Club Med to Open First Chinese Property in December

Club Med to Open First Chinese Property in December

Club Med will open China’s first all-inclusive resort in Heilongjiang in December, according to Xavier Mufraggi, CEO North America of Club Med. The resort, to be located in the Yabuli ski resort region, is the first of five resorts the company will build in China by 2015, Mufraggi said.

Earlier this year, Fosun, China’s largest privately owned conglomerate, acquired 7.1 percent of Club Med’s share capital, becoming one of Club Med’s largest strategic investors, and announced a strategic partnership to build “comprehensive cooperation in upscale resort construction and operation.”

Mufraggi said the Club Med developments in China will make the country Club Med’s second-largest market, generating 200,000 visitors annually. Fosun’s investment focus has always been industries and assets that are in line with China’s development trend. It firmly believes that the collaboration between Club Med and Fosun will not only help to provide Chinese consumers with high-quality vacations, but also help stakeholders to share China’s growth opportunities.