Pierre & Vacances-Center Parcs: First Quarter 2020/2021 Revenue
First quarter 2020/2021 revenue
In IFRS standards, Q1 2020/2021 revenue totalled €141.7 million (€98.7 million for the tourism activities and €43.1 million for the property development activities).
Restrictive measures implemented by various European governments to face the second wave of the coronavirus pandemic took a harsh toll on the Group’s Q1 revenue.
- In October, after positive momentum following on from Q4 of the previous financial year, the curfews and restrictive measures and the prospect of another lockdown placed a serious brake on reservations, especially for the October school holidays. Accommodation revenue over the month was down around 30% relative to October 2020.
- From 2 November to mid-December, the Group was obliged to close virtually all of its Pierre & Vacances and Center Parcs sites. Only the Dutch Center Parcs Domains remained open, albeit with a reduced offer (closure of bars and restaurants and a limited number of people in the Aquamundo).
- Over the last two weeks of December, despite good performances by the seaside sites, mainly in the French West Indies, revenue was down almost 80%, penalised by the ongoing closures of the Center Parcs domains in Germany and Belgium, a deteriorated offer at the sites operated (no catering or access to pool areas) and the opening of just nine mountain residences (or 15% of the Group’s offer in this destination), due to the closure of ski-lifts.
Bron en hele artikel: Business Wire