Fosun Tourism Invests in Ski Resorts as Winter Sports Consumption Rises in China
Fosun Tourism and the Ski Resorts Boom
Fosun Tourism Group, the owner of the Club Med chain, is pivoting towards winter sports facilities to harness the burgeoning interest in skiing and skating across China. Despite a general decline in tourist spending on food and hotels, excitement for winter sports has significantly escalated.
Winter Sports Consumption Trends
Fosun's co-president, Andrew Xu, noted that there’s a glaring deficit of premium ski resorts in mainland China, where spending on winter sports increased dramatically, reaching 150 billion yuan (~US$21 billion) in four years. This sector of the market is poised for growth, especially as tourist attractions centered around snow and ice emerge as a focal point for investment.
Future Prospects for Fosun's Resorts
- Fosun’s recent opening of the Taicang Alps Resort was met with strong interest, generating significant visitor numbers and revenue.
- The company is committed to an asset-light strategy, seeking to manage more resorts for property owners across China.
- With rising consumer engagement in winter sports, the landscape is becoming increasingly competitive, with various developers entering the scene.
Challenges in the Tourism Market
Despite the positive trends in winter sports, the broader tourism market remains vulnerable as Chinese consumers tighten their budgets, influenced by economic uncertainties. Although domestic travel has surged, per capita spending has lagged, indicating a preference for budget options.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.