On 29 January, Sembreizh, the regional semi-public company in which Crédit Mutuel Arkéa is a shareholder, announced the launch of a new subsidiary - Breizhtourisme - to support tourism projects.

Breizhtourisme has capital of €5.2m, shared between Sembreizh (46%), Banque des Territoires (46%), Crédit Mutuel Arkéa (6%) and Caisse d'Epargne Bretagne Pays de Loire (2%). Up to €25m of investment will be available to support the development of tourism and leisure in Brittany.

In practical terms, Breizhtourisme will invest in land or property and carry out the necessary work as the project owner. The operator will be the lessee and will gradually buy back the equipment over a 15-year period. The first projects will be approved by the summer. These could include the extension and modernisation of a hotel-restaurant that would like to increase its capacity and open up new activities (hosting seminars), or the creation of self-catering cottages adapted for people with reduced mobility, reflecting a desire to place accessibility at the heart of the tourist offer...