BELAMBRA CLUBS acquired by ANTIN INFRASTRUCTURE

Belambra Clubs (formerly VVF Vacances) is a French company specializing in the management of high-end leisure infrastructure, with a portfolio of +40 integrated vacation villages located in protected tourist areas characterized by high regulatory and land-use barriers to entry. The company generates significant cash flows through the sale of all-inclusive stays, which combine accommodation, dining, and sports and entertainment facilities, catering to a loyal domestic clientele. Its operational model is based on the ownership and management of heavy physical assets, which require regular maintenance investments, as well as fine-tuned management of occupancy rates during peak seasons. Optimizing on-site personnel expenses is also a key aspect of its operations. With revenues of €254 million, the company is heavily reliant on its strategy of upgrading its accommodation facilities, dynamic pricing of its packages, and intermediated or direct booking contracts that secure occupancy rates for its fixed infrastructure before the sites open, enabling effective capacity planning and management. This approach allows the company to maintain a consistent and high-quality service offering while ensuring efficient resource allocation. It is the fourth largest player in France in this sector behind Club Med, Pierres et Vacances, Center Parcs, and Appart City.