Club Med of Fosun Tourism Speeds up the Recovery in Asia-Pacific While the Group Powers its Brand Portfolio in Both Domestic and Overseas Markets

Fosun Tourism Group (“Fosun Tourism” or “the Group”, Stock code: 1992), as the world’s leading leisure-focused integrated tourism group, stated that despite the huge impact brought by the COVID-19 pandemic on the global tourism industry, the Group has continued to consolidate its brand strengths to meet the leisure vacation needs of consumers by improving the quality of tourism products. It helped the market achieve recovery after the pandemic to promote the dual circulation in both domestic and overseas.

Along with the pandemic recovery, Club Med resorts in China keeps its strong recovery momentum since the beginning of Q4, 2020. As of 18 December 2020, the booking (expressed in terms of business volume) of Club Med resorts in China since Q4 achieved a year-on-year growth of more than 30%.

Club Med Recovers Rapidly in Asia-Pacific and the New Resorts in Europe Have a Long-term Strategic Layout

Since July 2020, Club Med has been gradually reopened globally. Fosun Tourism has implemented a series of global development and recovery measures to lead the recovery of tourism industry.

Globally, the recovery in Asia-Pacific accelerates. Recently, Club Med has reopened its resorts in Yabuli (China), Beidahu (China), Tomamu (Japan), Kani (Maldives) and Cherating (Malaysia), and will reopen Finolhu (Maldives) on December 28th. As of the end of 2020, the capacity of Club Med in Asia-Pacific is expected to return to nearly 70% of the same period in the last year. The occupancy rate of the reopened resorts in December was good, and the booking of Club Med Kani in Maldives was nearly full during the upcoming Christmas and New Year Holiday¹_.

While in Europe, Club Med La Palmyre Atlantique which has reopened in summer of 2020 after renovation and extension, has been widely popular. The average occupancy rate achieved nearly 90%² in summer. Although the second wave of pandemic swept in Europe since September, Club Med has been striving for its long-term development. Club Med La Rosière, an Alpine ski resort, has completed construction on 13 December. The Club Med Seychelles in the Indian Ocean has nearly completed construction and is scheduled to open in January 2021.

With the reopening accelerated, Club Med has also constantly met the tourist needs. It has launched its Safe Together program in its resorts. For example, it provided each person with more spaces to maintain social distance and strengthened the health and safety measures which have already been implemented before the pandemic, to reassure visitors about health and safety and to provide a better experience in the resorts.

Multi-brand Strategy Enriches Tourism Products with Improved Resort Brand Portfolio

At the same time, Fosun Tourism aims to bring tourists with various tourism products by constantly improving its other brand portfolio as well. Two major brands under the Group, which are innovative lifestyle hotel series Casa Cook and Cook's Club, have signed several hotels to expand their domestic and overseas layouts synchronously.

In Europe, except for the 8 hotels currently managed under the two brands, the group has recently signed two new hotels, namely Casa Cook Samos and Cook’s Club Hersonissos, which will be opened in 2021. In the domestic market, Casa Cook Guishan Island Resort, a luxury beach resort signed in the second half of 2020, and Casa City Resort in Haikou focus on urban leisure and vacation concepts and will be opened in 2023 and 2024, respectively.

Qian Jiannong, Global Partner of Fosun Group, Chairman and CEO of Fosun Tourism Group, said that “We have seen a comprehensive recovery of the Group's domestic business after the pandemic was under control in mainland China. At present, the vaccine has been used in some countries. We believe that along with the pandemic tends to be steady in various countries, the global leisure and vacation industry will steadily recover. We will continue to improve the existing good business model and tourism ecosystem, seize the opportunities and persist the innovation to develop more upgraded cultural and tourism products. Also, we will bring more product choices to domestic and overseas tourists by further enhancing our product upgrade and product power.”

With various countries releases vaccine schedules, the prevention and control of the pandemic appears signs of dawn. In order to seize the opportunity in the recovery wave of tourism, Fosun Tourism will further accelerate the development momentum of domestic business, and constantly accelerate overseas expansion to achieve new development in the future.