Club Med looks to profit from China's skiing craze

BEIJING: French leisure group Club Med formally opens its first resort in China on Tuesday in the icy northeast, cashing in on a newfound love for winter sports among an increasingly wealthy middle class.

Club Med is hoping to attract clients from across China, and even Southeast Asia, to its new village in Yabuli, which features 18 ski slopes -- and winter temperatures often below minus 30 degrees Celsius (minus 22 Fahrenheit).

"Most of the industry is in decline. China is really the only place where the industry is growing," Justin Downes, a Canadian from the ski resort of Whistler who advises investors on the winter sports sector in China, told AFP

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Club Med World Wide reports promising outlook

Positive figures released this week by Club Med in Paris, are being echoed in Australia with the General Manager for Australia, Mr Quentin Briard announcing “That 2010 has been a most positive year with clients travelling mostly to our up-market Resorts, and figures showing overall growth of 7.5% when measured against 2009.“
“The key drivers for positive growth were Bali with a 43% rebound; hardly surprising when guests visited the Island's recently renovated Resort in record numbers and Australians topped the global arrivals figures into Bali.”

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Club Med Says Fosun Acquires 7.1%, Forms Strategic Alliance

June 13 (Bloomberg) -- Club Mediterranee SA said China’s Fosun International has acquired 7.1 percent of its share capital and becomes one of Club Med’s largest strategic investors.


“At the same time, the two groups announce a strategic partnership agreement in order to build comprehensive cooperation in upscale resort construction and operation as well as developing global business synergies,” the French company said in a statement today

Club Med Shares Surge on Summer Bookings, First-Half Profit

June 11 (Bloomberg) -- Club Mediterranee SA surged in Paris trading after the resort operator said bookings rose 18 percent in the last eight weeks and reported a first-half profit.

The shares advanced as much as 1.05 euros, or 9.1 percent, to 12.57 euros, the steepest intraday gain since Sept. 25.

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Club Med Gains as Resort Earnings Beat Estimates, Bookings Jump

Dec. 11 (Bloomberg) -- Club Mediterranee SA, Europe’s largest resort owner, rose as much as 6.7 percent in Paris trading after operating profit beat some estimates and the company reported a jump in bookings for the last eight weeks.

The shares climbed as much as 93 cents to 14.85 euros, heading for the highest closing price since Oct. 23. They traded at 14.67 euros at 9:49 a.m

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Club Med Strengthens Giscard’s Position With Board Appointments

July 24 (Bloomberg) -- Club Mediterranee SA bolstered the position of the resort company’s top executive, Henri Giscard d’Estaing, by naming representatives of shareholders supportive of his strategy to the board.
Club Med said late yesterday that it appointed nominees of Caisse des Depots et de Gestion du Maroc, the Benetton family and lender Credit Agricole to the board. The shareholders have all given their backing to Giscard, who has been accused by French investor Bernard Tapie of squandering shareholders’ money. Club Med is suing Tapie, who bought 1 percent of the company’s shares last month, for spreading false information.

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http://www.bloomberg.com/apps/news?pid=20601205&sid=a3.h7qZcX204

Club Med Gains in Paris After Benetton Family Buys 2% Stake

Club Med files legal complaint against Bernard Tapie

Club Med Loss Widens on Economic Crisis, Renovation

CLUB MÉDITERRANÉE: RESULTATS DU PREMIER SEMESTRE 2009

In a nutshell......
Revenues down 4.2% for the quarter year on year
Gross 28M euros vs 26M euros last year
Net (22) M euros vs (9)M euros last year . Increase in loss due to "impacté par des éléments non récurrents " - nonrecurring items. Although I do not see what they are.

Summer occupancy does not look good.