Club Med set for listing on the Hong Kong Stock Exchange: Fosun prepares for the spin-off

After delisting from the Paris Stock Exchange 11 years ago, Club Med is preparing to return to the stock market, but this time in Hong Kong. The company, which is controlled by Fosun International and operates the group’s tourism business, has submitted an application to list on the Main Board of the Hong Kong Stock Exchange. The company – of which Club Med is the main brand – is heading to the stock market following a year of growth in 2025. Turnover reached €1.95 billion – compared with €1.86 billion in 2023 – whilst gross profit rose from €540 million to €590 million. Adjusted EBITDA stood at 390 million, representing a margin of 20.2 per cent.

The company also emphasises that, in 2024, it completed the process of positioning its entire portfolio at a higher end of the market, with positive effects on its ability to generate revenue. Club Med now has 69 premium resorts worldwide, spread across more than 40 countries and territories, with a sales network spanning six continents. According to the documents filed for the listing, in 2025 the brand was the world’s leading operator of all-inclusive resorts by revenue, as well as being the market leader in the EMEA and Asia-Pacific regions. It is also the world’s largest brand of resorts dedicated to mountain and winter sports in terms of the number of properties.

The growth plan focuses primarily on international expansion. ClubMed Lifestyle Group aims to reach around 85 resorts by 2030, through new openings and the development of premium destinations in the Alps, the southern Mediterranean, North Africa, North-East and South-East Asia, North America, the Caribbean and South America. The Middle East is also among the emerging markets under consideration.

The forthcoming listing is expected to support this very strategy. The proceeds will be used primarily to expand the global network of resorts, enhance the range of tourist offerings, and invest in digital technologies and artificial intelligence. A portion of the funds will also be used to optimise the capital structure and support operational activities.

The transaction, which will be led by BNP Paribas, HSBC and J.P. Morgan, comes at a time of transformation for the sector, with demand increasingly shifting towards integrated travel experiences and leisure-focused holidays, rather than simply sightseeing. Fosun thus aims to further enhance a brand that boasts 76 years of history and represents the cornerstone of the group’s international tourism strategy. “The submission of the listing application in Hong Kong marks a significant milestone for Fosun’s tourism business,” said Xu Xiaoliang, Chairman of Club Med Lifestyle Group. The aim, he added, is to accelerate the development of high-quality resorts globally and to transform holidays into a lifestyle ‘that transcends borders’.