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?
The ability of the "new" Thomas Cook to trade as a purely online business will be improved by not having the added costs of travel retail agencies, maintaining its own airline and operating their own brand of hotels. But will those former customers who booked in the comfort of their local Thomas Cook agency, with the familiar faces of expert travel agents be willing to book online via ThomasCook.com? I hope so, but it's no guarantee. Having a strong offline travel brand doesn't mean they will transfer all of that goodwill (and traffic) to their new travel portal.