The tourism subsidiary of Chinese conglomerate Fosun is looking to sell all or part of its luxury resort Atlantis Sanya, based on the island of Hainan. It is also said to be looking for investors for its other main asset, Club Med.
Fosun Tourism Group is looking to streamline its portfolio.
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On March 7, Fosun International’s tourism subsidiary confirmed the information revealed the day before by Reuters: its wish to sell all or part of its luxury hotel complex, Atlantis Sanya, in southern China. The aim was to reduce the company’s high level of debt.
“Fosun Tourism is constantly reviewing and optimizing its business portfolio, focusing on the growth of its core businesses and will continue to strengthen its operational capabilities,” the Chinese company said in a statement, before adding that its “operations are running well” and its “financial position is stable”.
Chinese Hawaii
Atlantis Sanya is located in the seaside town of Sanya, on the island of Hainan. Considered the “Hawaii of China”, this island province with its tropical climate, famous for its many beaches and luxury hotels and boutiques, has been welcoming more and more Chinese tourists since the 1980s. It is now also targeting an international clientele.
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Featured photo : Atlantis Sanya Resort, Haïnan, Chine © Fosun International
