Here’s Why Club Med Is Setting Its Sights on China

Luxury resort operator Club Med hopes to move deeper into the China travel market, despite worries about a slowdown in the world's second largest economy. '[China is] transitioning to a more consumer based economy - and tourism and holidays are a part of it,' said Henri Giscard d'Estaing, global CEO of Paris-based Club Med. 'This part of the market is growing double-digits and in our business we're seeing even faster growth.' Club Med recently opened their fourth resort in China and the region is the second biggest market for the company in terms of the number of guests. The doom and gloom headlines about a slowdown in China's economy don't worry d'Estaing. TheStreet's Scott Gamm has details from Wall Street.