Thomas Cook liquidators find buyer for its share in Casa Cook hotels
Thomas Cook’s flagship Casa Cook hotels have been bought from the liquidators by its former joint venture partner LMEY Investments.
Casa Cook Ibiza and Casa Cook Kos are two of eight hotels owned by Westford Capital Ltd, which was jointly owned by Thomas Cook and LMEY.
LMEY has acquired Thomas Cook’s stake in Westford Capital, giving it 100% ownership of the hotel investment company, which was established in May 2018 to acquire and reposition underperforming and underinvested hotels across Mediterranean sun and beach markets
In addition to the two Casa Cook properties, Westford also owns three Sunwing hotels, a SunClub and two Aldiana hotels. A further property is expected to open in Kos in 2021.
Following Thomas Cook’s demise last year, its Casa Cook hotels in Ibiza and Kos have been rebranded OKU Hotels, a newly-established brand focusing on the five-star luxury hotel segment.
Westfort Capital Managing Director Piers Bradley, said: "We are very pleased that LMEY have increased their shareholding to 100%. In LMEY we have a strong partner who supported our business from inception and who will continue to work with us to realise our ambitions for further growth."
LMEY founder Hans Kortlevers said: "Acquiring full ownership of Westfort Capital represents an exciting opportunity to expand LMEY’s investment in a robust platform, with an experienced management team, and a high-quality hotel portfolio.
"The tourism industry has been challenged by the Covid-19 crisis, however we are confident that we have an attractive range of destinations, and the emerging appetite we’re seeing for bookings indicates a positive bounce back. With an excellent track record of growth, we look forward to the next phase and the prospect of further hotel investments in the near future."
By Linsey McNeill, Editor (UK)
Linsey McNeill
Editor Linsey McNeill has been writing about travel for more than three decades. Bylines include The Times, Telegraph, Observer, Guardian and Which? plus the South China Morning Post. She also shares insider tips on thetraveljournalist.co.uk
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