18 August 2016 – hotel sourcing partnership
The company has announced a strategic hotel sourcing partnership with leading online digital travel services provider Webjet Limited. Under this agreement Sunhotels, Webjet’s European online accommodation business, source and contract hotels that account for the majority of Thomas Cook’s complementary business. Sunhotels already has an arrangement with Thomas Cook in its Nordic markets and the new deal will see Thomas Cook transfer around 3,000 hotel contracts to Sunhotels. The partnership will allow Thomas Cook to focus on growing its core differentiated holiday offering while at the same time providing customers with a wider range and choice of complementary hotels in a more efficient way. Sunhotels will also take responsibility for managing an improved health and safety audit process. The shares remain a BUY.