Thomas Cook sells off Elegant Resorts
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Thomas Cook Group has sold Elegant Resorts to Saudi Arabia travel group Al Tayyar for GBP14.3 million.
The luxury tour operator employs around 100 people who will retain their jobs at Elegant Resort’s Chester offices.
“Today’s announcement is consistent with our strategy of rationalising our UK business. The sale of Elegant Resorts enables us to realise value from an asset that is not central to our business, allowing us to further focus on our key brands and products to drive our profitable growth strategy,” said Harriet Green, group chief executive officer of Thomas Cook Group. “We wish Al-Tayyar and the Elegant Resorts team well and look forward to exploring future areas of collaboration with Al-Tayyar.”
Thomas Cook’s other UK tour operations are not affected.
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