P & V announce acquisition of Intrawest operations in Flaine and Arc 1950

Pierre & Vacances (P&V) and Intrawest announce an agreement for the acquisition of Intrawest’s lodging and commercial operations at Flaine and Arc 1950 in France.

Pierre & Vacances Group and Intrawest Hotels & Residences have signed an agreement for the acquisition of Intrawest’s lodging and commercial operations at Arc 1950 in Savoie and the Flaine Montsoleil resort located in the Haute Savoie region of France.

Arc 1950 is Intrawest’s first mountain resort in Europe. The acquisition agreement includes the resort’s lodging management business, which consists of 655 apartments managed under the Radisson and Intrawest Hotels & Residences brands. Also included in the transaction is the management of two restaurants, a bar and two commercial spaces located in the resort village. The operations at Flaine Montsoleil Resort include the resort’s lodging management business, which consists of 138 apartments. All of the staff associated with each of these businesses will also transition under the management of Pierre et Vacances. This includes both on site staff and support staff located in Bourget du Lac.

As part of the terms of the agreement, Pierre et Vacances will operate both resorts in accordance with 4-star tourist residence standards. The addition of these two branded resorts will significantly enhance the Pierre & Vacances Premium Alpine holiday offering, which includes residences currently operated under the Résidences MGM, and Pierre & Vacances residences (Courchevel, Méribel). The takeover is expected to take place on 1st October 2009.

France-based Pierre & Vacances Group (also known as P&V and PV-Holidays) is the number one provider of holiday residences, villages and hotels all over France. They have over 40 years experience of self catering ski holidays and have more than 120 residences & hotels in 40 major ski resorts.

Have a look at P&V ski accommodation here.