Pierre & Vacances: Q1 turnover for the year ending 30 September 2013
Like-for-like accommodation turnover up 1.4%*
Change in property development turnover in line with the planned phasing of property development programmes,
Property reservations higher than in year-earlier period
Center Parcs project in the Vienne region
After obtaining the administrative authorisations, the Group successfully began its programme to sell the 800 cottages at the Center Parcs Vienne to institutional investors (340 cottages reserved representing a total of almost ?95m excluding tax) and to individual investors.
Work is due to start in Q1 2013 for an opening to the public in Q2 2015.
* On a like-for-like basis, turnover has been adjusted for the impact of the shift in the French school holidays and for Center Parcs Europe, the harmonisation of internal commission fees on turnover at the Dutch, German and Belgian Center Parcs (increase in accommodation turnover and corresponding decrease in "supplementary income".