Business Volume grew to €1.06 billion, 32% up on 2022
Club Med achieves record-breaking first half of year results
Luxury all-inclusive travel brand Club Med has revealed record-breaking financial results for H1 2023.
Business volume for the company has increased by €1.06 billion (32%) compared to H1 2022.
The operating profit for the same time period equated to €159 million as the brand recovered to pre-pandemic levels and the adjusted EBITDA represented €265 million.
Results were driven by a “strong recovery” across all business units in Europe, Americas and Asia, with particularly a strong performance for Mountain Resorts' winter season, representing over 40% of Club Med business volume in the first half of 2023.
Resort capacity increased by 13% compared with 2022 and recovered to 99.2% of the 2019 level.
Bookings are up 6% for departures scheduled in the second half of 2023, compared to the same period last year.
Henri Giscard d’Estaing, president of Club Med, said: “Following a strong recovery since the second semester of 2022, we have achieved record high figures for the first half of 2023, despite the macroeconomic and inflationary context.
“Our Business Volume increased by 32% and our operating income reached a record high level.
“These results are mainly driven by the remarkable performance of our Club Med Mountain Resorts this winter, thanks to the massive investment in recent years to upgrade the mountain’s Resorts portfolio, and the opening of new Resorts in the Alps, Canada and Japan.
“This winter, Club Med has seen the Business Volume of its Mountain Resorts increased by more than 45% compared to that of the same period of 2022.
“Number of customers increased by 30%, and its ADR was up by 10% compared to the same period of 2022.
The outlook for the second half of 2023 is showing a strong momentum in ‘travel revenge’ in Asia. Our successful strategy and profitable business model should enable Club Med to drive future profitable growth."
The business volume of Europe stood at €621 million and increased by 14.3% and 12.7% compared to the same period of 2022 and 2019 respectively.
Capacity of resorts in EMEA increased by 12.5% as compared to the same period of 2022 and recovered to 91.4% of the levels in 2019.
The number of customers reached over 314,000, 8% more than in the same period of 2022.
The business benefited from ADR in Europe being €253, growing by more than 9% over the first half of 2022, and by more than 32% over 2019.