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Thomas Cook to set up hotel investment platform

Technology
Jennifer Morris
26 September 2017

Thomas Cook has entered into a strategic partnership with LMEY Investments, a Swiss-based hotel property development company, to develop and grow its own-brand hotel portfolio.

Sunwing Kalithea Beach, Greece

As part of the new partnership, Thomas Cook has acquired a 42% stake from LMEY in Aldiana, a premium club and activity-focused tour operator and hotel management company based in Germany. Aldiana currently operates eight club resorts in Spain, Greece, Cyprus, Tunisia and Austria, with plans to open another four resorts over the next two years.

Following the acquisition, Aldiana will sit alongside Cook’s six existing proprietary hotel brands, bolstering Cook’s own-brand hotel portfolio with a club offering and broadening its reach to new customers.