VW’s $5.8B Rivian Deal Hinges on Key Milestone Achievements
Volkswagen Group has invested a substantial $5.8 billion in Rivian, a promising electric vehicle (EV) startup. However, this investment …
The owner of Club Med is bullish on China’s reopening and says the alternative is ‘not for a deal’
- Industrytech
- March 29, 2023
- 5:03 am
- No Comments
March 29, 2023: On Monday, Club Med is “very optimistic” regarding China’s reopening, an executive from Fosun Tourism Group said, adding that the luxury resort chain is “definitely not for sale.”
On Monday, Xu Bingbing, its co-president, told in an exclusive interview that “Fosun Tourism Group is from the core businesses of Fosun, and Club Med is one of the core firms of Fosun Tourism Group.” The Fosun Tourism team is the leisure arm of the Chinese conglomerate Fosun International.
In November, Bloomberg reported that Fosun International is exploring “strategic options” for Club Med to reduce debt.
“We are happy to see if partners in different parts of the world can provide synergy for us, but Club Med is not for sale,” said Xu, the CEO of Club Med China.
While there’s been a “huge demand for outbound travel” since China’s reopening, there’s still little catching up to do, Xu acknowledged.
“So far, the air capacity from our huge sourcing market to major destinations is not yet there.”
Xu added that he foresees the peak of outbound travel this summer, along with increasing per capita spending of its “target clients.”
There was a significant rebound in Club Med’s firm from the Americas and EMEA in the second half of 2021. However, operating profit in Asia-Pacific is still “far less than the pre-Pandemic level,” Fosun Tourism Group said in its 2022 revenues release.
- Categories: News
About Us
We provide the insights on leaders who are responsible for taking their organization to new heights, all the while bringing together a group of talented individuals.
Recent Posts
The Lake Companies | Making Manufacturing Easier…Forever! | Greg Lake
The Lake Companies knows that to achieve best practices, specific daily business processes must happen and be done as simply as possible, even without human effort. “That’s how we develop our ERP software products. We strive to completely transform internal business processes and revolutionize the user experience with our software,” says Greg Lake, President of The Lake Companies. “Building the support for best practices in our software allows our customers to achieve far more than they anticipated, while paving the way for growth into advanced IoT and Industry 4.0 technologies. Our Simple, Elegant, and Powerful solutions are built specifically for and seamlessly integrate with Infor’s SyteLine®(CloudSuite®) ERP.”
Omron Automation | A Leading Solution Provider in Industrial Automation | Robb Black
Omron Automation Americas is a division of Omron, an industrial automation leader that creates, sells, and services fully integrated automation solutions including sensing, control, safety, vision, motion, robotics, and more. Established in 1933, Omron’s team of more than 30,000 employees helps businesses solve problems with creativity in more than 110 countries around the world.
Gecko Robotics | Transforming the Manufacturing Industry | Ed Bryner
Sitting in the decommissioned elevator shaft of an old industrial warehouse in the historic Point Breeze neighborhood of Pittsburgh, PA, Ed Bryner and a small team of mechanical engineers watch a robot scale old, rusted piping.
Using Industrial Automation to Revitalize Infrastructure
“We rely so heavily on so many of these industrial assets and a lot of them are getting really old,” said Bryner, Director of Engineering at Gecko Robotics. “You see it with bridges and roadways. But buildings, power plants, pipelines, and more need a lot of infrastructure inspections, too.”
Exel Computer Systems PLC | Offering A Comprehensive & Flexible Business Solution | Rue Dilhe
Exel Computer Systems plc was established in 1985, and today, the company is a leading force in providing comprehensive, AI-enabled solutions for manufacturing companies and field service providers. Exel serves an increasingly diverse customer base, which includes small, medium and large size companies. With hundreds of successful implementations and thousands of users in the UK and worldwide, Exel has a proven track record of working with some of the world’s most well-known companies.
Micro Estimating Systems, Inc | Empowering Manufacturers to Make Informed Decisions | Joseph Rose
Manufacturers often struggle with generating accurate and timely quotes, delaying customer responses and risking profitability. Traditional quoting processes can take days or even weeks, while customers expect responses within 24 hours. Micro Estimating Systems addresses these challenges with advanced software that allows users to generate highly accurate quotes in minutes. By integrating with shop-specific data and automating feature recognition, their solutions ensure precision and speed, empowering manufacturers to make informed decisions and enhance their operational efficiency.