Club Med saw business bounce back in 2021 as travel conditions eased across parts of the globe.
Business volume at Club Med rose 10.8% to €855 million (RMB5,978.3 million) with the EMEA and the Americas increasing by 14.3% and 31.3% respectively.
The upturn in performance enabled Club Med to cut its adjusted operating loss (EBITDA) to €14.4 million (RMB100.7 million) from €47.7 million (RMB333.5 million ) in 2020.
The company was forced to keep all mountain resorts in the Alps (except Saint Moritz resort in Switzerland) closed at the start of 2021 because of the spread of Covid-19 with outbound travel also suspended in key source markets
Club Med plans to open 17 new resorts by the end of 2024 and together with new openings and renovations, annual capacity will increase by approximately 20% as compared with the same period in 2019.
What They Said
Mr. Henri Giscard d’Estaing, vice chairman and deputy CEO of Fosun Tourism Group, said: "2021 has been very contrasted between the first half of the year, which has been massively impacted in our international markets by sanitary situation, and the second half with a strong recovery.
“With our successful strategy and clearly defined challenges, we are definitely in position to rebound, despite the various sanitary, economic, and geopolitical uncertainties. Together with Fosun Tourism Group, we are moving forward and defining great ambitions for Club Med, to bring greater happiness to global families, on a profitable & fast-growing business model."