Fosun Tourism’s Atlantis Sanya resort recorded a revenue of RMB150 million during the Chinese New Year vacation, demonstrating the strength of the FOLIDAY brand strategy.
This strong performance is indicative of both structural change in tourism in the region, and the strength of the ‘FOLIDAY Ecosystem’. FOLIDAY is the short term for Fosun Holiday.
Fosun’s website says: “As the leader in the leisure tourism industry for families worldwide, we bring up our lifestyle proposition of “Everyday is Foliday”, which is dedicated to creating a new FOLIDAY lifestyle, and aspire to bring greater happiness to global families”.
Sanya’s tourism market is characterised by two-tiered segmentation, with an emerging section of younger, higher income consumers seeking customised experiences driving that segmentation.
While visitor numbers to traditional scenic spots declined in varying degrees, new tourism complexes saw a marked increase.
FOLIDAY Ecosystem
Outlining the advantages of the FOLIDAY ecosystem, Fosun Tourism Group Chief Financial Officer Wang Wenping attributes Atlantis Sanya’s strong performance during the Chinese New Year vacation to a number of factors, including the ongoing structural evolution of the tourism market in Sanya, with increasing demand at the mid to high-end of the market.
In a report from Markets Insider, he also cites the unique positioning of Atlantic, a popular tourist attraction, in the leisure industry as the symbol of Sanya Tourism 3.0, adding: “In addition, the spectacular carnival shows at Atlantis Sanya Waterpark before the New Year’s Eve and Fanxiu’s ‘The C’ during the Chinese New Year vacation, have greatly enhanced the vacation experience of visitors.”
The impressive performance of Atlantis Sanya, a RMB 11 billon ($1.65bn) themed waterpark project that opened in April 2018, is a testimony to the success of the FOLIDAY Ecosystem, part of the Fosun Tourism Group’s Happiness Ecosystem, one of its three strategic business units – Health, Happiness, and Wealth.
Qian Jiannong, Fosun Tourism Group Executive Director and Chief Executive Officer, said: “Fosun Tourism’s subsidiaries no longer fight alone, they can now empower each other by joining FOLIDAY Ecosystem.”
Fosun Tourism Ecosystem comprises three business sections, including the resort operations of French leisure tourism and resort group Club Med, acquired by Fosun Tourism Group in 2015, and Club Med Joyview, launched in 2018 for the Chinese market, in addition to vacation services and solutions, and the development of tourism destinations.
https://markets.businessinsider.com/news/stocks/atlantis-sanya-of-fosun-tourism-recorded-a-revenue-of-rmb150-million-during-the-chinese-new-year-vacation-1027981963
