Thomas Cook has acquired UK-based luxury travel company Elegant Resorts, after paying an undisclosed sum of money. Elegant Resorts, formed in 1988 by Geoff Moss and Barbara Catchpole, is a Chester-based travel company that provides perfectly planned, exotic trips to the Caribbean and to Africa. It organised trips for 20,000 holidaymakers in 2007 itself. Its total gross assets amounted to ₤22.3 million.

Thomas Cook has made this acquisition from existing cash resources and they intend to run Elegant Resorts as a stand alone business, without changing the company’s current management team. Thomas cook’s chief executive Manny Fontela-Novoa said, “We are delighted to have secured this acquisition, which allows Thomas Cook to further enhance its position in this lucrative and growing segment of the leisure travel market. Elegant Resorts has a very strong brand name, associated with luxury, style and bespoke holidays and fully supports our strategic aim to become a leading independent travel provider.”

Thomas Cook had already bought over hotel booking website Hotels4u.com, earlier this year, in a deal amounting to ₤22 million. Thomas Cook itself already provides high end holiday solutions, like the one provided by Elegant Resorts, through its own brands Latitude and Thomas Cook Signature.

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