Thomas Cook India Group to focus on US Business Travel – Commences USA Operations
Thomas Cook (India) Ltd., India’s leading integrated travel and travel related financial services company, announced the commencement of its USA Operations, in a focussed initiative to leverage the high potential business travel segment- to and from the Americas. The Company has accordingly obtained ARC (Airlines Reporting Corporation) accreditation and necessary operating licences via its Destination Management brand, Allied TPro (through Horizon Travel Services LLC, USA).
The Global Business Travel Association (GBTA) projects India to be one of the fastest growing markets over the next five years, with a growth rate of 11.3%. Thomas Cook India reiterates this clear opportunity, with its internal data highlighting a 23% YoY growth in its business travel segment over the last 3 years; and US travel contributing over 20% of its portfolio. Hence, in a strategic initiative to harness this significant potential and grow its corporate travel business, Thomas Cook India has commenced operations in the US.
Thomas Cook India’s USA initiative will enable the Company effectively manage the travel and related requirements of its large and expanding base of global business travellers with a two-pronged benefit: giving them direct access to fares and content from the US market, coupled with 24X7 solutions for their US travel and travel related services. The Company’s USA operations will offer its travellers a range of services include, air, hospitality and surface transportation across its business and b-leisure segments.
Speaking on the occasion, Indiver Rastogi, President, Global Corporate Travel at The Thomas Cook India Group said, “We are excited with this development that also marks the beginning of our Corporate Travel operations in the US – a market that offers us significant potential across business and b-leisure segments. This new initiative will enable Thomas Cook manage travel and related services for our growing customer portfolio of MNCs, Indian Corporate Houses, and equally SMEs travelling to and from USA”
He concluded with, “We see significant growth in the business travel sector and this move heralds our foray into key opportune markets- globally.”
The Thomas Cook India Group provides integrated Travel Management and Advisory Services to more than 500 corporates, including several leading national, multinational companies and SMEs. The large scale and size of its operations enables the company effectively provide process efficiencies coupled with specialization in tailor-made travel policies to suit each corporate requirement, thereby enabling savings on spend.
Shares of THOMAS COOK (INDIA) LTD. was last trading in BSE at Rs.202.75 as compared to the previous close of Rs. 202.4. The total number of shares traded during the day was 16479 in over 491 trades.
The stock hit an intraday high of Rs. 206.5 and intraday low of 200. The net turnover during the day was Rs. 3343095.