Thomas Cook secures funds to acquire more hotels
Thomas Cook has secured a €51million (£45m) loan from a Spanish bank to acquire new hotels in the Mediterranean.
The loan to Thomas Cook Hotel Investments from CaixaBank comes on top of €40 million raised from Piraeus Bank three months ago.
The funds will go towards acquiring properties in the Med, including a 250-room hotel in the Canary Islands and a 300-room hotel in the Balearics.
TCHI has seven hotels in the fund, which are valued at about €250m. Its ambition is to build a portfolio of 10 to 15 hotels within the next two years.
Enric Noguer, head of Thomas Cook hotels and resorts, said: "This new round of funding is a big step forward for TCHI, providing us with support to accelerate our acquisition programme in our biggest holiday destination.
"The fund’s flagship hotel, Casa Cook Ibiza, opens this summer and with this new funding we’ll be able to create further top-class hotels and holidays for our customers."
TCHI’s strategy is to invest in underperforming hotels and turn them into own-brand properties.
Last month Thomas Cook announced it will build two new hotels in China as part of its joint venture with investment company Fosun International, including the first Asian branch of its Casa Cook brand.
The hotels, which are due to open in late 2020, will be built by Fosun and managed by Thomas Cook China.
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
Vegas’s Billion-Dollar Secrets – What They Don’t Want Tourists to Know
Visit Florida’s New CEO Bryan Griffin Shares His Vision for State Tourism with Graham
Chicago’s Tourism Renaissance: Graham Interviews Kristin Reynolds of Choose Chicago
Graham Talks with Cassandra McCauley of MMGY NextFactor About the Latest Industry Research
Destination International’s Andreas Weissenborn: Research, Advocacy, and Destination Impact
Graham and Don Welsh Discuss the Success of Destinations International’s Annual Conference
Graham and CEO Andre Kiwitz on Ventura Travel’s UK Move and Recruitment for the Role
Brett Laiken and Graham Discuss Florida’s Tourism Momentum and Global Appeal
Graham and Elliot Ferguson on Positioning DC as a Cultural and Inclusive Global Destination
Graham Talks to Fraser Last About His England-to-Ireland Trek for Mental Health Awareness
Kathy Nelson Tells Graham About the Honour of Hosting the World Cup and Kansas City’s Future
Graham McKenzie on Sir Richie Richardson’s Dual Passion for Golf and His Homeland, Antigua
ADS PRO 
France prepares for a massive strike across all transports on September 18
Turkish tourism stalls due to soaring prices for accommodation and food
CCS Insight: eSIMs ready to take the travel world by storm
Germany new European Entry/Exit System limited to a single airport on October 12, 2025
Airlines suspend Madagascar services following unrest and army revolt