London – 9 February 2017 –
Tour operator Thomas Cook said summer bookings are ahead of last year, after it responded to the security turmoil of 2016 by expanding its presence in Greece, Portugal and Croatia.
The British travel group remains cautious about the rest of the year, given the uncertain political and economic outlook, after security issues disrupted travel in the previously popular Turkey last year, Reuters reported.
But it has made a good start to the new year, with 31 percent of its summer holidays already sold, with bookings 9 percent ahead of last year.
“In preparation for the summer season, we have expanded our holiday offering to Greece and a number of smaller destinations across Europe, and I’m pleased that this early action is paying off,” Chief Executive Peter Fankhauser said in a statement, adding that demand for holidays in Turkey remained weak.
In its first-quarter results, the group said its performance was in-line with its expectations, and that it expected full-year results to fulfill current market expectations.
It said that revenue was up 1 percent to 1.62 billion pounds, and its gross margin rose 10 basis points to 22.1 percent, reflecting focus on own-brand and selected partner hotels.