Thomas Cook Group continues to review acquisition opportunities, with the focus on emerging markets and independent travel.

Published: 01 Dec 2009

Thomas Cook Group continues to review acquisition opportunities, with the focus on emerging markets and independent travel.

“In emerging markets, tourism is growing at a faster rate than in our traditional markets. We are particularly encouraged by the opportunities in Russia and China, which are expected to become two of the largest travel markets within the next few years,” stated the company.

“We are looking at limited investment in partnership and joint venture structures in these markets to manage risks, but with an opportunity to take majority or full control over time. In Russia, we seek to establish a strong presence early on and would expect to leverage our destination strengths, particularly in Turkey. However, in China, we believe it is essential to first establish a foothold to gain experience.”

The group will also explore consolidation opportunities in its existing mainstream markets as they arise.

Thomas Cook Group’s strategy remains focused on strengthening its core mainstream business and investing in areas of future growth, primarily independent travel, travel-related financial services and acquisitions, most notably in emerging markets. Mainstream travel represents 74 percent of revenue.

A number of bolt-on acquisitions were completed during the year, notably Gold Medal and Med Hotels in the UK, adding to the independent travel business.