Thomas Cook Hotel Investments Grows To Nine Properties With Three New Acquisitions

Main Photo: The Casa Cook, Kos

Location: Gran Canaria, Spain and Kos, Greece

Name: Sunwing Arguineguin hotel in Gran Canaria, the Casa Cook Kos and a greenfield plot on Kos, on which the company intends to build a Cook’s Club for next summer (2020).

No. of Keys: 252, 100 and 250

Seller: Sunwing (Gran Canaria), TBA

Buyer: Thomas Cook today 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.

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.

LMEY Investments is a Swiss (headed up by Dutch Hans Kortlevers) investment company established in 2012 with a focus on hotel and leisure properties. At present, they are active with 20 hotels and/or resorts in eleven countries with a total of more than 3,200 hotel rooms, rising to more than 5,000 hotel rooms after completion of their expansion plans. They employ a workforce totalling around 4,000 employees at their hotels.

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.”

Thomas Cook Hotels & Resorts is the hotel division of Thomas Cook Group and has nearly 200 hotels across its eight own brands. With more than 40,000 rooms in 47 destinations around the world, it is one of the world’s top 40 hotel companies.

THPT Comment: Despite headline in the consumer press about Thomas Cook as a whole being under financial pressure, the hotel investment company seems to be forging ahead…well done!

First Seen: Hospitality Net

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