Friday, 31 July 2015

Thomas Cook India Acquires Luxe Asia

By 121 News

Chandigarh 31st July:-  Thomas Cook (India) Ltd., announced its acquisition of Luxe Asia, a Destination Management Company based in Sri Lanka, through its wholly owned subsidiary Thomas Cook Lanka (Pvt) Ltd. The Company will be operated as an independent entity. Thomas Cook India's acquisition of Luxe Asia gives it significant presence in Sri Lanka with destination management capabilities in Sri Lanka and the Indian Ocean region; also synergies with its key business lines of Outbound, Inbound and Corporate MICE.  

Based in Sri Lanka, Luxe Asia is focussed primarily on inbound tourism from key global markets and services both tour operator and traveller segments across its ten destinations in the Indian Ocean Region and Asia. The 2 joint ventures of Luxe Asia include, Khiri Travels, a leader with over 20 years of operation in the South East Asian region; also a Destination Management Company for the UAE market.

Commenting on the acquisition, Madhavan Menon, Managing Director, Thomas Cook (India) Ltd. said that our acquisition of Luxe Asia reiterates delivery of our strategic intent of establishing a global Destination Management presence. Luxe Asia will continue to focus on its core domain of Inbound Tourism across key global source markets. He concluded by stating that Luxe Asia is a great fit to our portfolio and we aim to draw on the strong synergies with our Outbound, Inbound and MICE businesses at Thomas Cook India.


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