Stake buy to support Club Med expansion
By Winny Wang |
June 18, 2010, Friday
|
Print Edition
Print Edition
CHINA'S biggest private conglomerate Fosun bought a 7.1 percent stake in French leisure group Club Med, which is exploring to open five resorts in China by 2015 to tap the growing domestic tourism market.
Club Med has already identified the sites for the resorts which would be developed with Fosun's support, which will make China the French group's second-largest market. Its first Chinese ski resort in northeast China's Heilongjiang Province will be opened by this winter.
"On a mid-term basis, the parties will cooperate to identify opportunities for the opening of new resorts, through greenfield development or by taking over existing upscale resorts," the companies said yesterday.
Club Med is credited with inventing the all-inclusive holiday model 60 years ago, according to tourism experts. It now has holiday resorts in 40 countries and regions.
"Fosun has a diversified industrial base and various resources, so it will be able to lend full support to Club Med's expansion in China," said Guo Guangchang, chairman of Fosun.
"Fosun will not only support Club Med's global strategy of upscale positioning and sharing China's growth opportunities, but also use this opportunity to benchmark itself with international brands and standards," he said.
Club Med aims to attract 5 to 10 percent of potential Chinese visitors to four- and five-star vacation resorts by 2015. The group expects to host more than 200,000 Chinese customers by 2015.
Club Med has already identified the sites for the resorts which would be developed with Fosun's support, which will make China the French group's second-largest market. Its first Chinese ski resort in northeast China's Heilongjiang Province will be opened by this winter.
"On a mid-term basis, the parties will cooperate to identify opportunities for the opening of new resorts, through greenfield development or by taking over existing upscale resorts," the companies said yesterday.
Club Med is credited with inventing the all-inclusive holiday model 60 years ago, according to tourism experts. It now has holiday resorts in 40 countries and regions.
"Fosun has a diversified industrial base and various resources, so it will be able to lend full support to Club Med's expansion in China," said Guo Guangchang, chairman of Fosun.
"Fosun will not only support Club Med's global strategy of upscale positioning and sharing China's growth opportunities, but also use this opportunity to benchmark itself with international brands and standards," he said.
Club Med aims to attract 5 to 10 percent of potential Chinese visitors to four- and five-star vacation resorts by 2015. The group expects to host more than 200,000 Chinese customers by 2015.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 娌狪CP璇侊細娌狪CP澶05050403鍙-1
- |
- 浜掕仈缃戞柊闂讳俊鎭湇鍔¤鍙瘉锛31120180004
- |
- 缃戠粶瑙嗗惉璁稿彲璇侊細0909346
- |
- 骞挎挱鐢佃鑺傜洰鍒朵綔璁稿彲璇侊細娌瓧绗354鍙
- |
- 澧炲肩數淇′笟鍔＄粡钀ヨ鍙瘉锛氭勃B2-20120012
Copyright 漏 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
