Although Club Med has its problems because of a general travel downturn, it is set on opening in China. This year restructuring costs and impairment charges pushed the group to a full-year net loss of $78 million, against small profit the year before.
Chief Executive Henri Giscard d’Estaing, shown here, said, "The Club showed in 2009 it was resilient to the effects of the global crisis. That means we have a lever effect once there is some wind in the sails. Our goal will be to go and find growth wherever it is."
Club Med has high hopes for China, which Giscard d’Estaing said could become its second-biggest zone as the country’s tourist and vacation market is set to soar.
The company plans to open a ski village in Yabuli, in northeast China, next year, followed by a further four holiday villages by 2015 when it hopes to have 200,000 Chinese customers.
Reuters said his plan was to to help boost its image outside France, aiming particularly at Asian and American holidaymakers, using celebrity appeal.