Club Med Signs Exclusive Partnership Agreement With Paradise Indonesia

Jakarta - A Memorandum of Understanding (MoU) was signed between PT. Indonesian Paradise Property Tbk. (“Paradise Indonesia”) and Vacances (s) Pte. Ltd. (“Club Med”). The signing was made between Mr. Anthony Prabowo Susilo, President Director & CEO of PT Indonesian Paradise Property Tbk, and Ms.Rachael Harding, CEO of East and South Asia & Pacific Markets at Club Med. The signing ceremony was held at Residence OnFive, Grand Hyatt Jakarta, one of Paradise Indonesia’s business units.

According to the MoU, Paradise Indonesia and Club Med are entering into a mutually exclusive partnership for the development of a portfolio of new upscale all-inclusive resorts across Indonesia. Club Med and Paradise Indonesia share a common vision of creating desirable lifestyle holidays that meet the evolving needs of today’s epicurean-savvy travelers in some of the most beautiful, exclusive destinations around the world. With this strategic partnership, the two iconic hospitality leaders aim to pioneer amazing experiences in exotic destinations across Indonesia. To be rolled out across several phases with a development target of more than five new resorts, the first phase consists of three resorts to be developed in the next five years in key tourism destinations, namely North Sulawesi, Bali, and West Java.

With operations in 40 countries around the world and nearly 70 Premium and Exclusive Collection resorts, Club Med, the pioneer of the premium all-inclusive concept with 73 years of experience, offers an extraordinary holiday experience in exceptional locations, including those in the Exclusive Collection, which offers the most prestigious Club Med spaces, resorts, luxury villas, and chalets for an elevated experience, as well as the legendary French sailing yacht, Club Med 2.

For nearly 40 years, Club Med has accompanied Indonesia in its remarkable tourism development. Currently, Club Med operates two resorts in Indonesia; Club Med Bali since 1984, the first resort operator and key tenant to set foot on the Nusa Dua project led by ITDC – formerly BTDC, and Club Med Bintan since 1997.

In the next global business expansion for the years 2023–2025, Club Med will open 17 new resorts including 10 extensions or renovations of existing resorts. Guided by the same pioneering spirit, Club Med remains committed to exploring and discovering exceptional destinations with a responsible vision. As a key strategic pillar of its brand values, ‘Happy To Care’ is top of mind for Club Med. This encompasses environmental stewardship – the respect of and commitment to protect the pristine natural environments Club Med resorts reside in; creating a positive and long-lasting impact in local communities through supporting social and economic development opportunities, and providing guests with meaningful and sustainable vacation experiences.

With its unique approach to lifestyle hospitality, Club Med has seen strong business growth that has exceeded 2019 levels, indicating that travelers, more than ever, are looking for and are attracted to the upscale, convivial, all-inclusive experience that Club Med resorts offer both domestically as well as globally.

Paradise Indonesia has 30 years of experience developing and creating iconic lifestyle destinations in Indonesia’s largest cities. With 25 business units across 8 cities, the company is a symbol of innovation, professionalism, and excellence. From developing standalone hotels to high-end retail complexes, and most recently high-rise residential apartments. Paradise Indonesia’s journey reflects its pioneering spirit and commitment to long-term value creation. A testament of this success is the company’s remarkable 100% completion rate across all developments. With this latest milestone, Paradise Indonesia now looks ahead to continue its exciting trajectory of growth in the years to come.

This partnership underscores the commitment of both parties to support the Indonesian government’s tourism goals and agenda to attract domestic and international tourists, to raise the Travel and Tourism Index rank nationally. Each location where the development takes place will have a positive impact on the community and the surrounding environment, such as the creation of direct and indirect job positions, the development of local talents within the hospitality industry with opportunities for overseas job postings, knowledge exchange of the culinary industry, opening distribution channels supplying raw materials, and many others. This will certainly improve social welfare, the tourism industry, and the sectoral creative economy.

We are thrilled to announce our strategic partnership with Club Med. This joint venture aims to unveil a series of developments that will not only foster mutual growth for both companies but also bring about substantial benefits to the local communities and areas in which we build. Our united vision is to cultivate sustainable and enriching experiences for all. Anthony Prabowo Susilo, President Director & CEO of Paradise Indonesia

For nearly 40 years since the first Club Med Resort opening in Bali, Club Med has established a harmonious and well-integrated presence to support the remarkable tourism development in Indonesia. Indonesia continues to be a key focus for Club Med, which is projected to be among the fastest-growing markets by 2030. Pre-pandemic, we saw incredible growth of Indonesian client numbers and today we see a steady recovery. This shows a strong and accelerating demand for Club Med All-Inclusive Resorts as well as a growing appetite for vacations overseas, including to our resorts in Europe and Americas. This strategic partnership with Paradise Indonesia brings together brand synergies, expertise and innovation of both organizations, and aligns perfectly with our mission to continue delivering exceptional experiences for our customers, while continuing to accelerate our international reach to the beautiful destinations of Indonesia. Henri Giscard d’Estaing, President of Club Med

Our strategic partnership with Paradise Indonesia marks a significant milestone in our development strategy for Indonesia. We are excited to have found a solid partner who fully supports and appreciates Club Med’s upscale strategy and identity. We are confident that this partnership will create incremental value for all our stakeholders and accelerate our commitment to further establish Club Med as the world leader in all-inclusive and experiential premium holidays in stunning locations. Rachael Harding, CEO for East and South Asia & Pacific Markets of Club Med

About PT Indonesian Paradise Property Tbk ("Paradise Indonesia")

PT Indonesian Paradise Property Tbk ("INPP'') is a developer and operator of iconic lifestyle properties in several top locations across Indonesia. PT Indonesian Paradise Property Tbk along with its subsidiaries, owns and manages a diverse portfolio of hotels, shopping centers, and apartments that synergize to create a sustainable business model. INPP owns 13 hotels in Jakarta, Bali, Batam, and Yogyakarta, and operates 6 shopping centers in Jakarta, Bandung, and Bali. In line with the company’s vision to build iconic property projects, INPP continues to create mixed-use property developments. INPP is currently developing four projects with 31 Sudirman Suites Apartment and Hyatt Place in Makassar; Antasari Place Apartment in South Jakarta; 23 Paskal Shopping Center extension in Bandung; and a flagship mixed-use development in Semarang.

We develop and create Iconic Lifestyle Destinations in Indonesia’s greatest cities.

For more information, visit us at www.paradiseindonesia.com or follow @paradiseindonesia23 on Instagram and @inppgroup on Facebook.

About Club Med

Club Med, founded in 1950 by Gérard Blitz, invented the all-inclusive holiday club concept, adding in activities especially for children with the creation of the Mini Club in 1967. Led by its pioneering spirit, Club Med seeks out exceptional destinations and sites. Today, Club Med is the world's leading provider of upscale, all-inclusive holiday packages with a French touch for families and active couples. Club Med operates nearly 70 resorts, of which 95% are rated Premium & Exclusive Collection that offers a selection of the brand's most exclusive resorts, villas, chalets, and yacht characterised by premium accommodations, exceptional hospitality and personalized services, exclusively beautiful locations, refined dining concepts and lounges, transformational experiences, and unique architecture and design elements. Present in 30 countries around the world, the Group employs more than 23,000 Gentils Organisateurs (GOs) and Gentils Employés (GEs), representing 110 nationalities.

For more information, visit www.clubmed.us, call 1-800-Club-Med (1-800-258-2633), or contact a preferred travel professional. For an inside look at Club Med, follow Club Med on Facebook, Twitter, Instagram, and YouTube.