(Reuters) – Fosun Tourism Group 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 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)
Comments