Thomas Cook India Eyes Unprecedented Growth in Hospitality Sector

Thomas Cook India's Executive Chairman, Madhavan Menon, discusses the promising outlook for the hospitality sector, driven by rising domestic tourism and economic growth. The company plans to open 20 new holiday outlets and expand its hospitality arm, Sterling Holidays, which aims to add 20 more resorts within 15 months.

Thomas Cook India's hospitality sector is set to experience robust growth in the coming years, according to the company's Executive Chairman, Madhavan Menon.

In an interview with PTI, Menon highlighted the company's expansion plans to open around 20 new holiday outlets across Tier 1-3 cities and towns. This plan includes a mix of owned and franchise locations.

The company reported a minor uptick in consolidated net profit, reaching Rs 73.13 crore for the quarter ending June 30. The total income rose to Rs 2,134.33 crore, up from Rs 1,931.87 crore in the same period last year.

Menon noted that long-term demand in the hospitality sector is expected to grow over 10%, driven by a 20% year-on-year increase in domestic tourism. Key leisure markets are forecasted to see a 13% growth rate.

The company's hospitality arm, Sterling Holidays, is also expanding its portfolio using an asset-right model, having reached 50 resorts with plans for another 20 in the next 15 months.

Menon emphasized that the rise in economic activity is also boosting the corporate travel business.

(With inputs from agencies.)