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Club Med, the French resort operator under Chinese conglomerate Fosun International, reported an operating profit up by 36% to 44.1 million euros in 2016. The company saw a sharp increase in bookings for the past year. In addition, Club Med is accelerating its global expansion, with plans to open eight resorts soon. They will include new operations in France and Japan. There are also plans for 20 resorts in China by 2020, said Henri Giscard d'Estaing, president of Club Med. Fosun chairman Guo Guangchang also pledged continued backing for Club Med. That would come in tandem with China's growth momentum, he said, which "of course will support the revival of this brand in Europe and beyond." Read original article |
