Photo Credit: A ClubMed in the U.S. Virgin Islands ClubMed
ClubMed's revenue rose less than 2% last year, suggesting that "premiumization" isn't delivering pricing power yet. An IPO would generate capital that might help fix that.
LinkedIn X Facebook Email Gift Why has ClubMed's premium repositioning failed to translate into higher pricing power or occupancy so far? How will the asset-light 'cultural tourism complex' model differ from ClubMed's traditional owned-resort operations? What valuation is ClubMed likely to target, and how does it compare to the 2018 listing near $2.4 billion? Select a question above or ask something else
ClubMed Lifestyle Group, a subsidiary of privately held Fosun International, submitted a listing application to the Hong Kong Stock Exchange for a proposed IPO.
The public version of the application redacted the proposed valuation, timing, or other terms. Joint sponsors are BNP Paribas, HSBC and J.P. Morgan.
The move would carve out one of the travel industry’s most recognizable resort brands as its own publicly traded company, while Fosun, China's tour operator giant, keeps a controlling stake.
ClubMed Lifestyle Group's primary business is running 69 ClubMed all-inclusive beach and ski resorts. It generated approximately $2.3 billion in revenue last year, up 1.3% year over year. Adjusted EBITDA was about $453 million.
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Tags: all-inclusive resorts , china , club med , clubmed , fosun , ipo , IPOs
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