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Rising Results: Groups Confirm Their Dynamism in 2024

  • l.guillotindecorson
  • 29 January 2025
  • 3 minute read
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This article was written by HospitalityOn. Click here to read the original article

Leading hotel groups posted solid results at the end of 2024, driven by targeted investment strategies and optimized operational management.

Compagnie des Alpes: A Growth-Oriented Start to Fiscal Year 2024/25

Compagnie des Alpes delivered a strong performance in the first quarter of its 2024/25 fiscal year (October 1 to December 31, 2024), achieving consolidated revenue of €261.8 million—a 30.7% increase compared to the same period last year. Excluding the impact of Urban Group’s integration, growth stood at 23.4% on a like-for-like basis.

Ski Resorts: Continued Enthusiasm

Revenue from the Ski Resorts & Outdoor Activities division reached €79.9 million, up 19.7%. While this growth was partly due to a favorable calendar effect, with two extra Christmas holiday days, the underlying trend remains positive. Adjusting for this factor, ski lift revenue increased by 7%, driven by a 2% rise in skier-days.

Optimal snow conditions and strategic investments, such as the launch of the new Transarc gondola at Les Arcs and the Marais chairlift in Tignes, contributed to these strong results. Compagnie des Alpes continues to enhance the appeal and efficiency of its ski resorts while minimizing their environmental impact.

Distribution & Hospitality: Sustained Momentum

The Distribution & Hospitality division generated €17.4 million in revenue, marking a 25.4% increase. MMV, the second-largest hotel group in the French Alps, saw a four-point increase in occupancy rates and higher average nightly revenue. The upscale renovation of the Village Club in Flaine and the Green Key certification of 18 establishments illustrate the group’s commitment to sustainable tourism.

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Mountain Collection Immobilier benefited from the opening of a new agency in Les 2 Alpes and the expansion of its rental management business, while subsidiary Travelfactory experienced strong growth, particularly in the Netherlands.

Theme Parks: A Record-Breaking Halloween

The Leisure Parks division achieved remarkable results, with revenue of €164.5 million—up 37.5% (or 25.3% on a like-for-like basis). Attendance surged by 17%, fueled by immersive themes and expanded events. Parc Astérix, Walibi Belgium, Futuroscope, and Bellewaerde attracted larger audiences with extended evening hours, new characters, and revamped attractions.

Urban Group’s integration is also progressing well, with a 10% increase in revenue.

Strategic Investments and Optimistic Outlook

During the quarter, Compagnie des Alpes acquired an additional 3.44% stake in Urban Group, bringing its total ownership to 86.4%. Furthermore, its partnership with Prinoth for the industrialization of electric snow groomers underscores the company’s commitment to sustainable mountain tourism.

With strong bookings and favorable snow conditions, Compagnie des Alpes anticipates a dynamic second quarter. The company confirms its target of around 10% EBITDA growth for the 2024/25 fiscal year, though uncertainties remain regarding the season’s end due to the late timing of the Easter weekend and shifting foreign school holiday schedules.

Buoyed by these successes, Compagnie des Alpes approaches the year with confidence and ambition, continuing its strategy of innovation and environmental commitment to enhance customer experiences.

CapitaLand Ascott Trust Reports Strong Growth in H2 2024 with a 6% Revenue Increas

CapitaLand Ascott Trust (CLAS) ended the second half of 2024 (July to December) with solid financial results, recording a 6% revenue increase to S$423.2 million. This performance was driven by improved operational management, strategic acquisitions, and the completion of asset enhancement initiatives (AEIs), despite negative impacts from exchange rate fluctuations and higher financing costs.

Revenue per available unit (REVPAU) also saw a significant 6% increase, reaching S$167, with further growth of 9% in Q4 compared to the previous year. CLAS surpassed pre-pandemic levels, with Q4 REVPAU reaching 113% of 2019 figures, supported by higher average prices and an increased occupancy rate of 81%, up from 77% a year earlier. Key markets such as Japan, Australia, Singapore, and the UK experienced notable gains.

CLAS’s portfolio also recorded a 1% valuation increase (S$72 million), attributed to strong operational performance and completed AEIs.

“As CLAS presses forward with its portfolio reconstitution strategy, there may be some near-term unevenness on CLAS’ operational income resulting from divestments or properties undergoing AEIs.  However, these efforts will enhance CLAS’ income and generate more value to Stapled Securityholders over time, as we have seen from properties that have completed AEIs such as Citadines Holborn-Covent Garden in London and The Robertson House by The Crest Collection in Singapore.  To mitigate the short-term impact of our upcoming AEIs, CLAS will distribute past undistributed divestment gains to keep distributions stable.” – Serena Teo, CEO of CLAS Managers

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