Club Med may sell French village

28th Mar 2006

French hotel and tour operator Club Mediterranee is in talks to sell one of its holiday villages in France, a spokeswoman told Reuters news agency. “It’s correct,” the spokeswoman said, when asked about a report in Les Echos newspaper that Club Med was close to concluding the sale of the Dieulefit holiday village for 15 million euros ($18.06 million).

“(Dieulefit) no longer fits our business model,” the Club Med spokeswoman said, adding the company had been looking for a buyer for the park for more than a year. Dieulefit is in the Drome region, south east France.

It was not immediately clear when Club Med, whose financial year ends Oct. 31, would book any sale.

According to Les Echos, a sale contract would be signed April 5 but completion was not likely until October and depended on the buyers—Coreg, a property company, and Oaci Conseil, a holiday park firm—acquiring permission to develop the site.

“We have to see if the investors will see it through to the end,” the Club Med spokeswoman said.




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