PARIS, Aug 29 — Fosun, the Chinese owner of Club Med, on Friday said it had filed for an initial public offering in Hong Kong for the travel operator and its ClubMed Lifestyle and other tourism-focused businesses.

“Upon completion of the proposed listing, proceeds... will be used primarily to expand its global resort network, upgrade its vacation offerings, and strengthen its digital and AI capabilities,” a company statement read.

Fosun withdrew Club Med from the Paris stock exchange after acquiring it in 2015.

The new entity, with Club Med as its flagship, plans to operate about 85 resorts by 2030 in a rapidly growing market, the statement added.

Club Med currently has 69 resorts worldwide and recently announced plans to open new sites to reach 100 resorts by 2035.

Club Med’s chief executive Stephane Maquaire said in an email that the listing “marks an important step in the evolution of our group’s shareholding structure”.

“This new momentum gives Club Med the means to accelerate its international development.”

Fosun had been opposed to returning the holiday club brand to the stock market and listing had been a sticking point with Club Med’s former chairman, Henri Giscard d’Estaing.

He said in June last year that he wanted to “return to the Paris stock exchange as early as the first half of 2026”. — AFP