Club Med announces it will invest $25 million in an enhancement program for the newly renamed, Club Med Sandpiper Bay.
Fosun, China’s largest privately-owned conglomerate, has bought a 7 percent stake in Club Med for around €23m. The deal comes as part of the French all-inclusive specialist’s shift into new markets as it reduces its dependence on stagnating European source markets.
On its 60th anniversary, Club Med, the leading upmarket resort brand has launched luxury holiday villas to rent.
French holiday group Club Med has reported that its fiscal first-half losses have more than doubled to €22m from €9m, whilst summer bookings are 18 percent down on last year.The operator said its first half to April had been hit not only by the downturn but also non-recurring items relating to its restructuring programme and the temporary closure of a number of its villages for renovation.
Club Med Punta Cana in the Dominican Republic has reopened as a four trident resort following a £24 million refurbishment, including a brand new spa and new facilities for families and couples.The resort now offers 427 Club rooms, 94 deluxe rooms and 32 luxury family suites - providing accommodation for a range of budgets.