The pioneer of village clubs, now refocused on the top of the range, has doubled its turnover thanks to a “strong rebound” in Europe and North America.
The Club Med group, a pioneer of village-clubs now refocused on the top of the range, regained its pre-pandemic activity in 2022, thanks to a “strong rebound” in Europe and North America, which enabled a doubling of its turnover. Last year, the volume of business stood at 1.7 billion euros, coming out twice as high as that of 2021 and returning to 99% of its 2019 level, specifies Club Med in a press release.
The year 2022 marked an “important step in Club Med’s strategy of moving upmarket” since the top of the range now represents 95% of its park of villages, thanks to the opening of seven new “resorts”, underlines Henri Giscard d’Estaing, chairman of the group, quoted in the press release. Another reason for satisfaction: the outlook for the first half of 2023 is “very encouraging”, he says, thanks to reservations up 36% for departures scheduled for the first half, compared to the same period last year.
Asia still heavily affected by the pandemic
In 2022, Club Med’s activity “continued and accelerated its rebound in Europe and the Americas”, following an already strong recovery in the second half of 2021, despite the impact, which varies from one country to another, of the Covid-19 pandemic in January and February, notes the group. Operating income stood at 98 million euros in 2022, returning to its pre-Covid level, thanks to the “excellent performance of Europe and the Americas”, despite the maintenance of travel restrictions in Asia and of the resumption of Covid-19 in China.
In France, turnover more than doubled over one year to 662 million euros, or 6% above its pre-pandemic level. As for the “Americas” zone, North and South, it recorded “a strong recovery” in 2022 (+89% over one year and +33% compared to 2019), benefiting from “strong demand in the United States and in Canada”, the upscaling of the offer and a “very strong increase in domestic travel in Brazil”.
On the other hand, Asia remained heavily affected by the pandemic, “despite the first signs of recovery” in the second half. Business volume remained almost halved (-48%) in 2022 compared to 2019, despite a catch-up in the second half.