By December 2008, Club Med will introduce
its fully updated portfolio of properties, following a $530 million
investment in fiscal years 2006 and 2007 that included the
permanent closing of five resorts and the total upgrade and
renovation of seven others, targeted at the upscale family market.
upgraded resorts are the Club Med Cancun Yucatan, Cancun, Mexico;
the Club Med La Caravelle, St. Anne, Guadeloupe; the Club Med Aime
La Plagne, Macot La Plagne, France; the Club Med Opio in Provence,
France; and soon, the Club Med Albion, Port Louis, Mauritius; the
Club Med Ixtapa Pacific, Zihuatanejo, Mexico; and the Club Med
Club Med's new
business models adapt resort development and management structures
to each property and region and include the use of management
contracts, long-term leasing and mixed-use developments, according
to company officials.
The French hotel
firm currently operates six resorts via management contracts in
Egypt, France, Turkey and Israel. Local labor is used for the
resort's daily operations, while Club Med staff fill leisure and
Med Buzios in Brazil will be the hotel firm's first condominium
resort development with 300 units sold to individual
improve profitability and capacity without additional capital
outlays, Club Med will develop residential villas adjacent to
select resorts. Club Med Albion will introduce the first villas,
while several other villa sites, specifically at its resorts in
Guadeloupe and the Dominican Republic, are being looked
are under study in Costa Rica, Belize, the Dominican Republic
(there is one Club Med resort at present) and Mexico (two resorts
currently); the firm also has sites in Nicaragua, Guatemala and
Honduras under consideration.
To contact the reporter who wrote this article, send e-mail
to Gay Nagle Myers at [email protected].