Compagnie des Alpes Posts Record Profits
17th December 2018
Category : News
The Compagnie des Alpes group which operates 11 of France’s leading ski areas including Chamonix Mont Blanc, Tignes, Les 2 Alpes, Serre Chevalier, Les Arcs, La Plagne, Flaine, Meribel, Les Menuires, Peisey Vallandry and Val d’Isere, along with 13 theme parks, has posted a record net profit of 57.2 million euros, leading to a 5.6 percent jump in its share price this week.
The company has been embroiled in controversy for several years over talk of a major investment and possible take over by the giant Chinese corporation, Fosun. This led to regional tourist groups and officials voicing their concerns about areas of France being controlled by a foreign company. Other iconic French companies like Club Med, and soon Salomon, are now Chinese owned, the former by Fosun.
However The Compagnie des Alpes chief executive Dominique Marcel told reporters this week that for the time being the business would work as ‘partners’ with Fosun in China although he did not rule out Chinese investment in his company, “Maybe one day.”
The two companies are working together on a new indoor snow centre in Shanghai.
Currently the French state-owned Caisse des Depots is Compagnie des Alpes’ main shareholder with 39.5 percent of the company.