New Club Med owners look to China for growth
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The new Chinese owners of Club Mediterranee (Club Med) are hoping to take advantage of the growing travel market from its home country to grow business.
Chinese conglomerate Fosun is also looking to build more high-end resorts on the mainland to generate more business for the French firm, in addition to the three that it already operates.
Resort accommodation in the four and five-star bracket is currently limited in the country and could make China its second largest market.
According to the Financial Times Fosun raised its bid five times from the original offer, out-bidding rival Andrea Bonomi.
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