Yesterday on the Paris stock exchange, the Club Med title flew, ending up 9.13 to 13.75 euros, after the announcement the day before by the tourist group arrived in the capital of the private Chinese conglomerate Fosun 7.1. The two groups have, moreover, established a "strategic partnership" for the construction and exploitation of tourist complex high-end in China. Friday, the action is was already appreciated by more than 9, after the presentation of the accounts of the first half of this year, marked by a return to profit after two years of losses ("Les Echos" from June 14).
For Anne Bonal, analyst at Gilbert Dupont, this partnership "is a good thing because Fosun has expressed its willingness to remain shareholder of the Club Med in the long term, which consolidates the capital of the latter structure and allows it to accelerate the opening of its Chinese villages". The analyst stressed, moreover, Fosun is very present in real estate, which is in phase with the choice of the firm to the trident to focus on "asset light", i.e. to operate rather than property management contract. The Chinese conglomerate involved in media and communication, "which will facilitate the distribution of the Club Med products in China in making known the brand and foster the growth of customer Chinese in other villages around the world," continues Anne Bonal, which welcomes that all operational and financial indicators are green. It also expects tensions on the title in the coming months, Fosun having part of his wish to climb again to the capital.
Shareholders owners
"This breakthrough on China, it is more than a year that spoke of Club Med", observed on the other hand Sebastian Valentin, analyst at Société Générale, which considers this movement "positive not only on the reinforced presence that gives the group in this country, but as a validation of the strategy in the long term of the President and CEO, also Henri Giscard d'Estaing"", to create partnerships with owners as with Fipar or Rolaco shareholders." Since 2004, the pattern of Club Med operates a range rise as reflected by 50 closures of villages and the renovation further 70 others. At the time, the broker set a goal of course to 18 euros.
"China offers great potential at tourist level, with overall revenues estimated at more than 120 billion EUR and growth two figures", said his side Jean-Marie Lhomé of Aurel Oro. But the trident brand wants to make its second market Middle Kingdom after the France, from here to end 2015. To achieve this, he had already planned to open in November in deemed ski resort of Yabuli northeast of the country, a luxury hotel of 284 rooms, Melco China Resorts property (Wisecord Holding), and studied a seaside village and another "discovery" site project The objective is to open 5 "villages" high line, always on the horizon of 2015 and attract Chinese customers 200,000 against slightly more than 30,000 in 2010. According to Guo Guangchang, the Chairman of the Board of Directors of Fosun, the aims of Club Med joined his group policy to invest in the growth sectors of the Chinese economy. The direction of the French group reserves however the possibility, while maintaining relations with Fosun to collaborate with other Chinese partners for the achievement of these tourist complexes.
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