SHANGHAI: Thomas Cook Group Plc will build two new hotels in China with its joint venture partner Fosun International Ltd, including the first Asian branch of its own Casa Cook brand.
The hotels, one in Lijiang in southwestern China, and the other in Taicang, near Shanghai, would be built by Fosun and managed by Thomas Cook China, and would open in late 2020, the companies said in a statement.
The UK tour operator is targeting China’s US$761bil tourism industry as the company sets its sights on the nation eventually accounting for between 15% and 30% of sales.
Thomas Cook now has four own-brand hotels being built in China. It plans to open as many as 15 over the next five years, chief executive officer Peter Fankhauser said last year. — Bloomberg
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