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Thomas Cook opens new hotel as it reassures customers over finances

Thomas Cook opens new hotel as it reassures customers over finances

Tuesday 21 May 2019

Thomas Cook opens new hotel as it reassures customers over finances


Embattled travel group Thomas Cook will open a new boutique hotel this week as it seeks to reassure customers over its finances.

Chief executive Peter Fankhauser declared that the company is focused on “giving customers a great holiday” amid a further fall in its share price.

The latest Casa Cook hotel opens in Chania on the Greek island of Crete on Saturday.

The firm said it has sold 70% of available rooms for this summer at the property, which is one of 20 own-brand hotels it is opening this year.

Later this summer, the Casa Cook brand will expand to Ibiza, Spain, and El Gouna in Egypt.

Thomas Cook has struggled recently, as a fall in demand for package holidays and intense online competition resulted in a string of profit warnings.

A £1.5 billion pre-tax half-year loss was announced on Friday.

Inside the Casa Cook hotel
Inside the Casa Cook hotel in Chania on the Greek island of Crete (Thomas Cook/PA)

Shares plunged another 13% on Monday and it has seen its stock market value more than halve over the past week, with the stock down 55%.

Some holidaymakers are contacting the firm via social media to ask if their bookings will be affected by its financial woes.

The company is assuring customers that their holidays will go ahead and insisting “we’re not going bust or into administration”.

Mr Fankhauser said: “It may be a tough environment for holiday companies but it’s a paradise for customers who can get really great value offers for this summer.

“My focus is giving customers a great holiday this summer, and our new Crete Casa Cook is just one of 20 hotels we’re opening this year to help us do just that.”

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