Club Med has reported a promising growth in its UK business for the first half of 2024, signalling a strong market presence.
- The UK’s business volume increased by four percent year-on-year, reaching €68 million, marking it as a significant market in Europe for Club Med.
- Despite a challenging global environment, Club Med achieved an exceptional performance, with a total profit increase to €244 million.
- The company plans to open nine new resorts by 2026, focusing on diverse locations including the Caribbean, Middle East, and Southeast Asia.
- Club Med remains committed to sustainable tourism, reinforcing this through its ‘Happy to Care’ scale-up initiative.
Club Med has experienced notable success in its UK operations, reflecting a four percent year-on-year business volume growth to €68 million in the first half of 2024. This milestone underscores the UK as the second largest market in Europe for the all-inclusive resort operator, just behind France and ahead of Belgium.
The company’s winter mountain business in the UK alone reached €56 million, illustrating a robust demand for such vacation experiences. Furthermore, long-haul destinations such as the Indian Ocean, Caribbean, and Southeast Asia saw a significant nine percent rise in business volume, amounting to €5 million in the first half of 2024.
The overall customer base handled by the Chinese-owned Club Med, part of Fosun Tourism Group, expanded by two percent, reaching 778,000. This growth in customer numbers contributed to a rise in total profits, with EBITDA increasing from €228 million to €244 million. Moreover, the resorts operating income rose by 11 percent to €139 million compared to the first half of the prior year, which had already recorded strong performance.
Forward-thinking in its expansion strategy, Club Med is on track to inaugurate nine new resorts by 2026. Upcoming projects include Club Med Borneo in Malaysia set to open next year, and the company’s first beach and safari resort near Durban in South Africa slated for 2026. In addition, more than 16 extensions or renovations of existing resorts are underway as the company explores other potential openings, particularly in the Caribbean, Middle East, Southeast Asia, and mountain destinations globally.
Demonstrating resilience in an unpredictable global scenario, Club Med’s strategy continues to yield success. The company has progressed significantly in its ‘Happy Digital’ and AI strategies to enhance customer satisfaction and operational efficiency. Henri Giscard d’Estaing, Club Med’s president, highlighted the brand’s transformation towards a more premium, glocal approach, asserting its continued commitment to sustainable tourism under the ‘Happy to Care’ initiative.
Club Med’s strategic approach and commitment to innovation and sustainability are integral to its ongoing success and future expansion globally.
