Fosun Tourism Group acquires the Thomas Cook brand and certain related hotel brands for a total consideration of GBP11 Million

(1 November 2019, Hong Kong) Fosun Tourism Group (“Fosun Tourism” or the “Company”; together with its subsidiaries, the “Group”, Stock Exchange stock code: 01992), the world’s leading leisure-focused integrated tourism group, is pleased to announce that it has entered into an agreement with Thomas Cook Group plc and certain of its subsidiaries (all in liquidation) to acquire the Thomas Cook brand, and the hotel brands Casa Cook and Cook’s Club for a total consideration of GBP11 million.

According to the agreement, the transferred assets include right, title and interest in certain trademarks, domain names, software applications, social media accounts and licences relating to the Thomas Cook, Casa Cook, Cook’s Club brands and other related brands across most international markets. With a history of 178 years, the Thomas Cook is the pioneer of modern travel and one of the most well-known tourism brands around the world. Casa Cook is an award-winning boutique lifestyle hotel brand with a focus on design, high-quality food and wellbeing. Cook’s Club is a beach hotel concept designed for a new generation of travelers, with a modern and stylish design and casual but great dining.

Mr. Qian Jiannong, Chairman of Fosun Tourism Group, said, “The Group has always believed in the brand value of Thomas Cook. The acquisition of the Thomas Cook brand will enable the Group to expand its tourism business building on the extensive brand awareness of Thomas Cook and the robust growth momentum of Chinese outbound tourism. Meanwhile, the introduction of new hotel brands will further enrich the offering of accommodation choices for tourism destinations business by the Group, diversify our resort and hotel operations and improve the FOLIDAY ecosystem in providing customers with quality holiday experience across the globe.  After the acquisition of certain Thomas Cook related brands, the overseas acquisition related to Thomas Cook will come to an end for the time being. Following the acquisition, the Group will focus on business expansion, using the newly acquired Thomas Cook brands to create synergies with the existing businesses of the Group.”