Thomas Cook India buys Sri Lanka travel firm
ECONOMYNEXT – Thomas Cook (India) Ltd, said it had bought Luxe Asia, a Sri Lanka-based travel company that with partnerships in the Middle East and East Asia, through its unit in the island.
Luxe Asia was part of Ceylon Hotel Holdings, a leisure group that owns Colombo’s Galle Face Hotel.
The acquisition was carried out through Thomas Cook Lanka (Pvt) Ltd at an undisclosed price.
"Our acquisition of Luxe Asia reiterates delivery of our strategic intent of establishing a global destination management presence," Thomas Cook India Managing Director Madhavan Menon said in a statement.
"Luxe Asia will continue to focus on its core domain of inbound tourism across key global source markets."
Sri Lanka has become fast expanding destination for Indian travellers with easy visa and air connections.
Indian tourists to Sri Lanka grew 27 percent to 145,453 in the 6-months to June 2015 and is the largest source destination.
But Luxe Asia also has joint ventures in Dubai and East Asia, expanding its reach beyond the island. (Colombo/July31/2015)