Pierre & Vacances : Strategic plan ahead of schedule, good visibility over 2024
>Feedback from conference call - At the meeting held to present FY 2022-23 results, management highlighted the following keypoints:Tourism revenue growth, at 13% YoY (+28% vs. 2019), is mainly attributable to an increase in average letting rates (+8.8%), reflecting the strategy rolled out to upgrade and renovate facilities (95% of the CP residences renovated with a more premium cottage mix; P&V brand portfolio streamlined and low-performing sites slimmed down, et...Pierre & Vacances is engaged in the market of local tourism by operating apartments and homes, or beds, located primarily in France (in mountain, seaside and countryside resorts, cities and the French West Indies), as well as in the Netherlands, Germany, Belgium, Italy and Spain. Co. develops its activities through two lines of business: the Property Development business (building and marketing of the residences and villages in France, Italy and Spain) and the Tourism business (operating and marketing of holidays in residences and villages under the Pierre & Vacances, Maeva, Adagio, Residences MGM, Hotels Latitudes, Center Parcs Europe and Sunparks brands).
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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