Club Med Hits Record-Breaking $2 Billion Business Volume Milestone

Laurie Baratti

Club
Med, the hospitality leader renowned for pioneering the now-popular
all-inclusive concept, has just released new data showing that the company has reached
a fresh milestone by achieving more than $2 billion in international Business
Volume for the first time ever.  

 

In North America,
specifically, Club Med is seeing a remarkable surge of 50 percent in guest
stays compared to 2019’s pre-pandemic levels. Together with the trendiness of
the “do-nothing vacation”, these figures indicate an ever-increasing appetite among
consumers for supremely hassle-free getaways.

Key 2023 data
compiled by Club Med reveals significant achievements on a global scale. After
all, the company currently operates 68 Premium and Exclusive Collection
Resorts, in the Americas, Caribbean,
Europe,
Asia  and Africa,
and its continuing to develop strategically worldwide. 

Club Med’s 2023 Key Data: 

  • Business
    Volume soared to €1.981 billion ($2.156 billion), marking an impressive 17
    percent increase compared to 2022 and a 16 percent rise versus 2019 (factoring
    in upgraded, although reduced, resort capacity).
  • Notably,
    more than 1.5 million guests indulged in Club Med’s all-inclusive vacations in
    2023, reflecting a remarkable 16 percent increase compared with 2022’s numbers.
  • At Club
    Med’s mountain resorts, Business Volume saw an astonishing 33 percent surge when
    compared with the previous year, amounting to €523 million ($569 million).
  • The
    Exclusive Collection, renowned for its 5-star offerings, reported a Business
    Volume of €294 million ($320 million), up by a striking 18 percent compared to
    2022.

    • The
      average daily rate for the Exclusive Collection reached €315 ($343), marking a
      40 percent increase over the group’s overall average ADR.
  • Looking
    ahead, the bookings for the first half of 2024 show a promising trend, with a
    14 percent increase compared to the same period in 2023. Europe is seeing a seven
    percent rise, while Asia is witnessing a staggering 51 percent surge as a result
    of the reopening of several Southeast Asian destinations and China’s tourism
    sector treading the path toward recovery.
  • In
    North America, the momentum also continued with a 17 percent increase in the
    number of customers compared to 2022 and an impressive surge of over 62 percent
    compared to 2019. The region’s Business Volume amounted to $350.5 million, denoting
    an 11 percent increase compared to 2022 and a stunning 50 percent rise compared
    to 2019. Canada emerged as a strategic market, bolstered by the successful 2021
    launch of Club Med’s first mountain resort, Québec
    Charlevoix.
Couple vacationing at a Club Med resort.

Couple vacationing at a Club Med resort. (Photo Credit: Club Med)

Club Med’s strategic
growth course continues steadfastly, with plans for three to five new resort
openings or renovations per year. In 2023, Club Med unveiled four new Premium
and Exclusive Collection resorts, including the Exclusive Collection Space at
Club Med La Rosiere in the French Alps and Club Med Kiroro Grand in Hokkaido,
Japan.

This year, the company is set to launch four new Premium resorts in
France and China. And, on the horizon are a new mountain resort in North
America, and the new Club Med South Africa Beach & Safari, both scheduled
to debut by 2026. 

In response to the
findings, Club Med’s President, Henri Giscard d’Estaing, remarked, “After
returning to its pre-pandemic level as early as in 2022, Club Med reached
nearly 2 billion euros in Business Volume for the first time in its history. 

“The increase of
50 percent of its operating margin, close to 10 percent, and its record net profit
demonstrates the success of Club Med’s new business model, whose transformation
started in 2004. 

“2024 will mark
the successful finalization of the move upmarket of our resort portfolio. In
its 74-year history, Club Med has never had such a desirable portfolio of resorts,
either new, recent, or renovated. 

“With a new strong
increase in bookings for first half [of] 2024, Club Med is well on track to become
a French world champion and the most desirable lifestyle tourism brand,
offering a life-changing experience to its employees and contributing to
sustainable tourism.”


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