Club Med has posted an increased revenue of 4.5 percent for Q3 of fiscal 2010, according to the company. Villages revenue (excluding villa sales) rose by 0.6 percent in the period at constant exchange rates, compared with declines of 10.3 poercent in the first quarter and 4.5 percent in the second. This improvement reflects a gradual recovery in the upmarket, all-inclusive tourist market.
In addition, Club Med signed a strategic management agreement with Fosun Group, China’s largest private conglomerate, to develop resorts in the country. The goal is to reach five villages and 200,000 customers by 2015. The company has also announced partnerships with Transavia, an Air France KLM subsidiary, and Thomas Cook France.
