Thomas Cook pays £22m for Hotels4U
Friday 15 February 2008
Thomas Cook has snapped up hotel booking website Hotels4U.com for £21.8m.
Hotels4U's managing director Haim Perry, who founded the company in 2003, will stay on after agreeing to reinvest some of the sale proceeds.
Hotels4U.com supplies accommodation to the British travel industry and acts as an online booking agent for hotels, apartments and villas. "As a business we now have access to the international markets that Thomas Cook is present in, and therefore the opportunity for further growth," Mr Perry said.
The news came as Thomas Cook reported encouraging levels of demand, with no signs that that consumers were cutting back on foreign trips. Despite the economic downturn, the tour operator said European holidaymakers continued to place a high priority on overseas travel.
Thomas Cook, which merged with MyTravel last year, said cost savings from the deal and improved margins meant its operating losses for the two months to the end of December fell by 27 per cent to €106.8m (£79.4m). The enlarged company has closed 144 shops in the UK, leaving an estate of 812 – mostly Thomas Cook – stores. The company has established its UK headquarters in Peterborough after a number of regional offices were closed.
- 4 Women think Irish men are the sexiest, survey finds
- 5 Florida couple forced to register as sex offenders for having sex on public beach
Italian police 'reveal' what Jesus looked like as a young boy
Who should I vote for in the general election? Take The Independent's interactive quiz to find out which party is the right choice for you
Florida couple forced to register as sex offenders for having sex on public beach
Mysterious 'X-Files' sounds heard miles above the Earth
US gameshow gives woman in wheelchair incredibly awkward prize
In defence of liberal democracy
General Election 2015: Post-election 'shambles' looms as 70 per cent of voters say SNP 'should not be able to veto UK government policies'
The Rothschild Libel: Why has it taken 200 years for an anti-Semitic slur that emerged from the Battle of Waterloo to be dismissed?
General Election 2015: UK will be 'run for the wealthy and powerful' if Tories retain power, Labour warns
General election live: SNP suspends two members for disrupting Labour rally
Schools forced to act as 'miniature welfare states' with teachers buying underwear and even haircuts for poor pupils
iJobs Money & Business
£60000 - £70000 per annum + benefits : Ashdown Group: A highly successful, glo...
£25000 - £30000 per annum + benefits: Ashdown Group: A global leader operating...
£27 - 35k + Bonus + Benefits: Guru Careers: A Management Accountant is needed ...
£40-50k + Benefits.: Guru Careers: A Project Manager / Business Analyst is nee...