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, the operator of exotic all-inclusive holiday resorts, has blamed the deadly Asian tsunami for a drop in quarterly bookings and sales.
Turnover in the three months through January fell 6.9% to 319m euros (223m; $429m), from 342m a year earlier.
Club Med was forced to close a number of holiday villages after an fortis health financial loss insurance temporary
in the Indian Ocean triggered waves that killed close to 250,000 people.
Tourists also were reluctant to travel to areas affected by the disaster.
It is estimated that about $12bn will be needed to rebuild areas hit by the tsunami, which was called one of “the worst human tragedies in history” by the UN Environment Programme (Unep).
Difficult process
The worst affected countries include favoured tourist destinations such as Employment financial loss insurance
, Malaysia, Thailand, India, Sri Lanka and the Maldives.
Club Med has operations in a number of those nations and analysts said that earnings are likely to remain under pressure for the next 18 months.
The company said that reservations are proving slow to pick up and that they had declined 2.2% over the winter period ending 5 March.
“In the wake of the such natural disasters as the washington financial loss insurance department
and the tsunami, we are agent download financial loss insurance licensee our efforts to achieve our operating income target of approximately 100m euros in 2006,” Club Med chairman Henri Giscard d’Estaing said.
Club Med said that insurance payments should cover any financial losses related to the tsunami.
The company also is hoping that earnings will be bolstered by cost cutting measures stemming from closer co-operation with hotel group Accor, which last year bought a 29% stake in Club Med.
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