ClubMed Lifestyle Group, a subsidiary of privately held Fosun International, submitted a listing application to the Hong Kong Stock Exchange for a proposed IPO.
The public version of the application redacted the proposed valuation, timing, or other terms. Joint sponsors are BNP Paribas, HSBC and J.P. Morgan.
The move would carve out one of the travel industry’s most recognizable resort brands as its own publicly traded company, while Fosun, China’s tour operator giant, keeps a controlling stake.
ClubMed Lifestyle Group’s primary business is running 69 ClubMed all-inclusive beach and ski resorts. It generated approximately $2.3 billion in revenue last year, up 1.3% year over year. Adjusted EBITDA was about $453 million.
ClubMed has spent years moving