Club Med has recorded a net loss for 2001 of £43,5m, reflecting 'a particularly difficult year'.

Forecasting continuing fragility, Philippe Bourguignon, chair of the executive board, said the seriousness of the tourism industry crisis, since 11 September bore consequences for the 2001/2002 winter season, 'because of continued hesitation amongst consumers'. However, Club Med's ski villages' performance is up 13 per cent on December 2000.

Recovery plans include a global advertising campaign, the opening of 3 trident villages in Italy and Brazil and the closure of six 2 Trident villages. Its gym chain Club Gymnase 'will launch a new trend in fitness and urban leisure' later this month.