Thomas Cook’s Chinese Owners Re-Launch The Brand As Online Only Travel Operator

After being shut down for about a year, the iconic travel operator Thomas Cook is back but with a different business model.

On Wednesday, the British tour operator re-launched as an online-only venture. One year ago, the company collapsed and left hundreds of thousands of travelers stranded.

According to the analysts, this was a smart step for the company – reinventing itself as a digital only booking platform amid the novel coronavirus pandemic still ravages the global travel and tourism industry.

Currently only “quarantine-free destinations” from the United Kingdom, such as Corfu, Cyprus and Rome, are being served by the company.

The company had collapsed in September last year which resulted in about 600,000 travelers being grounded and loss of thousands of jobs. Selling flights on its own airline, along with selling hotel rooms, from brick-and-mortar physical stores, was the previous business model of the company.  

Fosun Tourism, a Chinese company that also owns Club Med, had acquired the he 179-year-old brand in November last year.

The launch of Thomas Cooks’ online platform in China preceded the brand’s British revival, said Fosun Chairman and CEO Qian Jiannong on Wednesday.

“As one of the world’s leading tourism and leisure groups, the group values Thomas Cook’s 180 years’ heritage and global brand influence,” he said in a statement. “Supporting the growth of the brand in China and its relaunch in the UK is a big step in our plan to turn Thomas Cook into a global success story.”

(Adapted from CNN.com)



Categories: Economy & Finance, HR & Organization, Regulations & Legal, Strategy, Sustainability, Uncategorized

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