ability to innovate. A number of developments are soon to enrich our tourism network: in France, a new Center Parcs in the Vienne region with an animal-based theme is planned for 2015. In the Île-de-France region, the first building permits for Villages Nature were fi led for at end-2011, in line with the project's schedule. In addition, we are continuing to expand internationally, in Morocco and Spain and other European countries via Adagio, which has now taken on a new dimension with the 100% integration of Citéa.

Pierre et Vacances

Euronext Paris - 06/12/2019 - 17,16 €

Pierre et Vacances

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