Thomas Cook India expands by adding 34 new locations
25 Oct 2013
Thomas Cook (India) Ltd, India's leading integrated travel and travel-related financial services company, has added 34 new locations across India, including 12 owned offices, 22 Gold Circle Partner (franchise) outlets, and an additional location each in Mauritius, Sri Lanka and Nepal.
In addition to its presence in metro cities such as Mumbai, Delhi, Pune and Kolkata, Thomas Cook India's has forayed into new and rapidly emerging Tier II and III regional markets like Thrissur, Erode, Tumkur, Bhilwara and Dhanbad.
The launch of mall outlets at Kochi's LuLu Mall and OSIA Mall in Goa, offers the Mumbai-based company strategic access to high potential retail catchment areas.
Thomas Cook India, the country's oldest and largest travel and travel related financial services company, offers a broad spectrum of services that include holidays, hotels, tickets, visa, foreign exchange, corporate travel, leisure travel, and insurance.
Commenting on the expansion, Madhavan Menon, managing director, Thomas Cook India said, ''At Thomas Cook India, our customers have always been the focus of our initiatives, and the intent behind our expansion strategy was to reach out to not just our metro audiences, but also our rapidly growing
''I am delighted with this achievement of an extensive network, offering our travel hungry customers enhanced access and convenience, and timed perfectly for our newly launched holiday packages for Summer 2014,'' he added.
Thomas Cook India was acquired last year by Canada's Fairfax Financial Holdings Ltd, a property and casualty insurer run by Prem Watsa, from its debt-ridden UK parent, for about Rs817.4 crore. (See: Prem Watsa's Fairfax Financial to buy Thomas Cook India for Rs817.4 crore)
Fairfax is led by Hyderabad-born chairman and CEO Prem Watsa, , has often been called the Warren Buffet of Canada for his skill in value-oriented investing strategies.
Watsa, who controls nearly half of Fairfax, did chemical engineering from the Indian Institute of Technology Madras in 1971-1972, moved to Canada in late 1972 and got a masters degree in business administration from the University of Western Ontario.
He is director and member of risk committee at ICICI Bank Ltd and ICICI Lombard, a 74: 26 per cent joint venture between ICICI Bank Limited and Fairfax Financial.
Fairfax has now tabled a $4.7 billion bid for Canada's iconic smartphone maker Blackberry. (See: Blackberry receives $4.7-bn buyout offer from Prem Watsa's Fairfax Financial)
Fairfax reported 2012 revenues of $6.5 billion and market cap of $9.7 billion, Fairfax has recorded compounded growth rate of approximately 26 per cent in book value per share for over the last 22 years until fiscal year 2007.
