Thomas Cook Hotel Investments Grows To Nine Properties With Three New Acquisitions
Thomas Cook today announces that its hotel fund, Thomas Cook Hotel Investments (TCHI), has acquired a further three properties, including one of the company's flagship hotels, Casa Cook Kos. The acquisitions mean that the fund now has nearly doubled its portfolio in just over a year, to nine locations.
TCHI was launched in March 2018 with five hotels, as a joint venture with hotel development company, LMEY and has previously agreed to acquire a 300-room hotel in the Balearics. The new additions take the total fund to 2,500 rooms including those under development.
A pipeline of further hotel acquisitions has been identified in line with the intention for the fund to comprise 10-15 hotels by 2021.
TCHI will this summer open its first new build project Casa Cook in Ibiza and has secured two rounds of funding totalling €91 million. The fund has been set up to help Thomas Cook accelerate its ambition of managing more of its own-brand hotels and is focused on investing in opportunities in Greece, Spain and around the Mediterranean.
Enric Noguer, Chief of Thomas Cook Hotels & Resorts said, "Casa Cook Kos is a stunning property that we know our customers love, and bringing it into the fund is a huge step forward.
"The speed with which we have been able to acquire these hotels is clear evidence of our intent to grow rapidly the fund's portfolio. It also shows the flexibility of our eight hotel brands, allowing us to consider properties of varying shapes and sizes to create a hotel our customers will love."
About Thomas Cook Hotels & Resorts
Thomas Cook Hotels & Resorts is the hotel division of Thomas Cook Group and has nearly 200 hotels across its eight own brands. With more than 40,000 rooms in 47 destinations around the world, it is one of the world's top 40 hotel companies.
About Thomas Cook Group Plc.
Thomas Cook Group plc. is one of the world's leading leisure travel groups, with sales of £9.6 billion in the year ended 30 September 2018. It is supported by 21,000 employees and has 200 own-brand hotels. It operates from 16 source markets and serves over 22 million customers annually. Thomas Cook Group plc's shares are listed on the London Stock Exchange (TCG).