Share Name Share Symbol Market Type Share ISIN Share Description
Thomas Cook LSE:TCG London Ordinary Share GB00B1VYCH82 ORD EUR0.01
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -1.00p -0.83% 119.90p 119.80p 120.00p 121.00p 119.20p 120.70p 1,275,939 11:36:42
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Travel & Leisure 7,812.0 42.0 0.8 149.9 1,753.80

Thomas Cook Group PLC Thomas Cook & Expedia announce strategic alliance

14/09/2017 7:00am

UK Regulatory (RNS & others)


Thomas Cook (LSE:TCG)
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RNS Number : 6857Q

Thomas Cook Group PLC

14 September 2017

Thomas Cook announces strategic alliance with Expedia, Inc.

14 September, 2017: Thomas Cook, one of Europe's leading holiday companies, today announces it has entered into a strategic alliance with Expedia, Inc., one of the world's leading travel companies. Under the terms of the agreement, Expedia will become the preferred provider of hotels for Thomas Cook's complementary(1) city and domestic holiday business and will provide its booking platform to support all city break and hotel-only sales across Thomas Cook distribution channels in Europe.

The multi-year agreement will provide Thomas Cook customers with over 60,000 more hotels in global city and European domestic locations than currently on offer, all of which will meet Thomas Cook's standards for quality and value, as well as health and safety. The agreement will also enable Thomas Cook to significantly reduce the cost and complexity of its city breaks and hotel-only business.

Expedia will use its market-leading technology to deliver bookings for city and domestic hotels, either on their own or as part of a city break dynamic package, through Thomas Cook's primary websites, contact centres, stores and distribution to affiliated travel agents.

Additionally, the agreement gives Thomas Cook the option to offer its core sun and beach package holidays on Expedia sites globally, broadening its distribution reach.

Thomas Cook Chief Executive, Peter Fankhauser, said: "The combination of Expedia's portfolio of hotels and best-in-class online technology will transform Thomas Cook's city breaks and hotel-only offer for customers while helping the business take an important step forward in delivering our strategy for profitable growth. Joining forces with a company that has the global reach and expertise of Expedia will allow Thomas Cook to further simplify our systems and processes. At the same time, this will free us up to focus on holidays to our own-brand and selected partner hotels in sun & beach locations where we know we can really make a difference to customers. I am confident this marks the first step in a long-term and mutually beneficial relationship with Expedia."

Expedia Brand President, Aman Bhutani, said: "We've always had profound respect for the Thomas Cook brand and we believe that our coming together will enhance our abilities to help more people to get out and see the world, while enhancing each of our competitive positions in the European market. Expedia's Global Partner Solutions business brings to life the ability to leverage the strength of our technology and operations for our partners, powering leading brands with private label booking engines, agent tools, web services and operations for all travel products, including lodging, flight, package, and car rental."

This new deal with Expedia is a major step forward in Thomas Cook's Group-wide transformation programme and follows the announcement in August 2016 of a hotel sourcing deal with Webjet Limited, covering the bulk of Thomas Cook's complementary sun & beach hotel offering.

By completing this second stage in the reorganisation of its complementary hotels business, Thomas Cook will be able to focus on strengthening its core sun & beach holiday offering, while at the same time providing customers with a wider selection of hotels as well as an improved booking experience. The agreement with Expedia will also help to reduce the complexity of Thomas Cook's business, acting as a catalyst to significantly simplify and streamline operations across its 16 source markets.

This announcement contains inside information.

The person responsible for arranging the release of this announcement is Alice Marsden, Group General Counsel and Company Secretary

_______________ (1) Thomas Cook's holiday offering is focused on its own-brand hotels, and a closely-managed portfolio of selected partner hotels, chosen on the basis of quality and high standards of service. This differentiated offering is supplemented with a wide range of complementary hotels that give customers greater choice and flexibility when choosing their holiday.

Analyst & Investor Conference Call

A conference call for investors and analysts will be held today at 08.30 (BST). The access details are as follows:

United Kingdom: 0808 109 0700

All other locations: +44 (0) 20 3003 2666

Call Password: Thomas Cook Investor Call

Enquiries

 
 Analysts &    James Sandford, Thomas    +44 (0) 20 7557 
  Investors     Cook Group                6433 
  Tej Randhawa, Thomas                   +44 (0) 20 7557 
   Cook Group                             6487 
               Matthew Magee, Thomas     +44 (0) 20 7294 
 Media          Cook Group                7059 
 
 
   -   ENDS - 
 
 About Thomas Cook Group Plc. 
  Thomas Cook Group plc. is one of the world's leading 
  leisure travel groups with sales of GBP7.8 billion. 
  Thomas Cook is supported by 22,000 employees and 
  operates from 16 source markets, serving over 19 
  million customers annually. Thomas Cook Group plc's 
  shares are listed on the London Stock Exchange 
  (TCG). 
 

This information is provided by RNS

The company news service from the London Stock Exchange

END

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September 14, 2017 02:00 ET (06:00 GMT)

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