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Fosun Debts Lead to Potential Club Med Sell-Off

Overzealous acquisitions, economic turmoil and a global pandemic are yet to break the French leisure group Club Med
The post Fosun Debts Lead to Potential Club Med Sell-Off appeared first on LUXUO.

The Fosun Growth and Empire

Known for its all-inclusive resorts offering a range of leisure activities from fine dining to yoga, scuba diving and baby gym classes, Club Med is a renowned, upmarket French leisure group that specialises in curating holiday-worthy tourist destinations. Over the years, Club Med sucessfully expanded by making a series of strategic moves including signing a 10-year accord with the Chinese group China Pao Shan in 2011 to expand on a holiday village in China and aiming to double its capacity to 300 rooms for 2013 alongside plans to go from four to 15 all-inclusive village resorts from 2016 to 2020. According to the Taipei Times and Bloomberg, a consortium led by Fosun bought the Parisian-based Club Med in a 2015 deal valued at about 939 million Euros (US$969 million), beating out Italian investor Andrea Bonomi in a bidding war that lasted over a year. Part of the Fosun empire includes the Wolverhampton Wanderers from the English Premier League, Portugal?s largest bank Millennium BCP, as well as French fashion house Lanvin and resort owner Club Med.
Read More: Second Club Med Resort in China

Guo Guangchang, chairman and co-founder of Fosun International Ltd., in 2018.
Photographer: Billy, Image courtesy of 2018 Bloomberg Finance LP...
Source: luxuo
URL: http://www.luxuo.com/

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