18 Nov 2013 10:35
18 November 2013
Thomas Cook Tours outsource agreement
Thomas Cook Group plc has entered into an operating and brand license agreement with Collette Travel Service, Inc. to outsource its UK's escorted tours business, Thomas Cook Tours, for a minimum period of five years. In 2013, Thomas Cook Tours generated revenues of £10 million.
Thomas Cook's UK tour operator, including the charter programme and its scheduled business, remains unchanged.
Harriet Green, Group Chief Executive Thomas Cook Group plc, said:
"Outsourcing our tours activity to an established specialist like Collette Travel enables us to continue to offer our customers the widest possible range of personalised experiences to meet their needs. The arrangement with Collette Travel Service is consistent with our objective to simplify and focus our business on our core offering".
Notes to Editors
The agreement with Collette Travel commences from today for all tours departing after 1 March 2014. Following this, Collette Travel will operate the business, which will be 'white labelled' and continue to be known as Thomas Cook Tours. Thomas Cook shall continue to market Thomas Cook Tours as part of its 'Signature' offering for the duration of the agreement.
Enquiries
Investors & analysts | |
Geoffrey Pelham-Lane, Thomas Cook Group | +44 (0) 20 7557 6414 |
Media | |
Jenny Peters, Thomas Cook Group | +44 (0) 7568 105144 |
Andrew Lorenz, FTI Consulting | +44 (0) 7775 641807 |
Thomas Cook Group plc
Thomas Cook Group plc is one of the world's leading leisure travel groups with sales of £9.5 billion and 23 million customers in the year ended 30 September 2012. Thomas Cook is supported by c.27,000 employees and operates from 19 countries; it is number one or two in all its core markets. Thomas Cook Group plc's shares are listed on the London Stock Exchange (TCG).