Thomas Cook Group who own a number of hotel booking websites as well as their package holiday brands have issued their third profits warning of the year leaving their shares down 30% as investors took fright. Thomas Cook Group shares now trade at just 72p, a third of their value of over 200p just a year ago. They are now at their lowest level since the merger with troubled MyTravel in 2007.
Thomas Cook Group trades as Hotels4u and Medhotels as well as other leading travel names such as Airtours, Club 18-30 Holidays, Cresta, Cruise Thomas Cook, Direct Holidays, Elegant Resorts, Flexibletrips, Flythomasco…, Gold Medal, Manos, Neilson, Netflights, Panorama, Pure Luxury, Sentido, Style, Sunset, Sunworld Holidays, Swiss Travel Service, Thomas Cook, Thomas Cook Signature, Thomas Cook Tours and Thomas Cook Sport.
All Thomas Cook Group package holiday bookings are fully protected by ATOL so you can rest assured that your money is safe if you have booked a package holiday with them.
Analyst Morgan Stanley suggested the group would be in “a tough discussion with its banks – we forecast Thomas Cook will come close to its debt covenants in the next six months – while we don’t think it’s that bad, market leaders have collapsed before”.
If we were looking for peace-of-mind for our Hotel Booking then the Hotel-Traveller team would probably feel far happier booking hotels online with some of the other hotel booking specialists given the current financial uncertainty.
Hotel-Traveller favourites are indicated in BoldShare