Thomas Cook sells UK corporate travel business

Thomas Cook has completed the sale of its corporate travel business to Mawasem Travel and Tourism.

Thomas Cook sells UK corporate travel business Co-operative Travel Management
Thomas Cook sells UK corporate travel business Co-operative Travel Management

Co-operative Travel Management, a joint venture between Thomas Cook, the Co-operative Group and Midlands Co-operative, has been sold to Mawasem Travel and Tourism, the UK subsidiary of the Al Tayyar Group, a Middle Eastern-owned international travel group.

The division has reportedly been sold for around £13.5m.

The Altrincham-based Co-operative Travel Management team are currently unaffected by the sale.

Paul Casement, head of sports and events at The Co-operative Group, told C&IT: "The sale of the business keeps everything in tact - the senior management team and key personnel, and the location of our offices.

"The biggest change will be the fact that, as a business, we will have more control and be lighter on our feet, as we are now a 200-person operation, rather than a 20,000-plus business.

"We have new owners that are looking to invest in the business and are looking to launch some new products on the business travel side. We're excited by this opportunity."

Have you registered with us yet?

Register now to enjoy more articles
and free email bulletins.

Register now
Already registered?
Sign in
Dear C&IT: B2B events should be fun too

Dear C&IT: B2B events should be fun too

Rasha El-Shirbini from The fresh Group says whether it's consumer or B2B, think of delegates as humans first.

BCD M&E appoints chief operating officer

BCD M&E appoints chief operating officer

New COO will manage leaders from five regions, as the agency continues its global growth plan.

Is the cost of a venue the most important factor for corporate event planners?

Is the cost of a venue the most important factor for corporate event planners?

A panel at C&T’s Corporate Forum discusses what really matters when planners and suppliers work together.

Deadline for C&IT incentives survey this Friday

Deadline for C&IT incentives survey this Friday

Want to be recognised as one of the UK’s top incentive agencies? Complete this quick survey by 31st January.

What you need to know about the Coronavirus threat

What you need to know about the Coronavirus threat

Risk intelligence company assesses the response to the outbreak and its impact on travel.

Why delegates on a tropical incentive were happy to clean the beach

Why delegates on a tropical incentive were happy to clean the beach

Dell Technologies' StaceyLynn Hoaglan explains how the company is tackling its sustainability challenges.

Freeman hires new creative director amid 'significant' growth

Freeman hires new creative director amid 'significant' growth

Brand experience company makes appointment to lead its experiential creative team from the Soho office in London.

Event planners' top picks for Singapore revealed

Event planners' top picks for Singapore revealed

We asked two experts who have organised events in the country to share their experiences of the sovereign state.

How planners can prepare for a terror attack

How planners can prepare for a terror attack

Counter-terrorism expert Richard Pendry has advice for event organisers on how to respond to critical incidents.

Crisis planning: 'As an industry we are falling behind'

Crisis planning: 'As an industry we are falling behind'

Dale Parmenter, group CEO at DRPG, says event planners must take more responsibility for learning how to protect their delegates.

LATEST JOBS