Thomas Cook Buys Hotels4U in £22m Deal

15th February 2008 (Last Updated February 15th, 2008 04:51)

Travel company Thomas Cook has bought hotel booking website Hotels4U.com in a £22m deal. Hotels4U, which claims to have half a million customers, features more than 30,000 hotels and is the UK's largest independent bed bank. Thomas Cook Group Chief Executive Manny Fontenla-Nov

Travel company Thomas Cook has bought hotel booking website Hotels4U.com in a £22m deal.

Hotels4U, which claims to have half a million customers, features more than 30,000 hotels and is the UK’s largest independent bed bank.

Thomas Cook Group Chief Executive Manny Fontenla-Novoa says the acquisition fits perfectly with the firm’s aim of strengthening its position in the independent travel market.

Thomas Cook says Hotels4U Managing Director Haim Perry and Finance Director Jacky Bedlow have agreed to reinvest about £3m of the proceeds from the sale.

By staff writer