Club Med banners at its resort in Punta Cana, Dominican Republic. Fosun bought the business in 2015 after outbidding rival offer from an Italian businessman. Photo: Reuters Club Med banners at its resort in Punta Cana, Dominican Republic. Fosun bought the business in 2015 after outbidding rival offer from an Italian businessman. Photo: Reuters
Club Med banners at its resort in Punta Cana, Dominican Republic. Fosun bought the business in 2015 after outbidding rival offer from an Italian businessman. Photo: Reuters
China economy

Fosun, owner of Club Med, warns investors of 76 per cent slide in earnings as coronavirus ravages tourism business

  • Fosun Tourism Group expects to slip into the red in the first half as coronavirus pandemic decimated travel demand
  • Group has accelerated efforts to prepare for a rebound in consumption demand, chairman Guo Guangchang says

Topic |   China economy
Club Med banners at its resort in Punta Cana, Dominican Republic. Fosun bought the business in 2015 after outbidding rival offer from an Italian businessman. Photo: Reuters Club Med banners at its resort in Punta Cana, Dominican Republic. Fosun bought the business in 2015 after outbidding rival offer from an Italian businessman. Photo: Reuters
Club Med banners at its resort in Punta Cana, Dominican Republic. Fosun bought the business in 2015 after outbidding rival offer from an Italian businessman. Photo: Reuters
READ FULL ARTICLE