CLUB
Med has announced year-on-year third quarter revenue losses of 64 million
euros.

From
May to July the operator turned over 387 million euros in revenue compared to
451 million euros for the same period in 2002.

The
Paris-based company cited the closure of Club Med World in Montreal in April
this year as one of the main reasons for the reduction in turnover.

Group
revenue for this financial year (from November 2002) is showing a year-on-year
decline of 3.2%. Year-on-year summer sales have also declined by 8.5%.

On
a more positive note, reservation levels for the four weeks from the end of
August to the beginning of September are up almost 11% on last year.