Thomas Cook to sell hotel-golf unit to Iberostar | marketwatch.com

Thomas Cook Group PLC , the travel group, Tuesday said it has reached agreement to sell its interest in Hoteles Y Clubs De Vacaciones, a hotels and golf club group, to IBEROSTAR Hoteles y Apartamentos S.L. (IBS), the hotel division of Grupo IBEROSTAR, for EUR72.2 million in cash. Thomas Cook will continue to benefit from access to HCV's hotel portfolio through a separate commercial arrangement that has been agreed with IBS.