Chinese conglomerate Fosun's tourism unit says reviewing business portfolio

Fosun Tourism

07/03/2024 03:06

March 7 (Reuters) - Fosun Tourism Group  1992.HK  said
on Thursday it was reviewing its business portfolio, in response
to a Reuters report that it was exploring the sale of a hotel
resort.
    Fosun International  0656.HK  is looking to sell all or part
of its luxury resort Atlantis in southern China as part of its
efforts to reduce debt, Reuters reported on Tuesday citing
sources. Fosun's Hong Kong-listed unit Fosun Tourism Group owns
the resort.    
    "Fosun Tourism consistently reviews and optimises its
business portfolio, focuses on the growth of core businesses,
and will continue to strengthen operational capabilities," the
tourism company said in a statement. 
    "The company's business is operating well with stable
financial condition," it added. 
    Fosun Tourism accounts for 9% of Fosun International's
overall revenue. Its other main asset is Club Med and sources
have said it is also exploring the sale of a minority stake in
the luxury resort chain, Reuters reported last month.
    The Fosun International conglomerate's other businesses span
healthcare, financial services and property.

 (Reporting by Kane Wu and Julie Zhu; Writing by Roxanne Liu;
Editing by Himani Sarkar)
 ((Reuters Messaging: kane.wu@thomsonreuters.com))