Earnings up for Club Med in 2012
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Club Med has reported a successful fiscal year 2012, with business volumes rising 3.7% to EUR1.5 billion (GBP1.2bn, US$1.9 bn).
The tour operator posted net income of EUR35 million (GBP28bn), up 7.3% year-on-year despite the struggling European economic climate.
“Club Mediterranee’s reported an increase in revenue for fiscal 2012 despite accelerating deterioration of the European tourist markets during the summer. Thanks to its powerful positioning on the upscale market, the group was able to protect its margins and demonstrate the resilience of its business model,” said its chairman and CEO Henri Giscard d’Estaing.
“Club Med is now in a position for a new step forward in the deployment of its international expansion strategy, by leveraging its stronger financial position, its upscale portfolio of villages and the ability to interface one-to-one with customers through direct distribution network.”
For 2013, Club Med will invest in its portfolio by opening new resorts in Pragelato Vialattea, Italy, Belek, Turkey and Guilin, China, while also renovating current properties in Rio Das Pedras, Brazil and Cherating Beach, Malaysia. In response to the increased interest from American and Canadian customers in our unique ski product, the company has prospective plans to open a new ski resort in North America.