The all-inclusive specialist doubled turnover last year compared with 2021 to €1.7 billion and made a pre-tax profit of €309 million.

It said the result stemmed “from a mass return to global travel, with resort capacity increasing by 62% last year compared to 2021 - overall recovering to 92% of the 2019 level”.

Customer numbers, at 1.3 million, recovered to 88% of 2019, an increase of 64% compared to 2021. Debt reduced to €308 million compared to €490 million at the end of 2021.

Club Med president Henri Giscard d’Estaing said: “Following the rebound in the second half of 2021, our 2022 results show a strong recovery and acceleration for Club Med in Europe and the Americas.

"The remaining travel restrictions in Asia and Covid-19 resurgence in China have still impacted our business, but Club Med managed it globally. Our business volume doubled compared to last year and reached pre-pandemic levels.” 

Club Med has been upgrading its properties, with premium share of total capacity now reaching 95%.

The operator said business volume for January and February had reached their respective highest monthly levels “compared to recent years”. 

“This is further backed up by departures scheduled for the first half of 2023 being up by 36% compared to the same period last year. For the second half of the year, bookings are also up by 23% compared to the same six months in 2022.”

Last year saw Club Med open seven resorts, including three in China and another in Val d’Isere, its first Exclusive Collection mountain resort in France. Another 17 new openings are scheduled by 2025.