donderdag 28 januari 2021

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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.

Tourism 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

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