Club Med Reports Record Figures in 2023
Club Med reached record-breaking figures of nearly 2 billion euros internationally in business volume for the first time in its history. Specific to North America, data shows that stays are up 50% compared to 2019 (surpassing pre-pandemic levels). This, coupled with the rise of “do-nothing” vacations, shows that guests are hungrier than ever before for the type of hassle-free vacation that all-inclusive resorts offer.
Club Med 2023 Key Data:
Global
- Business volume of Club Med amounted to €1,981 Billion, representing an increase of +17% compared to 2022 (€1,699 Billion), and +16% versus 2019, based on upgraded, but reduced resort capacity of 2,3% compared to 2019.
- More than 1.5 million customers vacationed at Club Med, a steep increase of +16% compared to 2022.
- In 2023, business volume of Club Med Mountain resorts increased by +33% compared to 2022 and amounted to €523M (770MCAD)
- In 2023, the business volume of the Exclusive Collection amounted to €294M (433MCAD), up +18% compared to 2022.
- Its average daily rate reached €315 (464CAD), representing +40% more of the average ADR of the group.
- Bookings in the first half of 2024 are up 14% (as of 3/2/24) compared to the same period of 2023, which was already at a record level. A +7% in Europe and +51% for Asia thanks to the "revenge travel" phenomenon following the reopening of several destinations and markets in Southeast Asia, the gradual recovery of the tourism sector in China.
The increase of 50% of its operating margin, close to 10%, and its record net profit demonstrates the success of Club Med's new business model, whose transformation to premium and luxury resorts started in 2004 and will have all its global resort portfolio converted by April 2024.
North America
The number of customers in the North America region is up 17% compared to 2022 and of more than +62% compared to 2019.
Business volume of the Americas region amounted to 473M CAD and increased by +11% as compared to 2022, and by +50% compared to 2019.
The North America region benefitted from Canada becoming a strategic market after the successful opening of its first mountain Resort, Québec Charlevoix in late 2021, its overall “halo effect” on the business, and the development of the Ontario market.
Club Med is continuing its growth trajectory with 3-5 new resorts and renovations each year including a new mountain resort in North America in 2026. In 2023, Club Med opened 4 new premium & Exclusive Collection resorts including the Exclusive Collection Space at Club Med La Rosiere (French Alps) and Club Med Kiroro Grand in Hokkaido, Japan. In 2024, Club Med will reveal 4 new Premium resorts in France and China. In North America, Club Med Cancún is undergoing renovations with a new Sports & Wellness Island and an enhanced dedicated Family Oasis and Children’s Clubs.
