Acquisitions
In 1988, Pierre & Vacances started to acquire rival companies. The first purchases included Geer (developments Cap Esterel, Les Coches and Port-Bourgenay on the Mediterranean Sea) and Sogerva and Port du Crouesty (facilities on the Atlantic coast).
Pierre & Vacances emerged relatively unscathed from economic crisis in the 1990s, and accelerated its expansion by purchasing struggling rivals such as Société des Montagnes de l'Arc (1993), Rocher Soleil (1996) Sofap Loisirs and Pont-Royal (1997). Pont-Royal was a key piece in the company's growth, because the French State had granted it permission to construct over 20,000 square metres in the Provence region.[11]
The company quickly adapted to the new market demands. In 1998, it launched the "eco-village" in the Picardy region and opened its first facilities outside France, in Martinique and Guadeloupe. Pierre & Vacances became a holding company, gathering all its subsidiaries under its name.
In 1999, Pierre & Vacances was listed on the Paris stock exchange. In March of that year, it purchased the resort chain Orion from Whitehall et Westmont Hospitality. Then, it entered into a joint venture with Beni Stabili with the aim of purchasing properties in Italy. In April 2000, Pierre & Vacances acquired Grand Dorado (later renamed Center Parcs), one of the leading companies in the Benelux's tourism accommodation market. In March 2001, in a joint venture with Deutsche Bank, it acquired Center Parcs Europe, a large resort parks company. In July 2001, it acquired the ski resort operations of Groupe Washington at the Valmoral resort and, in September of that year, Club Méditerranée's Maeva SA. This operation made Pierre & Vacances the leader in the French market. In 2002, the Italian company Valtur was added to Pierre & Vacances' portfolio.[10][11] In 2003, the Pierre & Vacances' holding became the sole owner of Central Parcs.[12]
In 2007, Pierre & Vacances and Accor formed a joint venture to create a new company, called Adagio, with the aim of developing city residences in Europe.[13][14] That year it also acquired a real estate development company focused on Mediterranean style villages for elderly people (Les Senioriales SA)[15] and the Sunparks Group.
In 2009, the name was changed from "Groupe Pierre & Vacances" to "Groupe Pierre & Vacances Central Parcs".[2]
In October 2023, the group, through its brand Maeva, acquired Vacansoleil.[16]
