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Club Med Buys Crested Butte Marriott

CORAL GABLES, Fla., April 10 — Club Med announced that it has completed the acquisition of the Crested Butte Marriott Resort in Mt. Crested Butte, Colorado, formerly owned by Crested Butte Mountain Resort (CBMR). The announcement was made by Bob Blumberg, Vice President, Sales and Marketing for Club Med, U.S.

Club Med Crested Butte will open in November 2000 after a series of renovations to convert the resort into a traditional Club Med family ski village. The property will be closed for the renovation process.

Ranked among the top 15 North American winter resorts by Conde Nast Traveler Magazine for the past two years and the host for ESPN’s Winter X Games, Crested Butte is an ideal village for Club Med, catering to all levels of skiers. Extreme skiers and snowboarders as well as beginners will find plenty of slopes at the new ski-in, ski-out Club Med village.

Winter sports are popular at Club Med, which has 23 ski villages in the French and Italian Alps, as well as Sahoro, Japan. Known for its beautiful beaches and sun destinations worldwide, Club Med is expanding its winter sports offerings with the acquisition of Crested Butte. Other new locations and new products are currently under development at Club Med.

The Crested Butte village will be marketed under Club Med’s 3-Trident, Family village segmentation offering specially supervised day and evening sports and activities, ski classes, for youngsters 4-12. Adults, too, can take advantage of daily ski classes (Monday through Saturday) with instruction for all levels and a host of other activities. Accommodations, daily morning or afternoon ski and snowboarding classes, lift tickets, all meals, nightly entertainment, kids’ participation in Mini Club Med activities and more are included in Club Med’s all-inclusive ski package.

Crested Butte is Club Med’s second Colorado ski village. Club Med Copper Mountain, a Family ski village, opened in Colorado in 1981. Club Med’s third U.S. Family village, Sandpiper, is in Port St. Lucie, Florida.

Club Mediterranee is a global tourism group with a presence in 40 countries. Club Mediterranee originally introduced the concept of all- inclusive vacations, and is today the world leader, with 150 leisure operations (114 of which are Club Med Villages), hosting approximately 2 million guests annually. Out of that number, 1,570,000 are GMs (Gracious Members).

Club Mediterranee has annual sales of *1.5 billion euros (*approx. US$ 1.5 billion) and employs 23,000 people, 10,000 of whom are GOs (Gracious Organizers, Club Med staff).

Club Mediterranee, has been known up to this point as a resort developer and operator. Today, it is becoming a full-service leisure travel and recreation organization. The company continues to develop new villages and activities under the Club Med brand. However, with the rapid consolidation worldwide in tourism and travel, Club Mediterranee is also developing additional activities under other brands country by country.

The creation of Club Med Online, an Internet portal, will enable the Group to develop online sales and to link all of its Internet sites worldwide. Club Mediterranee currently operates under the following brands: Club Med, Club Med World, Club Med Cruises, Club Med Business, Club Med Discovery, Club Med Voyages, Jet Tours, Jumbo, Forum, Eldorador.

Club Mediterranee’s stock is traded on the Paris Bourse. The principal shareholders are Ifil/Exor, CDC, Rolaco, Nippon Life and Amex.