The Dragon Group

Hyatt aims to expand its presence in China’s economy and midscale hotel segments, leveraging local partnerships and focusing on second and third-tier cities.

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.