Fosun International is planning to relist its resort operator by spinning off Club Med Lifestyle Group for a Hong Kong IPO. The move aims to support the French vacation brand’s global growth and improve the company’s financial position.
The subgroup intends to increase its worldwide resort locations from 69 to approximately 85 by 2030, based on its recent IPO filing. This proposed listing comes as the Chinese conglomerate, with main interests in healthcare, travel, retail, and financial services, seeks to unlock value across its assets and strengthen its balance sheet.
Operating ski resorts in destinations like the French Alps and Hokkaido, along with beach resorts in the Maldives, Mauritius, and Mexico, Club Med Lifestyle plans to use the proceeds from the IPO to develop new resorts, upgrade existing properties, enhance digital and AI capabilities, optimize its capital structure, and cover operational expenses. The specific fundraising target has not been revealed.
This IPO would be a significant milestone in the company’s decade-long evolution under Fosun. Founded in France in 1950, Club Med pioneered the high-end all-inclusive vacation industry and was considered the largest resort brand globally by business volume in 2025, according to the IPO filing.
Fosun’s association with Club Med dates back to 2015 when it led a consortium to acquire the French company and privatize it from Euronext Paris. Subsequently, Club Med was merged with Fosun’s other tourism and cultural ventures to create Fosun Tourism Group.
The proposed spin-off also marks a return to Hong Kong’s public markets less than two years after Fosun Tourism was privatized. Fosun Tourism listed on the Hong Kong Stock Exchange in December 2018 but was taken private again in March of the following year amid a decline in its share price.
Despite generally steady revenue, Club Med Lifestyle’s profitability has declined this year. Its first-half net profit dropped 12% to EUR 57.1 million (around USD 66.2 million) compared to the previous year, while revenue remained nearly unchanged at EUR 1.1 billion (about USD 1.3 billion).
Since facing liquidity issues in 2022, Fosun has taken measures to bolster its financial health. During its interim results on August 28, management announced efforts to spin off and list non-core assets and continue divesting unrelated holdings.
In the first half of the year, Fosun generated over CNY 12 billion (about USD 1.8 billion) from selling non-strategic assets, which helped profit attributable to shareholders jump 160% year-over-year to CNY 1.7 billion (roughly USD 250 million). Revenue remained stable at CNY 87 billion, according to their interim financials.
Fosun’s shares closed the day up 2.7%, finishing at HKD 5.56 (approximately USD 0.70), with a 27% gain so far this year.