Europe's No. 1 in local tourism continues its transformation and development strategy through franchise agreements, management contracts and commercial leases. Following the opening of 8 new establishments over the last 12 months in France and Spain, Pierre & Vacances has signed 2 new franchise agreements and its very first management contract, covering 242 accommodation units, in the south of France.

With these new development models, launched in 2021 with the signing of 3 branded residences in Southern Corsica, Pierre & Vacances aims to enhance its portfolio with 2,900 new accommodations in the mountains and on the coast by 2026.

FROM PROPERTY DEVELOPER TO TOURISM OPERATOR

Grégory Sion, Managing Director of Pierre & Vacances, explains: "Historically, Pierre & Vacances was a property developer. Today, our development relies mainly on external developers, with a single owner, offering him the most appropriate business model: either the implementation of a commercial lease, or Asset Light (franchise or management contract), a model that is very common in the hotel industry. Two-thirds of our future growth will be in asset light. For owner-operators, Pierre & Vacances is a guarantee of maximising occupancy and profitability, thanks to the strength of our brand and our expertise in marketing and revenue management. We will also develop with hotels in leisure destinations. Pierre & Vacances already operates 13 in Europe.

To reach its target of 2,900 new accommodations by 2026, Pierre & Vacances has strengthened and structured a dedicated development team to meet with investors, real estate companies and developers specialising in managed tourism real estate. 

Nearly 80 development projects are currently under discussion for the coming years, on the French coast (Atlantic and Mediterranean), in the Alps (French, Swiss or Italian) and in Spain. The franchise or management contract allows investors to benefit from the advantages of the Pierre & Vacances brand (marketing and operating strength) while enjoying the full profitability of their sites.

3 NEW ASSET LIGHT CONTRACTS

Established since 2021 in Saint-Cyprien (Pyrénées-Orientales), under its "Pierre & Vacances premium" range with the Résidence premium Horizon Golf****, The brand has signed 2 new contracts with the Roussillhotel group to operate 171 flats and villas at 2 addresses: Les Bulles de Mer, a residence ideally located in a marina, between the lagoon and the Mediterranean, which opened its doors on 28 April under the "Pierre & Vacances" range; and a new development on a privileged 10-hectare site planted with trees, due to open in the 2nd quarter of 2024. 

"Our collaboration with Pierre & Vacances was an obvious choice from the outset: we have a shared history in property development, a strong culture of welcome and hospitality and major ambitions for the future. We learn from each other and work together on innovative projects, always mindful of the impact our projects have on the environment and well aware of the challenges that await us in this area in the years to come," says Thibault Lormand, co-director of Groupe Lormand Roussillhotel.

At the same time, the brand has signed its first management contract to operate a residence in Roquefort-la-Bédoule (Bouches-du-Rhône), on the heights of Cassis. Completely new, the Résidence Cap Cassis Calanques, offering 71 flats and an outdoor swimming pool, will open on 17 June under the "Pierre & Vacances" brand. Pierre & Vacances will manage and market the property on behalf of the investor-owner. 

Pierre & Vacances currently operates 10 residences under franchise and management contracts, from the Isle of Beauty to Ile aux Moines, Sardinia and Cassis, and from Saint-Cyprien to Saint-Malo via Saint-Jean-de-Luz. Its objective is to sign up around forty Pierre & Vacances franchise residences by 2026.