Fosun Tourism Takes Off Globally, But Gets Grounded in China

Revenue from the Club Med operator’s resort operations quadrupled in the first quarter, as many countries reopened their borders to tourists Key Takeaways: Club Med operator Fosun Tourism reported a fourfold increase in revenue from its resort operations in the first quarter despite a resurgence of the Covid-19 Omicron variant Company is expected to return to profitability this year, with valuations that look competitive with other major global tourism stocks By Doug Young Omicron, what Omicron? That’s the key takeaway coming from a decidedly upbeat first-quarter update released late on…

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