A French ski company estimated five to six million skiers in China which is still projected to go higher as the 2022 Winter Olympics approaches.
European ski companies have seen an opportunity for expansion in China where winter sports are gaining popularity as anticipation to the 2022 Winter Olympics to be held in Beijing.
On Thursday, two French firms who headed to China confirmed securing deals with Chinese companies to build ski resorts in the country, Reuters reported.
The Montagne et Neige Development (MND), a French company manufacturing ski-resort equipment, and state-owned China Coal Zhangjiakou Coal Mining Machinery agreed to a joint venture called MND Zhangjiakou Mountain Development which will cover Chinese and Asian markets.
MND Zhangjiakou had already secured a contract with Snowland ski resort in the northwest part of Beijing. The contract to design and build the equipment for the resort is worth $117 million.
Another deal the joint venture had closed was with Wanlong, a resort near Beijing.
The second French ski company that expanded in China was Compagnie des Alpes (CDA), a big firm that runs 11 ski resorts in France and 13 leisure parks in Europe.
According to Mail Online, a spokeswoman from CDA said last year that the company was hoping to close a deal with an investor they were looking for expansion abroad, particularly in China where there is a big market with potential for growth.
An estimate by CDA counted five to six million skiers in China which is still projected to go higher as the 2022 Winter Olympics approaches.
CDA has now secured a partnership with China's Thaiwoo Ski Resort which is, according to First Tracks Online Ski Magazine, one of the sites expected to host the Olympics.
According to Reuters, CDA is set to help almost permanently in the operation of Thaiwoo, being that China has yet to learn the details of managing ski resorts which is an already mature business in Europe.
The construction of Thaiwoo started in April 2014, and it first opened in December 2015. Its development is still continuing and upon finishing it will have 200 ski runs, 45 lifts, hotels and European-style private residences, according to First Tracks.
Thaiwoo is situated in Zhangjiakou City, approximately 200 Km west of Beijing. It is adjacent to the Great Wall in Chongli District.