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].