Download PDF

1. Company Snapshot

1.a. Company Description

Pierre et Vacances SA, through its subsidiaries, engages in the holiday accommodation and holiday property investment business in Europe and internationally.It operates through two segments, Property Development and Tourism.The Property Development engages in the land prospection, site design, construction, and marketing of holiday residences for individual buyers or institutional buyers.


The Tourism segment operates residences and villages marketed under the Pierre & Vacances, Center Parcs, Sunparks, Villages, Nature Paris, Maeva.com, and Adagio brands.As of September 30, 2021, it operated approximately 284 sites, as well as 43,532 apartments.The company was founded in 1967 and is headquartered in Paris, France.


Pierre et Vacances SA is a subsidiary of Société d'Investissement Touristique et Immobilier.

Show Full description

1.b. Last Insights on VAC

Pierre & Vacances-Center Parcs faces challenges, with recent data revealing a substantial shift in its shareholder base. As of October 2025, the total number of shares and voting rights stood at 44,816,192. Moreover, on November 7, 2025, the company disclosed an updated figure of 44,776,192 shares. These developments occur amidst a backdrop of market scrutiny, particularly following the release of its full-year revenue report on October 23, 2025. Notably, no recent share buyback announcements were made, which could have potentially bolstered shareholder value.

1.c. Company Highlights

2. Transcript Summary

Unfortunately this company is not part of our coverage yet. But as part of your subscription plan you can request it by clicking just below and we'll process.

Request Coverage

3. NewsRoom

Card image cap

Pierre & Vacances-Center Parcs: Total Number of Shares and Voting Rights

Dec -05

Source:

Card image cap

Pierre & Vacances-Center Parcs: Full Year 2024/2025 Results

Dec -03

Source:

Card image cap

Pierre & Vacances-Center Parcs: Total number of shares and voting rights

Nov -07

Source:

Card image cap

Pierre & Vacances-Center Parcs: Full-Year Revenue

Oct -23

Source:

Card image cap

Groupe Pierre & Vacances-Center Parcs: Total Number of Shares and Voting Rights

Oct -08

Source:

Card image cap

Pierre & Vacances-Center Parcs: 2025 Adjusted EBITDA Guidance Confirmed at More Than €180 Million

Sep -29

Source:

Card image cap

Societe Generale: shares & voting rights as of 31 August 2025

Sep -09

Source:

Card image cap

Vaisala Corporation: Share Repurchase 9.9.2025

Sep -09

Source:

4. Business Breakdown

4.a. Revenues by Country

4.b. Revenues by Segment

5. Expected revenues mid-term growth (3.56%)

6. Segments

Center Parcs (y/c WNV)

Expected Growth: 3.5%

Center Parcs' 3.5% growth is driven by increasing demand for premium, eco-friendly, and family-friendly vacation experiences. Expansion into new European markets, strategic partnerships, and investments in digitalization and sustainability initiatives also contribute to growth. Additionally, the company's focus on high-margin accommodation offerings and dynamic pricing strategies help maintain revenue growth.

Pierre & Vacances

Expected Growth: 4.0%

Pierre & Vacances' 4.0% growth driven by increasing demand for vacation rentals, expansion into new markets, and strategic partnerships. Strong brand recognition, diversified portfolio of properties, and investments in digital platforms also contribute to growth. Additionally, the company's focus on sustainability and eco-friendly practices resonates with environmentally conscious consumers, further boosting demand.

Adagio

Expected Growth: 3.8%

Adagio's 3.8% growth is driven by increasing demand for mid-range accommodations, expansion into new markets, and strategic partnerships. The brand's focus on comfort, convenience, and affordability resonates with travelers, while its flexible rental options and digitalization efforts enhance customer experience. Additionally, Pierre et Vacances SA's strong brand reputation and efficient operations support Adagio's growth momentum.

Reconciling Items

Expected Growth: 2.5%

Pierre et Vacances SA's 2.5% growth is driven by increasing demand for vacation rentals, expansion into new markets, and strategic partnerships. Additionally, the company's focus on digitalization and cost optimization efforts have improved operational efficiency, contributing to the growth. Furthermore, the rise of the experiential travel trend and growing popularity of alternative accommodations also support the company's growth momentum.

Major Projects & Senioriales

Expected Growth: 3.2%

Pierre et Vacances SA's Major Projects & Senioriales segment growth of 3.2% is driven by increasing demand for senior residences, government incentives for senior living, and strategic partnerships to develop new projects. Additionally, the company's focus on luxury and upscale offerings, as well as its expansion into new regions, contribute to the segment's growth.

Holding

Expected Growth: 3.0%

Pierre et Vacances SA's 3.0% growth is driven by increasing demand for vacation rentals, expansion into new markets, and strategic acquisitions. The company's diversified portfolio of brands, including Center Parcs and Maeva, also contributes to growth. Additionally, investments in digitalization and customer experience enhancements are expected to drive revenue growth.

7. Detailed Products

Residence Hotels

Pierre et Vacances SA offers a range of residence hotels that provide comfortable and convenient accommodations for families and individuals. These hotels offer a home-away-from-home experience with fully equipped kitchens and spacious living areas.

Apartments and Villas

The company offers a wide range of apartments and villas that cater to different tastes and preferences. From studios to 3-bedroom apartments, and from villas with private pools to apartments with sea views.

Camping Holidays

Pierre et Vacances SA offers a unique camping experience with fully equipped tents and mobile homes. Guests can enjoy the great outdoors while still having access to modern amenities.

Holiday Villages

The company's holiday villages offer a range of accommodation options, including apartments, villas, and bungalows. These villages often feature a range of on-site amenities, such as pools, restaurants, and kids' clubs.

Ski Holidays

Pierre et Vacances SA offers a range of ski resorts and accommodations in the French Alps and Pyrenees. From self-catering apartments to luxury chalets, there's something for every ski enthusiast.

Thalasso and Spa

The company's thalasso and spa centers offer a range of relaxing and rejuvenating treatments, including massages, facials, and body wraps.

8. Pierre et Vacances SA's Porter Forces

Forces Ranking

Threat Of Substitutes

Pierre et Vacances SA operates in the tourism industry, which is characterized by a moderate threat of substitutes. While there are alternative leisure activities, the company's focus on vacation rentals and resorts provides a unique experience that is difficult to replicate.

Bargaining Power Of Customers

Pierre et Vacances SA's customers have limited bargaining power due to the company's strong brand recognition and diversified offerings. Additionally, the company's focus on vacation rentals and resorts reduces the customers' ability to negotiate prices.

Bargaining Power Of Suppliers

Pierre et Vacances SA's suppliers, including property owners and local service providers, have a moderate level of bargaining power. While the company has a large portfolio of properties, suppliers can still negotiate prices and terms.

Threat Of New Entrants

The threat of new entrants in the tourism industry is low due to the high barriers to entry, including significant capital requirements and regulatory hurdles. Pierre et Vacances SA's established brand and extensive network of properties also create a high barrier to entry.

Intensity Of Rivalry

The tourism industry is highly competitive, with many established players and new entrants vying for market share. Pierre et Vacances SA faces intense competition from other vacation rental and resort operators, which can lead to pricing pressure and reduced market share.

9. SWOT Analysis

Strength

Weaknesses

Opportunities

Threats

10. Capital Structure

10.a. Balance Sheet

10.b. Weighted Average Cost of capital

Value
Debt Weight 313.58%
Debt Cost 4.93%
Equity Weight -213.58%
Equity Cost 15.52%
WACC -17.67%
Leverage -146.82%

11. Quality Control: Pierre et Vacances SA passed 4 out of 9 key points

12.a Historical Valuation

12.b Price/Earnings Ratio

12.c Margin Valuation

12.d Peers Valuation

Peers Group Analysis

Stock-Card
NH Hotel Group

A-Score: 6.0/10

Value: 6.9

Growth: 7.7

Quality: 6.6

Yield: 0.0

Momentum: 8.5

Volatility: 6.3

1-Year Total Return ->

View Full Report
Stock-Card
Meliá Hotels

A-Score: 5.8/10

Value: 7.5

Growth: 6.8

Quality: 5.7

Yield: 1.9

Momentum: 5.5

Volatility: 7.7

1-Year Total Return ->

View Full Report
Stock-Card
Dalata Hotel

A-Score: 5.4/10

Value: 5.3

Growth: 7.4

Quality: 4.9

Yield: 2.5

Momentum: 9.5

Volatility: 3.0

1-Year Total Return ->

View Full Report
Stock-Card
Scandic Hotels

A-Score: 5.4/10

Value: 5.0

Growth: 5.4

Quality: 4.6

Yield: 3.8

Momentum: 7.0

Volatility: 6.7

1-Year Total Return ->

View Full Report
Stock-Card
Pierre et Vacances

A-Score: 4.7/10

Value: 6.9

Growth: 7.4

Quality: 3.4

Yield: 0.0

Momentum: 7.0

Volatility: 3.7

1-Year Total Return ->

View Full Report
Stock-Card
PPHE Hotel Group

A-Score: 4.3/10

Value: 3.4

Growth: 5.6

Quality: 3.1

Yield: 2.5

Momentum: 7.0

Volatility: 4.3

1-Year Total Return ->

View Full Report

Peers Metrics

12.e Scoring Insights

12.f DCF BETA

Parameters

Short Term Growth

Short term Time

Long-Term Growth

WACC

Target Price

-34.45$

Current Price

1.8$

Potential

-2011.72%

Expected Cash-Flows