Co-operative Travel unveils its tour operating business
The Co-operative Travel Group is launching a tour operating business after signing an agreement with Cosmos Holidays.
The two are entering into an exclusive joint venture to form a new tour operation under The Co-operative brand: Co-operative Holidays Ltd.
The new business will be launched in early summer 2009, starting with a summer 2010 programme.
Mike Greenacre, managing director of The Co-operative Travel Group, said: “It is some time since we made our initial announcement about our intention to launch our own tour operation, but we are now in a position to confirm our plans.
“The market has evolved somewhat in recent months and our objective of protecting access to stock and earnings is more pertinent than ever.
“In the past 18 months the travel industry has developed at an exceptional pace which has now given us a different perspective on launching our own brand tour operation.
“What we are about to embark upon is much more driven by the re-launch of The Co-operative brand and the values that our customers, staff and members put upon it.
“This is what has taken the time: firstly to be very clear about how we can differentiate a new brand in the tour operating arena and, secondly, to be certain that in putting our brand into tour operating and the holiday marketplace we will meet the exacting standards required by the Co-operative brand.
“In order to achieve this we were clear about needing to partner with a business that could share our visions, be non-competitive from a distribution point of view and meet our exacting financial criteria.”
He said with no direct retail distribution of its own, Cosmos is perfectly placed to be its partner.
Peter Brown, chief executive of Cosmos Holidays and the Monarch Travel Group, said: “The joint venture partnership is a perfect fit for both of our businesses. Between us we shall be setting up a management board to run the operation independently, and both parties will bring clear benefits to the venture where distribution is a very key part of running a successful and profitable tour operation.
“The significant reduction in capacity during the past 18 months does, in our view, leave a sensible gap in the market, although Mike and I are both very keen to ensure that supply and demand remain in good balance within the industry.
“This is not about selling huge volumes at give-away prices. The operation has to be differentiated for our customers, offer exceptional value for money and recognise the growing demand for sustainable tourism.
“We believe that between us over the next few years we can establish a brand in tour operating that offers a real difference.â€
The new joint venture is in the process of establishing its first programmes for 2010 that will be launched in early Summer 2009. Winter programmes will follow.
By Bev Fearis
Bev
Editor in chief Bev Fearis has been a travel journalist for 25 years. She started her career at Travel Weekly, where she became deputy news editor, before joining Business Traveller as deputy editor and launching the magazine’s website. She has also written travel features, news and expert comment for the Guardian, Observer, Times, Telegraph, Boundless and other consumer titles and was named one of the top 50 UK travel journalists by the Press Gazette.
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