China's Fosun explores sale of Atlantis Sanya luxury resort, sources say
03/06/2024|12:56:22 PM|Yahoo! finance

Fosun International, the parent group of Fosun Tourism and Club Med, is exploring the sale of its luxury resort, Atlantis, located in southern China on Hainan island. The resort, spanning an area equivalent to 66 soccer pitches, features over 1,300 guest rooms with underwater views, a water park, aquarium, and shopping mall.

Fosun, known for its past acquisitions, is seeking to reduce debt, which stood at around $30 billion as of last June. The potential sale of Atlantis Sanya, reflects Fosun's strategy to scale back its presence in the tourism sector.

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