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What is the 'New' Thomas Cook

Explainer by Max Starkov

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Last updated on 28 September 2020Comments

The 'old' Thomas Cook Group PLC was a British global travel group, founded in 1841. The group was the second largest vertically-integrated tour operator in the world after TUI. The group operated in three separate segments: a tour operator, an airline and a travel agency network.

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The Thomas Cook Group ceased trading on 23 September 2019, leaving 21,000 employees without jobs and leaving 600,000 travelers stranded abroad, triggering the UK's largest peacetime repatriation.

In 2019 The Fosun Tourism Group, a Chinese travel conglomerate listed on the Hong Kong Exchange ($1.2 billion market cap), bought the rights to the brand of the bankrupt Thomas Cook for $14 million. The Fosun Group are the owners of the famed Club Med and develop and manage resorts and casinos worldwide.

A year later, Fosun has resurrected the 'new' Thomas Cook brand as an online travel agency thomascook.com, selling directly to the public packaged beach holidays to destinations like Spain, Turkey, Greece, Croatia, USA, etc. and city breaks in Rome, Paris, Madrid, New York, etc.

Currently, the "new" Thomas Cook website has approximately 160,000 unique visitors per month, which is a very tiny traffic compared to TripAdvisor's more than 450 million unique visitors per month or Booking.com's 420 million.

Related Viewpoint

Is there future for the “new” Thomas Cook?

The "old" Thomas Cook, a 179-year-old company and the second largest tour operator in the world after TUI, collapsed in September of 2019. Fosun Tourism Group, a Chinese travel conglomerate that already owned the famed Club Med, bought the rights to the bankrupt company's brand for $14 million.
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