Thomas Cook Goes Up Market
The Thomas Cook Group has taken a step up market in its acquisition of luxury tour operator Elegant Resorts this week.Manny Fontenla-Novoa, the chief executive of Thomas Cook, explained that the acquisition will allow the group to "enhance its lucrative position" in the travel market.
He added: "Elegant Resorts has a very strong brand name, associated with luxury, style and bespoke holidays and fully supports our strategic aim to become a leading independent travel provider."
The sum that Thomas Cook paid for the tour operator remains undisclosed, although it has been confirmed that Elegant Resorts will continue to do business under its current name.
In 2007 nearly 19 million people travelled with the Thomas Cook Group, to destinations across Europe and North America.
Furthermore, the tour operator has a fleet of 97 aircraft as well as over 3,000 shops (including those which are franchised) and operates 46 holiday properties, such as hotels and villas.
Elegant Resorts operates holidays to destinations in Africa, the Arabian Gulf, the Indian Ocean and the Caribbean as well as in North America, Asia and Europe.
Travel Industry news posted on 08 April 2008
Destinations:
Balearics |
Canary Islands |
Egypt |
Red Sea |
Greece |
Majorca |
Spain |
Turkey |
Ibiza |
Tenerife
Holiday Hypermarket is a trading name of TUI Travel PLC. Registered office: TUI Travel House, Crawley Business Quarter, Fleming Way, Crawley, West Sussex, RH10 9QL.
Company Number: 6072876
