Pierre et Vacances
 |
|
| Société anonyme | |
| Traded as | Euronext: VAC |
| Industry | Tourism Hospitality Real estate development |
| Founded | 1967 |
| Founder | Gerard Brémond |
| Headquarters | Paris, France |
|
Area served
|
Europe, Mauritius and France's overseas territories and islands |
|
Key people
|
Sven Boinet (Chairman and CEO) |
| Revenue | €1.47 billion (2011) |
| €19.80 million (2011) | |
| €10.50 million (2011) | |
| Total assets | €1.67 billion (2011) |
| Total equity | €493.74 million (2011) |
|
Number of employees
|
7,455 (2011) |
| Website | www.pierreetvacances.co.uk |
Groupe Pierre & Vacances Center Parcs (French pronunciation: [ɡʁup pjɛʁ e vakɑ̃s sɑ̃te paʁks]) specializes in tourism services, providing holiday and entertainment villages, leisure activity residences and hotels under the brands Pierre & Vacances, Maeva, Center Parcs,Sunparks, and Adagio (the last in partnership with Accor). The headquarters of the company is in France and the core area of the company's activities is France, but it also has facilities in Belgium, Mauritius, the Netherlands, Switzerland, Austria, Germany, Italy and Spain.
In 1967, Gerard Brémond (the future developer and main owner of Pierre et Vacances) and Jean Vuarnet (a French Olympic ski champion) entered partnership to open a skiing "village" and resort, called Avoriaz, which adopted innovative concepts. Vehicles were forbidden inside the village and children had their own sectors. The style of the buildings was designed to harmonize with the surrounding landscape.
Interest in the resort increased in 1973, when Brémond (a film buff) inaugurated a science fiction festival. The company adopted the name Pierre & Vacances in 1975, developing more resorts in the mountains and then on the coast. This new development area brought it accusations of being a company that "filled up the French coast with cement."
By the end of the 70s, the company started to leave the real estate development and refocused itself on tourist services. It introduced a concept called "Nouvelle Propriété" (New Property), which let the tourists actually own properties inside the Pierre & Vacances' vacation villages at a relatively low cost. The new owners also received a small, but guaranteed, percentage from rental fees and could exchange their properties with anyone within the Pierre & Vacances network. The new concept enabled the company to grow without taking on debt.
In 1988, Pierre & Vacances started to acquire rival companies. The first purchases included Geer (developments Cap Esterel, Les Coches and Port-Bourgenay on the Mediterranean Sea) and Sogerva and Port du Crouesty (facilities on the Atlantic coast).
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