Thomas Cook Group has bought accommodation-only supplier hotels4u.com for an initial cash sum of £21.8 million from owners the Centurion Holiday Group.
Hotels4u.com is the UK’s largest bed bank and provides accommodation and resort transfers to more than 500,000 customers a year and has access to more than 30,000 hotels internationally.
Under the deal, the current management team at hotels4U.com will remain with the business, including founder Haim Perry, who founded the company in 2003.
Thomas Cook chief executive Manny Fontenla-Novoa said: “This is an acquisition that fits perfectly with our strategy of enhancing Thomas Cook’s position in the independent travel sector and will also further strengthen our mainstream business.”
Hotels4u.com managing director Haim Perry added: “As a business we now have access to international markets that Thomas Cook is present in and therefore the opportunity for further growth.”
- Read the PDF press release from Thomas Cook.