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Fosun Tourism reports 74.5% business volume decrease in Q1 2021

04/21/2021| 3:14:44 PM| ChinaTravelNews 中文

In the first quarter of 2021, Thomas Cook China and UK achieved a cumulative GMV of approximately RMB 163.2 million.

Fosun Tourism, the leisure travel unit of Chinese conglomerate Fosun International and parent of French resort brand Club Med, reported that for the three months ended 31 March 2021, the business volume of the Group’s resorts and destination operations and tourism and leisure services and solutions, at constant exchange rate, decreased by approximately 74.5% from approximately RMB 4,139.8 million (USD 637.6 million) for the three months ended 31 March 2020 to RMB 1,057.5 million (USD 162.9 million). 

For the first quarter of 2021, Club Med’s major overseas customer sourcing markets and tourism destinations, all ski resorts of Club Med in the Alps (except Saint Moriz resort in Switzerland) were closed and inactive for the 2021 snow season and outbound travel from major customer sourcing markets were suspended. 

As the overseas Pandemic outbreak started from late March 2020, in the first quarter of 2021, the business volume of the resort operations decreased by 85.3% compared to the same period of last year. 

In the first quarter of 2021, despite the resurgence of the Pandemic in China and the promotion of “staying put for the Lunar New Year festival” policy, the business volume of Atlantis Sanya grew by approximately 161.0% compared to that of the same period in last year, recovering to 93.6% of that for the first quarter of 2019. 

Atlantis Sanya welcomed approximately 1.19 million visitors, representing an increase of 125.4% compared to that of the same period in last year, with an average room occupancy rate of approximately 74.2% and an Average Daily Rate of approximately RMB 2,440. 

The Group made a rapid progress in the process of industrial digitalization in the first quarter of 2021. Since the launch of the Thomas Cook lifestyle platform in July 2020, there were 990,000 app downloads and 595,000 active monthly users as of end of the first quarter of 2021. Thomas Cook online travel agency business, which started its trial operation in the UK in September 2020, recorded robust performance in the first quarter of 2021 thanks to the effective control of the Pandemic in the UK. 

In the first quarter of 2021, Thomas Cook China and UK achieved a cumulative Gross Merchandise Value (“GMV”) of approximately RMB 163.2 million.

TAGS: Fosun Tourism | Club Med
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