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Cook suitors ‘eye the best holiday brand in world’
Lucy Huxley
lucy.huxley@
travelweekly.co.uk
Speculation that a range of firms could be lining up bids for parts or all of Thomas Cook should not come as a surprise as it remains the “best holiday brand” in the world, according to a leading City analyst.
Reports in the consumer media
at the weekend suggested interest from Fosun International, which runs a joint venture with Cook and owns Club Med, as well as from private equity firms including Kuoni Group owner EQT and KKR, which owns Travelopia. Cook declined to comment on
the reports, but travel industry expert Andrew Monk, chief executive of VSA Capital, said the business represented an attractive proposition. “Thomas Cook is still the best
holiday brand in the industry globally,” he said. “There is a lot of value in that brand. It’s a
pan-European business, with a good airline and good slots, and that offers a lot of value to people.” Monk said a potential sale of Thomas Cook Airlines, as a result of a strategic review it announced in February, would have attracted investors, some of which might now consider “buying the whole damn thing and having a tour operator to help fill the airline seats”. Cook’s share price rose from 24.5p on Thursday to 29p on Tuesday morning, following the reports. However, this remained significantly lower than its price above 140p in May 2018, before it posted two profit warnings and reported a pre-tax loss of £163 million compared with a £9 million profit the previous year. Monk said he believed firms including Cook and rivals Tui and Jet2holidays could benefit from an increase in consumer confidence following the Brexit delay, although there is no data to suggest a so-called “Brexit bounce” has translated into bookings so far.
Experts to speak at TW retail event
Robin Searle
robin.searle@
travelweekly.co.uk
The president of US homework- ing agency InteleTravel will address the UK travel industry for the first time, alongside panellists from The Midcounties Co‑operative, Google, Olympic Holidays and Culture Trip, at a special Travel Weekly event on the Future of Travel Selling.
The event will be held at
Google’s offices in central London on May 9 and will be an extended addition to Travel Weekly’s successful Business Breakfast series. It is part of a year-long calendar of activity to celebrate Travel Weekly’s 50th anniversary and its 10th year as an independent business. Confirmed speakers include
Investors interested in Thomas Cook Airlines may now consider ‘buying the whole damn thing’
James Ferrara, president of InteleTravel; Alistair Rowland, Abta board member and chief retail officer for specialist business at The Midcounties Co-operative; Clare Tobin, chief executive of Olympic Holidays; and Andy Washington, senior vice-president for travel at Culture Trip. Guests will also hear from
Ruairidh Roberts, senior industry head at Google, who will present exclusive research on shifts in travel consumer habits, as well as from Travel Weekly managing director Stuart Parish and editor- in-chief Lucy Huxley. Huxley said: “The changing face
of travel retail has been something that Travel Weekly has reported
on since it was first published as Travel News in 1969. “Over the past 50 years, we have
reported on the growth of the web and social media, debates over the merits of direct and third-party sales and service, and the rise of models ranging from home-based agents to affiliates and influencers.” She added: “The future of
travel selling has been a topic of fierce debate in recent weeks, with referral models, ‘unbonded’ agents and InteleTravel’s Abta membership featuring on our front page. As we celebrate our 50th anniversary, we are delighted that Travel Weekly continues to
lead the conversation.” › Limited places are available for Travel Weekly’s Future of Travel Selling event. To register your interest in attending, visit:
tinyurl.com/travelweeklyfuture
25 April 2019
travelweekly.co.uk 5 3 STORIES HOT
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