Operating Income Continues to Improve for France´s Club Med

France-based hotel chain Club Med reported that first-half revenues amounted to €750 million, compared with euros 784 million in the first six months of 2004.

Excluding the direct impact of the Caribbean hurricanes and the Asian tsunami, revenues were up 1.5 percent for the half. Reported revenues for Club Med were slashed by euros 35 million by the temporary closure of five of the most profitable villages, Punta Cana and Columbus Isle in the Caribbean, and Phuket, Kani and Faru in Asia.

Insurance settlements covering the operating income shortfall from the five closed villages totaled euros 24.7 million.

Despite these factors, operating income continued to improve, increasing to euros 35 million from an already good showing of euros 32 million in winter 2004, and net income was positive for the first time in four years, at €3 million.