Club Med owner is bullish on China's reopening, says resort is ‘definitely not for sale'

Club Med is bullish on China's reopening, says resort is ‘definitely not for sale'

"Fosun Tourism Group is one of the core businesses of Fosun [International], and Club Med is one of the core businesses of Fosun Tourism Group," Xu Bingbin, co-president of Fosun Tourism Group, told CNBC in an exclusive interview.

There was a strong rebound in Club Med's business from the Americas and EMEA from the second half of 2021, but operating profit in Asia-Pacific is still "far below the pre-Pandemic level," Fosun Tourism Group said in its 2022 earnings release. "We are actually happy to see if … partners in different parts of the world can give synergy for us, but definitely Club Med is not for sale," said Xu, who is also the CEO of Club Med China., there's still some catching up to do, Xu acknowledged.

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