Thomas Cook selling its travel business: Chinese investment fund interested

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Written by Alain St.Ange

Thomas Cook is the world’s oldest tour operator and was founded in Market Harborough in 1841 by businessman Thomas Cook. It started off with organized railway outings for members of the local temperance movement.

The travel company received approaches for parts of its business and the company as a whole, according to reports. The business put its airline up for sale in February and it said last month it would close 21 stores across the country and cut more than 300 jobs.

Chinese investment firm Fosun International could be a bidder for the company’s tour operating business, which runs a joint venture with Thomas Cook in China. It could be months before any formal offer is lodged, and there is no guarantee one will be made.

Thomas Cook now has annual sales of £9bn, 19 million customers a year and 22,000 staff operating in 16 countries.

In September, Thomas Cook said profits would be hit after the summer heat wave saw many take their holidays in the UK. It issued a second profit warning in November, when it said winter bookings were also down.

The shop closures will take the number of Thomas Cook outlets down to 566. It said a consultation with staff and unions had begun.

About the author

Avatar of Alain St.Ange

Alain St.Ange

Alain St Ange has been working in the tourism business since 2009. He was appointed as the Director of Marketing for Seychelles by President and Minister of Tourism James Michel.

He was appointed as the Director of Marketing for Seychelles by President and Minister of Tourism James Michel. After one year of

After one year of service, he was promoted to the position of CEO of the Seychelles Tourism Board.

In 2012 the Indian Ocean Vanilla Islands regional Organization was formed and St Ange was appointed as the first president of the organization.

In a 2012 cabinet re-shuffle, St Ange was appointed as Minister of Tourism and Culture which he resigned on 28 December 2016 in order to pursue a candidacy as Secretary General of the World Tourism Organisation.

At the UNWTO General Assembly in Chengdu in China, a person who was being sought after for the “Speakers Circuit” for tourism and sustainable development was Alain St.Ange.

St.Ange is the former Seychelles Minister of Tourism, Civil Aviation, Ports and Marine who left office in December last year to run for the position of Secretary General of the UNWTO. When his candidature or document of endorsement was withdrawn by his country just a day before the elections in Madrid, Alain St.Ange showed his greatness as a speaker when he addressed the UNWTO gathering with grace, passion, and style.

His moving speech was recorded as the one on the best marking speeches at this UN international body.

African countries often remember his Uganda address for the East Africa Tourism Platform when he was a guest of honor.

As former Tourism Minister, St.Ange was a regular and popular speaker and was often seen addressing forums and conferences on behalf of his country. His ability to speak ‘off the cuff’ was always seen as a rare ability. He often said he speaks from the heart.

In Seychelles he is remembered for a marking address at the official opening of the island’s Carnaval International de Victoria when he reiterated the words of John Lennon famous song… ” you may say I am a dreamer, but I am not the only one. One day you will all join us and the world will be better as one”. The world press contingent gathered in Seychelles on the day ran with the words by St.Ange which made headlines everywhere.

St.Ange delivered the keynote address for the “Tourism & Business Conference in Canada”

Seychelles is a good example for sustainable tourism. This is therefore not surprising to see Alain St.Ange being sought after as a speaker on the international circuit.

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