Is there future for the “new” Thomas Cook?
— 9 experts shared their view
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.
Now, a year later Fosun has resurrected the Thomas Cook brand as an online travel agency thomascook.com, selling directly to the public packaged beach holidays in destinations like Spain, Turkey, Greece, Croatia, USA, etc. and city breaks in Rome, Paris, Madrid, New York, etc.
The question is: Is there future for the "new" Thomas Cook?
Professor of Strategy at University of South Australia Business School
Given the scale and market presence of the existing global OTA duopoly, there are precious few contenders that would dare to challenge them.
However Fosum, with its deep pockets, outstanding e-commerce experience and deep vertical integration into the travel sector, could be just the company to challenge the status-quo.
By leveraging Thomas Cook's incredible brand recognition, and strategically positioning itself as meaningfully different to the existing online players, it has the potential to define its own space in the online marketplace.
Note the time and the date - we could be witnessing the (re)birth of the third major online global travel brand.