November 6, 2000 — HVS International — Club Mediterranee, the French tour operator, has seen its share price fall 30% to Euro 95, since it issued a profit warning last September, when it stated that at worst its operating profit may be 10% lower than first predicted.
According to analysts at BNP Pari-bas, further gloom may be ahead for Club Mediterranee. An increase in the supply of hotel accommodation for summer 2001 of between 6% and 7%, oil prices resulting in increased airfares, the slide of the Euro and fear of a Middle East crisis impacting on tourism are all possible contributory factors.
Furthermore, Club Mediterranee is increasingly considered to be a takeover target, following Preussag, the German tour operator's acquisition of Nouvelles Frontieres.
* * * * * * * * * * * * * * * * * * * * * * * * * * * * *
HVS in 2000: Celebrating 20 Years of Valued Hospitality Consulting Service
This release is courtesy of HVS International, a global full-service hospitality consulting company. HVS International's numerous services including market studies & valuations, development consulting, litigation support, asset management,and more. Investment advisory services are available in the UK, Africa, Europe and the Middle East.
To subscribe to HVS Hospitality Enews, a free weekly newsletter, please send contact details to:
This information is protected by international copyright law and may not be reproduced without the express permission of the publisher.