The Thai owned Kiroro Ski Resort and hotel business in Hokkaido has reportedly sold for 15 billion yen (AUD$185million) to a company called GMK Kiroro Management Company, part of the Fosun Group (Shanghai) that has a 90 percent stake in Club Med.
The new owners purchased the ski resort plus two hotels (Sheraton and Kiroro Tribute), while the previous owner, Property Perfect, retains ownership of Yu Kiroro condominiums.
The Thai Stock Exchange was alerted of the deal on November 22.
Rumours of a Vail Resorts purchase of Kiroro had swirled in recent years, however they never eventuated and talk has now turned to a potential Club Med makeover, so watch this space.
Club Med already has all inclusive ski property holidays in both Tomamu and Sahoro in Hokkaido as well as Europe, Canada, China and soon to be back in the USA.
Fuson International is led by China billionaire Guo Guangchang and clinched control of the former French company, Club Med, in 2015 after a two year battle.