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.
- 1 Katie Hopkins attacked me on Twitter — so I reported her to the police for inciting racial hatred
- 2 Google April Fools': company unveils backwards search engine and huggable digital assistant
- 3 I might be an MP, but that doesn't stop me fighting sexism with my breasts
- 4 April Fools' Day 2015: The best hoax news stories from around the internet
- 5 Gamers confess the worst things they've done in The Sims
Street preacher quoting from the Bible fined for calling homosexuality an 'abomination'
Katie Hopkins attacked me on Twitter — so I reported her to the police for inciting racial hatred
Woman filmed launching racist tirade against men on the Tube for speaking in 'own lingo'
David Cameron calls Labour 'hopeless, sneering socialists' while announcing 7-day NHS plans
Revealed: Putin's army of pro-Kremlin bloggers
Katie Hopkins reported to the police for race hatred by Labour MP Simon Danczuk after tweet about Pakistani men
iJobs Money & Business
£20000 per annum + commission: SThree: Sthree have an exciting opportunity for...
£18000 - £32000 per annum: Recruitment Genius: A Telesales Executive is requir...
£45000 - £50000 per annum + benefits : Ashdown Group: A highly successful, glo...
£50,000 - £55,000: Neil Pavier: Are you a professionally qualified commercial ...