Fosun Explores Selling a Stake in Club Med
Photo Credit: A patio at Club Med Sandpiper Bay. Club Med
Skift Take
Fosun International was reported by Reuters to be exploring the sale of a minority stake in Club Med, targeting a valuation of US$800 million for the whole business. Reuters said Fosun has been in discussions informally with potential buyers and advisors about the sale but no firm bid has emerged.
GGRAsia said a number of Macau’s luxury hotels in casino resorts are already sold out for some of the Lunar New Year week. It begins February 10 and runs through February 17. GGRAsia said their survey showed 15 of the 31 luxury hotel towers, most of them on Cotai, have seen almost all nights fully booked for the period.
SJM’s Grand Lisboa, MGM Macau, MGM Cotai, Ritz Carlton, and Raffles at Galaxy Macau, The Londoner, Four Seasons, and Grand Suites at Four Seasons from Sands China topped the list of full hotels for the entire period.
Fosun International was reported by Reuters to be exploring the sale of a minority stake in Club Med, targeting a valuation of US$800 million for the whole business. Reuters said Fosun has been in discussions informally with potential buyers and advisors about the sale but no firm bid has emerged. One of the sources said Fosun could sell as much as a 30% stake
