Pierre et Vacances-Center Parcs: Revenue Up Ahead of Planned Acquisition

(eap) The French Pierre et Vacances-Center Parcs Group increased its economic revenue as reported by 2.7 percent to around EUR 2 billion (EUR 1.99 billion) in the 2025/26 financial year. As the company announced last week, revenue from its core tourism business grew by 5.5 percent to almost EUR 1.98 billion. Under International Financial Reporting Standards (IFRS), consolidated revenue reached EUR 1.93 billion, an increase of 3.4 percent.

Center Parcs, the largest division by revenue, generated around EUR 1.21 billion, up 2.1 percent. Pierre et Vacances increased revenue by 5.4 percent to EUR 418.4 million. maeva&co recorded the strongest percentage growth, with revenue rising by 28.4 percent to EUR 103.6 million. The acquisition of the Camping Paradis and Ushuaïa Villages franchise networks contributed to this increase. Adjusted for this effect, the Group’s tourism revenue grew by around 4.9 percent.

Accommodation revenue rose by 3.9 percent to EUR 1.49 billion. The Group sold 3.1 percent more nights, while average letting rates increased by 0.8 percent. Higher VAT rates in the Netherlands and Belgium weighed on reported growth in average letting rates. Average occupancy improved by 1.3 percentage points to 75.4 percent. By contrast, economic revenue from the Group’s non-tourism activities fell by 70.6 percent to EUR 21 million. The company attributed this decline to its continued withdrawal from property activities and non-strategic businesses.

“[…] The performance was achieved in a challenging environment and testifies to the solidity of our business model and the complementary nature of our brands”, explains Franck Gervais, CEO of Pierre et Vacances-Center Parcs. According to him, the quality of operational execution was also reflected in improved customer satisfaction. The Group continues to expect adjusted EBITDA of around EUR 185 million for the financial year just ended. Full-year results are scheduled to follow on 9 December. Looking ahead, tourism bookings received to date for the first quarter of 2026/27 are higher than the previous year’s level across all brands, driven by a volume effect.

Meanwhile, the Group is preparing for its planned change of ownership: in July, it signed a tender offer agreement with Mubadala Capital. Shareholders collectively holding 80.13 percent of the outstanding share capital have committed to tendering their shares to the offer. On 29 September 2026, the General Meeting also approved the extraordinary distribution of EUR 0.11 per share envisaged as part of the transaction. The tender offer is expected to be filed no later than the first quarter of 2027. The parties anticipate completion in the first half of 2027, subject to the outstanding conditions being met, particularly the necessary regulatory approvals. Gervais welcomed the prospect of a new owner supporting the company’s next phase of growth. ■