January 18, 2018 / 8:50 PM / a year ago

MEDIA-Club Med to open five new resorts per year, focus on China-Les Echos

** French resort chain Club Med, owned by Chinese group Fosun, plans to open five new resorts per year in the next five years and plans to focus on the growing Chinese market for short holidays, its chief executive Henri Giscard d’Estaing told French daily Les Echos

** China is now the company’s second-biggest market with 200,000 customers in 2017 and growth there will accelerate. In 2018 Club Med will open two Joyview resorts, situated less than three hours by car from major urban centres and focused on short family holidays in a country where few people have second homes.

** Says Club Med is not profitable

** Confirms that Fosun is considering an IPO for its tourism business. Says that as the business has major growth potential, it could raise funds for development through a partial listing. No decisions taken so far, he says.

Note: Reuters has not verified this story and does not vouch for its accuracy

Reporting by Paris newsroom

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