Tag Archives: TCI

The Board of Thomas Cook (India) (TCIL) has approved (subject to regulatory approvals) a corporate restructuring exercise aimed at streamlining its businesses into four key verticals namely, Travel (outbound, domestic, business travel & MiCE), Foreign Exchange, Destination Management Services and Portfolio Investments such as Sterling Holiday Resorts. In its current structure, TCIL along with its subsidiaries and associate companies such as SOTC, TCI, TC Travel (earlier Tata Capital Travel) and Sterling Holidays are engaged in various travel and travel-related financial services, vacation ownership and resorts while Quess Corp is engaged in human resource and business related services such as industrial asset management, integrated facility management, and technology solutions. In order to streamline the various businesses of the group, both from operating and management perspective, the restructuring will consolidate like businesses into identified entities creating a simpler and more efficient operating structure with dedicated and focused business verticals. Madhavan Menon, Chairman & Managing Director, TCIL said, “This proposed restructuring with the realignment of the travel businesses of TCIL and consolidation of the  human resource services business into Quess Corp, will simplify the group’s structure, enabling both TCIL and Quess to grow independently and consolidate their positions in their segments with far greater clarity of focus from an industry and growth/opportunity point of view – for investors, management and teams.”  

The Thomas Cook India (TCI) Group has announced the completion of the acquisition of a significant part of Kuoni’s global DMS network. As a part of this acquisition, the Thomas Cook India Group will now include leading Destination Management Specialists (DMS) like Asian Trails (APAC), Desert Adventures (MENA), ATM-Australian Tours Management (Australia), Allied T Pro (North America), Private Safaris (Eastern Africa) and Private Safaris (Southern Africa) under its network creating a seamless delivery capability for the group and its B2B and B2C customers across 21 countries and 4 continents. Post the acquisition, The Thomas Cook India Group, with over 6500 employees across 21 countries and a combined revenue in excess of Rs. 8700 crore (over $1.34 billion) has been -transformed into one of the largest travel service provider networks headquartered in the Asia-Pacific region. With this move, The Thomas Cook India Group’s travel business network has now expanded with the addition of 17 new countries, increasing its footprint to now cover 21 countries. The Group, which prior to this acquisition, comprisied Thomas Cook (India), SOTC Travel, TCI-SITA and Kuoni Hong Kong had a network spanning 4 countries – India, Sri Lanka, Mauritius and Hong Kong. Commenting on this development, Madhavan Menon, Chairman & Managing Director, The Thomas Cook India Group., said, “This acquisition of a significant part of Kuoni’s Global Destination Management network represents an important milestone for a rapidly growing Thomas Cook India Group, as we deliver on our stated strategy of rapid expansion in the Asia Pacific region. Now with a significantly enhanced global footprint across 4 continents and 21 countries, we have over 6500 employees serving customers across the world under some of the most respected brands …