ITB 2019 Special Reporting
Thomas Cook Hotel Investments grows to nine properties with three new acquisitions
Tuesday, 21st May 2019
Source : Thomas Cook

Thomas Cook announces that its hotel fund, Thomas Cook Hotel Investments (TCHI), has acquired a further three properties, including one of the company’s flagship hotels, Casa Cook Kos, The acquisitions mean that the fund now has nearly doubled its portfolio in just over a year, to nine locations.

The properties are the 252-room Sunwing Arguineguin hotel in Gran Canaria, the 100-room Casa Cook Kos, which is Thomas Cook’s highest-performing own-brand hotel based on customer feedback, and a greenfield plot on Kos, on which the company intends to build a 250-room Cook’s Club for next summer.

TCHI was launched in March 2018 with five hotels, as a joint venture with hotel development company, LMEY and has previously agreed to acquire a 300-room hotel in the Balearics. The new additions take the total fund to 2,500 rooms including those under development.

Casa Cook Kos

A pipeline of further hotel acquisitions has been identified in line with the intention for the fund to comprise 10-15 hotels by 2021.

TCHI will this summer open its first new build project Casa Cook in Ibiza and has secured two rounds of funding totalling €91 million. The fund has been set up to help Thomas Cook accelerate its ambition of managing more of its own-brand hotels and is focused on investing in opportunities in Greece, Spain and around the Mediterranean.

Enric Noguer, Chief of Thomas Cook Hotels & Resorts said, “Casa Cook Kos is a stunning property that we know our customers love, and bringing it into the fund is a huge step forward.

“The speed with which we have been able to acquire these hotels is clear evidence of our intent to grow rapidly the fund’s portfolio. It also shows the flexibility of our eight hotel brands, allowing us to consider properties of varying shapes and sizes to create a hotel our customers will love.”

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