By Sharen Kaur
sharen@nstp.com.my
Published in NST on November 19, 2012
PETALING JAYA: French-based Club Mediterranee (Club Med), which operates the Club Med resort chain worldwide, is opening five new resorts in Asia Pacific within the next five years to increase its presence in the region.
With vibrant economic growth seen in emerging markets, global companies from mature markets continue to expand across the Asia-Pacific region, including in Malaysia.
Asia Pacific is currently the fastest growth region for the Paris-listed travel and leisure group.
It is understood that the group will invest more than RM200 million to open the five resorts.
According to Steven Tan, its sales and marketing manager for Malaysia, Club Med, which rakes in around 1.5 billion euro in revenue a year, is bullish on the outlook for Asia Pacific.
To be more concentrated, Club Med has split its business in the region into two units - Greater China, which covers China, Hong Kong and Taiwan, and East and South Asia Pacific comprising Southeast Asia, Japan, Australia, New Zealand and Korea.
Tan said Club Med, which is mulling a second resort in Malaysia, plans to open new resorts in China and Maldives between now and 2015.
In May, Club Med will open its second Chinese resort at Guilin, a 40-hectare site framed by misty jagged mountains that southern China is famous for.
"There are many more on our radar. Beyond five years, we are looking at Southeast Asia, targeting Indonesia, Vietnam and Cambodia," Tan told Business Times in an interview.
Since 2004, Club Med has sought to move upscale and set up resorts in developing countries.
In June, Club Med reported a 70 per cent increase in its first-half net profit. It gained 17 million euro from November through April, a threefold increase over the same period last year.
Its revenue increased 4.6 per cent to 798 million euro. The group reported a 10 per cent increase in Asian countries like China, Singapore and South Korea.
However, it remained prudent for the full year, due to uncertain global economic prospects, expecting its profit margin to be in the range of nine per cent.
-ENDS-
sharen@nstp.com.my
Published in NST on November 19, 2012
With vibrant economic growth seen in emerging markets, global companies from mature markets continue to expand across the Asia-Pacific region, including in Malaysia.
Asia Pacific is currently the fastest growth region for the Paris-listed travel and leisure group.
It is understood that the group will invest more than RM200 million to open the five resorts.
Set up in 1950 in France, Club Med offers all-inclusive vacations in 80 resorts in 40 countries, from beach to ski holidays for families, couples and the corporate sector. The group is the world leader for ski resorts.
According to Steven Tan, its sales and marketing manager for Malaysia, Club Med, which rakes in around 1.5 billion euro in revenue a year, is bullish on the outlook for Asia Pacific.
To be more concentrated, Club Med has split its business in the region into two units - Greater China, which covers China, Hong Kong and Taiwan, and East and South Asia Pacific comprising Southeast Asia, Japan, Australia, New Zealand and Korea.
Tan said Club Med, which is mulling a second resort in Malaysia, plans to open new resorts in China and Maldives between now and 2015.
In May, Club Med will open its second Chinese resort at Guilin, a 40-hectare site framed by misty jagged mountains that southern China is famous for.
"There are many more on our radar. Beyond five years, we are looking at Southeast Asia, targeting Indonesia, Vietnam and Cambodia," Tan told Business Times in an interview.
Since 2004, Club Med has sought to move upscale and set up resorts in developing countries.
In June, Club Med reported a 70 per cent increase in its first-half net profit. It gained 17 million euro from November through April, a threefold increase over the same period last year.
Its revenue increased 4.6 per cent to 798 million euro. The group reported a 10 per cent increase in Asian countries like China, Singapore and South Korea.
However, it remained prudent for the full year, due to uncertain global economic prospects, expecting its profit margin to be in the range of nine per cent.
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