Club Med, the trailblazer in premium all-inclusive vacations, has again shattered records with its performance in the first half of 2024. With its transformative 100% upscale strategy now entirely in place, the global luxury resort brand has cemented its leadership in the sun and ski vacation markets. The latest financial results reveal an impressive surge in business volume, profits, and guest numbers, solidifying Club Med’s position as the premier destination for luxurious, all-inclusive travel experiences.
Financial Milestones and Market Growth
The first six months of 2024 marked a period of remarkable success for Club Med, as the company reported a 9% year-over-year increase in business volume, totalling €1.15 billion. This performance builds upon the previous year’s record-breaking figures and demonstrates the effectiveness of Club Med’s strategic shift towards premium offerings. Additionally, operating income rose by 11% to €139 million, further underscoring the brand’s robust financial health and operational excellence.
Club Med’s unparalleled presence in the ski resort market is crucial to this success. In the first half of 2024, mountain resorts accounted for over 45% of the company’s total business volume, representing a 22% increase compared to the same period in 2023. This growth highlights the enduring appeal of Club Med’s luxurious ski resorts, particularly those in the European Alps, Canada, and Japan.
Global Expansion and New Openings
One of the most significant contributors to Club Med’s success has been its strategic expansion into high-demand regions, especially in the Asia-Pacific market. With the reopening of borders and increased travel demand, particularly from Australian travellers, the brand’s ski resorts in Japan have experienced unprecedented popularity. Club Med saw a 144% rise in sales for its four Japanese ski resorts, driven by a growing desire for premium winter vacations among Pacific region tourists.
Club Med Kiroro Grand.
Michelle Davies, General Manager for Club Med Pacific, expressed her excitement about the company’s stellar performance. “After achieving record-breaking results in 2023, we are thrilled to announce yet another remarkable performance for the first half of this year. Travel remains a top priority for Australians, and destinations like Japan and Bali are seeing exceptional growth.”
Club Med’s commitment to offering exceptional family and couple experiences at high-altitude resorts has been a cornerstone of its success. The company has invested heavily in upgrading its mountain portfolio, with new resorts in the European Alps, Canada, and Japan standing out as key contributors to growth. Notably, Kiroro Peak, which opened in December 2022, and Kiroro Grand, launched in 2023, have bolstered the brand’s presence in Japan and attracted a surge of visitors from the Pacific region.
Achieving the Upscale Transformation
In April 2024, Club Med completed its ambitious transition to a 100% upscale model, which began in 2004. This transformation involved closing 85 outdated resorts, renovating 20 existing properties, and opening over 50 new luxury resorts worldwide. The shift has resonated strongly with travellers, particularly those seeking all-inclusive, high-end experiences tailored to families and active couples.
Club Med Bali.
One of the highlights of this upscale transformation is the Exclusive Collection, a portfolio of elite resorts that cater to discerning travellers seeking unparalleled luxury. Global sales for this collection have surged by 11%, while guest numbers have increased by 5% compared to the same period in 2023. Popular destinations such as Finolhu in the Maldives and Val d’Isère in the French Alps have become top choices for Australian tourists seeking premium all-inclusive vacations.
Looking ahead, the Exclusive Collection will continue to expand by opening new resorts in prime locations. Among the most anticipated developments is the reopening of Kiroro Peak as an Exclusive Collection resort ahead of the 2024/2025 ski season. This will mark Japan’s first Exclusive Collection property, further enhancing the brand’s appeal in the Asia-Pacific market.
In addition to Kiroro Peak, Club Med plans to launch two more Exclusive Collection resorts in the coming years: Club Med Beach & Safari in South Africa and Club Med Musandam in the Middle East. Another major milestone will be the opening of Club Med Borneo in Malaysia in 2025, featuring a brand-new Exclusive Collection Space that promises to deliver a top-tier vacation experience.
Meeting the Growing Demand for Family Travel
As part of its upscale strategy, Club Med prioritises family-friendly offerings by introducing Family Oasis, a new concept designed to cater to families’ unique needs. The newly opened Family Oasis in Marrakech, Morocco, is a testament to this commitment, providing modern rooms and a dedicated family pool area with water games. Phuket, one of Club Med’s most popular resorts among Australian travellers, will debut its Family Oasis in early 2025, further enhancing its appeal to family travellers.
A Bright Future for Club Med
Looking ahead, Club Med shows no signs of slowing down. With demand for ski resorts continuing to rise—sales for the 2024/2025 season are already up by 29% compared to the previous year—the brand is poised for even greater success. As the global appetite for luxurious, all-inclusive vacations grows, Club Med remains at the forefront, offering unforgettable experiences in some of the world’s most desirable destinations.
Michelle Davies expressed optimism about the company’s future: “We are excited about what lies ahead as we continue to create unforgettable, luxurious travel experiences across the globe. Our 100% upscale strategy is resonating with travelers, and we are committed to exceeding their expectations with every stay.”
For more information about Club Med’s premium all-inclusive offerings, visit the Club Med Travel Agents Portal.
Written by: Michelle Warner
