Thomas Cook to grow own-branded hotel portfolio
London/Frankfurt – 26 September 2017 –
Tour operator Thomas Cook has formed a strategic partnership with LMEY Investments to grow its own-brand hotel portfolio.
As part of the deal, Thomas Cook acquired a 42 percent stake in Aldiana, a German tour operator and hotel management firm, from the Swiss-based hotel development company, Reuters reported.
Thomas Cook chief executive Peter Fankhauser said the acquisition was a significant step in the firm’s strategy to expand its range of own-brand hotels. “The development of a strong portfolio of own-brand hotels is absolutely key to our success,”] Fankhauser said.
“Our new strategic partnership with LMEY, with its proven track record of identifying and redeveloping highly successful properties in sun and beach locations, gives us the perfect launch pad to accelerate this critical part of our strategy.”
Thomas Cook operates or franchises over 180 hotels in 17 countries, with 11 new hotels added this summer.
Rival TUI is also investing more into its own hotel portfolio, including setting up its own brand TUI Blue.
The partnership follows an alliance with Expedia to make the online travel company its preferred provider of hotels for holiday sales that are not in Thomas Cook’s own-brand offering.