Driven by its rise to the higher market, Club Med flirted with 2 billion euros in turnover for the first time in 2023

Driven by its rise to the higher market, Club Med flirted with 2 billion euros in turnover for the first time in 2023

The page of “ Tanned », the aperitif games and the Spartan bungalows, are closed. Club Med’s president, Henri Giscard d’Estaing, has made the tourism operator’s move into the high-end market a priority for years.

Today it bears its juicy fruits. Club Med was happy with this performance this Friday “record results” in 2023. Turnover increased by 17% in 2023 compared to 2022 to 1.981 billion euros. It is the first time in its history that the group has flirted with 2 billion. Net profit amounted to 99 million euros, according to a press release. The profit for 2022 had not been made public. The group’s operating margin was 9.5%, compared to 6.2% in 2019, before the pandemic.

The year 2024 marks the successful completion of the increase in our resort portfolio.” stated Club Med president Henri Giscard d’Estaing, quoted in the press release. “ With another strong increase in bookings for the first half of 2024, Club Med confirms its ambition to be a French world champion and the most sought-after lifestyle tourism brand » added the leader.

By 2023, 97% of Club Med hotels were high or very high end. in April 2024 this will be 100% ,” the group said.

The number of customers increased by 16%

In 2023, the number of Club Med customers increased by 16% year-on-year to 1.5 million,” mainly driven by Asia’s recovery from pandemic-induced travel restrictions in 2022 “, the press release said. In Asia, the group’s sales increased by 96% compared to 2022. The number of customers increased by 50% compared to 2022 and exceeded pre-pandemic levels by 5%. Turnover in Europe amounted to 1.195 billion euros and increased by 7% compared to 2022 and 11% compared to 2019. Turnover in America (North and South) amounted to 478 million euros and increased by 23.5% compared to 2022 and 62.7%. % compared to 2019.

France remains the leading market in the world with a turnover of 743 million euros, representing 37.5% of the total, an increase of 5.4% compared to 2022 and 9.8% compared to 2019. In 2024 two new Club Meds are opened in Vittel (Vosges). ) and Serre-Chevalier (Hautes-Alpes). And two more will be inaugurated in China.

Overtourism: the French demand quotas

The recovery of the sector continues

Like many other tourism players, Club Med is therefore benefiting from the recovery in the sector that has continued since the lifting of all restrictions, especially in Asia. “ International tourism is expected to fully return to pre-pandemic levels by 2024 » and even go a little further since the first estimates show numbers “ 2% higher than in 2019 », According to the UN agency UN Tourism. International tourism should especially benefit from “ recovery across Asia », facilitating the issuance of visas in China and the increase in air capacity, or the unified visa (Shengen type) introduced by the Gulf cooperation countries (Saudi Arabia, Oman, Kuwait, Bahrain, United Arab Emirates, Qatar).

“Europe should still be at the forefront in 2024 » markets according to the organization. “ In March, Romania and Bulgaria will enter the Schengen area of ​​free movement and in July and August, Paris will host the Summer Olympics » she emphasizes.

Tourism: France has raked in an “exceptional” amount of money this year thanks to foreign travellers

HAS looking for good value for money

It is in this euphoric context that the world tourism fair opened in Paris on Thursday. The only cloud, but significant, is the price increase: “ Persistent inflation, high interest rates, oil price volatility and trade disruptions could continue to impact transportation and accommodation costs in 2024 », tempers UN tourism, which expects this where tourists are increasingly looking for good value for money and travel less far from home “.

In France, only 52% of French people will treat themselves to a stay in paid accommodation during the year, compared to 55% in 2023 and 56% in 2022, according to a survey by consultancy Protourisme. “ We see a decline in the departure rates of professionals, craftsmen, employees and retirees, while the departure rates of mid-level professions, employees and managers are equal to or higher than last year. », indicates Didier Arino, director of Protourisme, who specifies: “ This year, only 10% of holidaymakers say they have a higher holiday budget, while almost a third say they have a decreasing budget and 56% say they have an equivalent budget. “.

(With AFP)

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