Thomas Cook India is on an acquisition spree, buying a large share of Kuoni’s business from its new owner, EQT. This will bring under its umbrella the destination management company network comprising of AlliedTPro US, Asian Trails, Australian Tours Management, Desert Adventures/Gulf Dunes Middle East and Private Safaris Africa. All of these will wear the Thomas Cook India colours but will continue to be spearheaded by the current team which has led the respective businesses to great heights.
Asian Trails operates in eight countries in Asia and has 33 offices. Thomas Cook India had acquired the Kuoni businesses in India, such as the outbound travel brand 59-year old SOTC and the 55-year old SITA, one of the oldest DMCs in the country under whom SOTC operates, as well as Kuoni Hong Kong, before the Kuoni completely sold itself to EQT.
Laurent Kuenzle, ceo of Asian Trails, said: “Thomas Group India believes the original managers of a company are the key drivers to its success and they are buying this entrepreneurial spirit in the management team that leads the company and they are interested in the synergies that are available. It’s a change in ownership, but nothing changes except a new growth trajectory.”
Thomas Cook India’s acquisitions have always focused on keeping the management teams of the units it buys in place to ensure continuity and maintenance of management styles. EQT, which is also selling GTA to Hotelbeds, is left with the much coveted and very profitable VFS Global, visa and passport facilitation services.