China’s Fosun to invest RMB 24 bn to build Sanya FOLIDAY Town
On April 13th, 2020, Fosun Tourism Group, the travel business subsidiary of the Shanghai-based conglomerate Fosun International, signed a strategic cooperation agreement with the Sanya Municipal People’s Government in Sanya. Both parties have reached consensuses on Fosun Tourism’s participation in “Sanya Headquarters Economy Construction,” as well as plans for a joint marketing project and other future cooperation.
The details of the agreement include the following:
– Fosun Tourism Group will hold discussions with the Sanya government about setting up regional headquarters for Shanghai Fosun Tourism Management Co., Ltd., and proactively prepare for the establishment of Fosun Tourism’s Sanya office.
– Relying on the advantages of Fosun Tourism Group, joint marketing campaigns will be launched during major festivals to announce the recovery of Sanya’s tourism industry and to welcome tourists from around the world.
– Both parties will jointly explore overseas tourism markets by leveraging Fosun Tourism’s globalization advantage.
Fosun Tourism Group also reached an agreement with the Sanya government on further establishment of “Sanya FOLIDAY Town,” an upgraded version of Atlantis Sanya. Investment in the “Sanya FOLIDAY Town” project will reach about RMB 24 billion. “Sanya FOLIDAY Town” will rely on the existing advantages of Atlantis Sanya’s successful operations in developing a brand-new tourist destination by more diversified means.
As the first tourism destination project of Fosun Tourism Group, Atlantis Sanya has been in the spotlight since it officially opened in April 2018. In 2019, its business volume reached RMB 1.3 billion, and the number of visitor arrivals at Atlantis Sanya reached 5.2 million.
The Atlantis Sanya was awarded the 2019 Luban Award, the highest architectural and engineering prize in China. The project has also become famous for being a popular check-in location in Hainan among online key opinion leaders.