Fosun Tourism evaluates business portfolio

Thursday, March 7, 2024

Fosun Tourism Group announced on Thursday that it is currently conducting a review of its business operations. This announcement came in light of that the company was considering the sale of one of its hotel resorts. Specifically, Fosun International was contemplating the disposal of either the entirety or a portion of its upscale Atlantis resort situated in southern China. 

This move is part of Fosun’s broader strategy aimed at diminishing its debt levels. The Atlantis resort falls under the ownership of Fosun Tourism Group, a subsidiary listed in Hong Kong of Fosun International.

In its statement, Fosun Tourism Group emphasized its ongoing commitment to assessing and enhancing its business portfolio. The company underscored its focus on nurturing the growth of its core ventures while simultaneously vowing to amplify its operational competencies. Furthermore, it reassured that the business is maintaining a stable financial state and is performing well.

Contributing to 9% of Fosun International’s total revenue, Fosun Tourism’s principal assets include not only the Atlantis resort but also Club Med. In a report from the previous month, Fosun is also deliberating the sale of a minority stake in the Club Med luxury resort chain as part of its portfolio optimization efforts.

Fosun International, the conglomerate behind Fosun Tourism, operates across various sectors, including healthcare, financial services, and real estate. This review of its tourism arm’s business portfolio signifies Fosun’s strategic efforts to streamline its operations and enhance financial stability through selective asset divestiture.

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