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
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
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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