Pierre & Vacances : 2024 plan: drivers identified to fuel growth and improve margins in tourism – target price raised to € 30 vs € 23
>2024 plan: drivers clearly identified for speeding up growth - Yesterday, P&V presented its strategic plan out to 2024, led by its new CEO Yann Caillère. This plan accelerates the rollout of the 2022 plan, i.e. optimisation of the existing base by supporting the ongoing move upscale. This is based on an investment programme (€ 400m, most of which is financed by third parties) for renovating the tourism base (expected increase of 3.7% per year in average prices) alo...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).
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