Accelerates its expansion in the Balearic Islands, disembarks in Madrid and expects to close 2018 with a turnover of 65 million euros
The French group specialized in holiday apartments Pierre & Vacances maintains its expansion in the Spanish market with an expected investment of more than 12 million euros for the incorporation of four new establishments during the next financial year 2019, with the aim of exceeding the results achieved this year that it foresees to close with a turnover close to 65 million euros.
The aim of the company is to achieve a profit of 100 million euros in 2021, with more than 80 establishments and 6,000 accommodation units opened in the Iberian Peninsula.
“The expansion in Portugal is also underway during the next few years,” explained the CEO of Pierre & Vacances in Spain, Ghislain d’Auvigny at a press conference held in Madrid on Tuesday.
Three of the new establishments that the company will have in management next year are in the Balearic Islands (‘Madrid Menorca Binibeca’, ‘Mallorca Deya’ and ‘Mallorca Portofino’) and one, in Madrid (‘Madrid Eurobuilding 2’) and form part of the tourism development strategy of the company, which will operate a total of six establishments in the Balearic Islands and boost its urban product with the landing in the capital, which is investing 4 million euros.
As a result, in 2019 the company plans to have more than 5,000 housing units distributed in 59 complexes, which represents a 12% increase in its accommodation capacity compared to 2018.
With regard to this year, according to the CEO of Pierre & Vacances in Spain, José María Pont, has been a “fruitful” year with the opening of five complexes, two in the Balearic Islands, one in the Costa Brava, one in Baqueira and one in Andorra, which have meant a growth of 32% and “expect to continue reaching new challenges for next year”.
“After 13 years operating in Spain and having experienced a continuous growth over time, we can affirm that the touristic concept of Pierre & Vacances, for its services, facilities and locations, enjoys a magnificent fit in the country”, assured the executive.
The high-end product is the new commitment of the French group for the coming years with the aim of improving the quality of the complexes and meet the needs of a profile of travelers with a higher purchasing power although Pont has stressed that “this search the increase in quality will also be adapted to any pocket “.
Currently, Pierre & Vacances has 29 Premium establishments distributed in France, the Antilles, Mauritius and, since 2018, also in Spain and Andorra.