Fosun Files for Club Med IPO in Hong Kong

Club Med Lifestyle Group, controlled by China's Fosun International, has filed for a Hong Kong IPO to spin off the iconic all-inclusive resort brand into a publicly traded company while Fosun retains control. The group operates 69 resorts, generating roughly $2.3 billion in revenue last year (up 4.8%) and about $453 million in adjusted EBITDA. Despite a multi-year premium repositioning, financials suggest limited pricing power and occupancy stuck near 62% for three years. This is Fosun's second attempt at public markets for the brand, following a 2018 listing and a March 2025 privatization. Proceeds would fund expansion toward ~85 resorts by 2030, including asset-light 'cultural tourism com…