Core Insights - Club Med has completed its brand upgrade and aims to become one of the most iconic global lifestyle brands by 2035, with plans to operate 100 resorts worldwide by 2035 [1][3][6] - The company has experienced significant growth over the past decade, with total revenue increasing by 50% and operating profit rising by 500% from 2015 to 2024 [3][9] - Club Med is focusing on enhancing its offerings in China, with plans to develop new ski resorts and beach resorts, while integrating local cultural experiences into its operations [4][7][10] Expansion Plans - Club Med plans to operate 80 resorts by 2030 and 100 resorts by 2035, with new projects expanding into the Mediterranean, Southeast Asia, and the Americas [1][3] - The company is set to open its first resort in South Africa in July 2024, combining beach and African safari experiences, and a new resort in Borneo, Southeast Asia, in September 2024 [3][6] Market Performance - In China, Club Med operates 3 ski resorts and 2 sun resorts, with a focus on innovative offerings tailored to local consumer demands [2][4] - The company has seen a significant increase in Chinese visitors, with the number of guests growing from 20,000 to 300,000 over the years [1][9] - Club Med's revenue in the Chinese market is projected to achieve double-digit growth by the second half of 2025, with inbound market revenue exceeding €10 million [9] Unique Selling Propositions - Club Med's all-inclusive model and professional childcare services remain industry-leading, providing a comprehensive vacation solution that includes accommodation, meals, activities, and sports guidance [5][6] - The company emphasizes a differentiated skiing experience with professional, tiered ski instruction and a seamless integration of services across its ski resorts [10] Consumer Trends - The new generation of travelers is shifting from traditional tourism to immersive experiences, valuing meaningful interactions and personal growth during their travels [6][7] - Club Med is adapting to these trends by offering diverse activities and experiences that cater to families, including options for multi-generational travel [7]

Core Viewpoint - The recent dismissal of Henri Giscard d'Estaing, CEO of Club Med, highlights underlying strategic and governance disagreements between him and the parent company, Fosun Tourism Group, which may impact the future direction of the brand [1][6]. Financial Performance - In the first half of 2024, Fosun Tourism reported a total revenue of RMB 10.65 billion, with Club Med contributing RMB 8.89 billion, accounting for 83% of the total, an increase from 76% in 2023 [3]. - Club Med's revenue for 2023 reached RMB 15.12 billion, marking a 19% year-on-year increase, and a growth of 18% compared to 2019 [3]. - The average daily room rate for Club Med's resorts increased by 8% to RMB 1,922 in the first half of 2024, with an occupancy rate of 70.4%, up by 1 percentage point from the previous year [3]. Global Operations - Club Med operates 68 resorts across 26 countries on five continents, including 38 sun resorts and 24 snow resorts, with a focus on diverse experiences [4]. - The sun resorts achieved a revenue growth of 5% in 2024, with an average room rate of €500 per night and an occupancy rate of 75% [4]. - The snow resorts reported a 19% revenue increase in 2024, with an average room rate of €750 per night and an occupancy rate nearing 80% [4]. Strategic Direction - The company has undergone significant internal changes, with a shift towards "light asset output" and digital transformation, which may conflict with the previous leadership's vision of a potential IPO in Paris [6][7]. - The new management's ability to balance strategic transformation with brand heritage and rebuild investor trust will be crucial for Club Med's future [7]. Leadership Changes - The new CEO of Club Med is reportedly a candidate with no prior experience in the hospitality industry, raising concerns about the alignment with the brand's operational ethos [7]. - The decision to replace the CEO without a transition period or guarantees for future shareholding has been criticized for not addressing the urgent need for diversified governance and internationalization [7].