The UK has emerged as a key player in Club Med’s record-breaking 2023 performance.
- With a 30% business growth, the UK reached €93 million, trailing only France in the Alps market.
- Club Med’s resorts operating income soared to €174 million, marking a significant shift upmarket.
- The company plans to unveil four new premium resorts, expanding its global footprint.
- Club Med’s ongoing transformation focuses on upscale offerings and a digital, global-local approach.
The UK’s role as a significant contributor to Club Med’s success in 2023 cannot be overstated. With business volume growth reaching 30% compared to 2019, the country achieved an impressive €93 million in revenue. This performance situates the UK as the second-largest market by business volume in the Alps, following only France.
Club Med has demonstrated a robust improvement in its financial outcomes, with resorts operating income rising to €174 million, a 64% increase year-on-year and over 70% since 2019. The company’s strategic pivot towards a more upscale market has been central to this achievement.
To build on its successful trajectory, Club Med is planning the introduction of four new premium resorts within the year—two in France and two in China—aimed at broadening its appeal and expanding into new markets.
The initiative has seen Club Med’s ‘Exclusive Collection’ properties welcome 139,000 customers, a 17% rise from 2022. Mountain resort visitors also increased to 355,000, up 26%, driven by a greater capacity and an average daily rate in Europe climbing to €239, largely due to inflation and a heightened demand for premium experiences.
Asia’s market has shown remarkable recovery with business volume nearly doubling from the previous year, tapping into the ‘revenge travel’ trend post-pandemic. This has been part of Club Med’s accelerated growth phase as overall bookings in the first half of 2024 are 14% higher year-on-year.
Club Med anticipates its entire portfolio will shift to premium and ‘Exclusive Collection’ resorts by April, emphasising its long-term commitment to upscale offerings. The accomplishment of a nearly €2 billion sales volume and a notable operating margin increase attest to the success of their strategic transformation.
Club Med’s strategic transformation and upscale market focus have driven substantial growth and record-breaking performance in 2023.
