Club Med: Life Is Not A Beach

Earnings are down, and the resort operator may be buyout bait

As the coldest winter in 35 years freezes Europe, Serge Trigano ought to be beaming like tropical sunshine. The record-low temperatures have many Europeans longing for sun, sea, and sand--just the fare that the chairman of Paris-based Club Mediterranee serves up at his 110 resorts in such places as Mexico, Morocco, and Tahiti.

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