(Reuters) – Fosun Tourism Group said on Thursday it was reviewing its business portfolio, responding to a Reuters report that it was exploring the sale of the resort hotel.
Fosun International plans to sell all or part of its Atlantis luxury resort in southern China as part of efforts to reduce debt, Reuters reported on Tuesday, citing sources. The resort is owned by Fosun’s Hong Kong-registered company, Fosun Tourism Group.
“Fosun Tourism is consistently reviewing and optimizing its business portfolio, focusing on core business growth and will continue to strengthen operational capabilities,” the tourism company said in a statement.
“The company’s business is doing well and its financial condition is stable,” the company added.
Fosun Tourism accounts for 9% of Fosun International’s total revenue. Its other main asset is Club Med. The company is also exploring the possibility of selling a minority stake in the luxury resort chain, Reuters reported last month, sources said.
Other businesses of the Fosun International conglomerate include healthcare, financial services and real estate.