British tour operator Thomas Cook has big plans to invest in Russian tourism as part of its expansion strategy. Russia, as a country is highly aware of its status as a tourist hotspot and adopts a very modern approach when it comes to maximizing its appeal to the global travelers. Moreover, a larger number of Russians are flocking to foreign shores to celebrate holidays without caring much about over spending.
Taking cues from this extremely encouraging travel status, Thomas Cook has taken a smartstep to collaborate with Russia’s Intouris tourism brand to expand its business across Russia. Along with Russia, Thomas Cook has plans to hook travelers from Asian counties like China and India as the trend to travel abroad is increasing every year.So, the operator will be spotted making various partnerships across the Asian regions very soon.
As far as Thomas Cook’s deal with Intouris is concerned, we provide you some highlights of the agreement:
• Thomas Cook will acquire a 50.1% stake in Intouris and pay $45m (£29m) in cash and shares.
• For sunshine loving Russians, Thomas Cook will work on providing beach holiday packages with Intouris.
• The joint venture will include Intourist’s outbound, domestic and inbound tour servicing operations.
• Thomas Cook will actively take charge of expanding its retail travel network with the help of Intouris.
• Plus, the focus of expansion will be Russia and the other CIS countries.
• However, the deal does not include Intourist's hotels division.
This definitely looks like a gigantic plan as Thomas Cook plans to sail half-way across the world with an agenda to extend its brand name.
But what about Intourist? Let’s take a quick glance at this Russian travel firm
Besides being the frontrunner in the Soviet market, Intouris has an 81- year history and founded under Josef Stalin. Before privatizing itself in 1990s, Intouris offered somewhat unprivileged services to the foreign travelers such as ill-fitting bed-sheets and dimly lit rooms. The firm offered better and more commercialized amenities to foreign travelers after emerging from the Soviet Union’s shadow.
Now since Intouris is going to operate under an FTSE 250 tour operator, it is going to help Thomas Cook to get a foothold in the Russian market, providing Russian travelers with warmer and more delightful holidays packages to enjoy.
Taking cues from this extremely encouraging travel status, Thomas Cook has taken a smartstep to collaborate with Russia’s Intouris tourism brand to expand its business across Russia. Along with Russia, Thomas Cook has plans to hook travelers from Asian counties like China and India as the trend to travel abroad is increasing every year.So, the operator will be spotted making various partnerships across the Asian regions very soon.
As far as Thomas Cook’s deal with Intouris is concerned, we provide you some highlights of the agreement:
• Thomas Cook will acquire a 50.1% stake in Intouris and pay $45m (£29m) in cash and shares.
• For sunshine loving Russians, Thomas Cook will work on providing beach holiday packages with Intouris.
• The joint venture will include Intourist’s outbound, domestic and inbound tour servicing operations.
• Thomas Cook will actively take charge of expanding its retail travel network with the help of Intouris.
• Plus, the focus of expansion will be Russia and the other CIS countries.
• However, the deal does not include Intourist's hotels division.
This definitely looks like a gigantic plan as Thomas Cook plans to sail half-way across the world with an agenda to extend its brand name.
But what about Intourist? Let’s take a quick glance at this Russian travel firm
Besides being the frontrunner in the Soviet market, Intouris has an 81- year history and founded under Josef Stalin. Before privatizing itself in 1990s, Intouris offered somewhat unprivileged services to the foreign travelers such as ill-fitting bed-sheets and dimly lit rooms. The firm offered better and more commercialized amenities to foreign travelers after emerging from the Soviet Union’s shadow.
Now since Intouris is going to operate under an FTSE 250 tour operator, it is going to help Thomas Cook to get a foothold in the Russian market, providing Russian travelers with warmer and more delightful holidays packages to enjoy.
