Thomas Cook India to capitalise on Tier III growth markets
via its Small Tech Assisted Outlets
~Inaugurates Thomas Cook Mini in Rudrapur, Uttarakhand~
~Thomas Cook India is the first Company to open a Foreign Exchange outlet in Rudrapur ~
Rudrapur (Uttarakhand), October 6, 2016: Thomas Cook (India) Ltd., India’s leading integrated travel and travel related financial services company, has chosen Rudrapur for the launch of its ‘Thomas Cook Mini’ in Uttarakhand- a strategic deployment of small technology assisted outlets to aggressively harness the growth potential emerging from India’s Tier III markets like Rudrapur. The Thomas Cook Mini outlet at Rudrapur was inaugurated Mr. Tilak Raj Behad, Chairman of Uttarakhand State Seed and Organic Production Certification Agency and former Cabinet Health Minister, Govt. of Uttarakhand, in the presence of Mr. Ambreesh Rastogi and Mr. Ankul Kumar- Associate Vice Presidents, Foreign Exchange, Thomas Cook (India) Ltd.
Thomas Cook India’s internal research having highlighted the powerful growth potential of Rudrapur (a significant source market for Foreign Exchange segments of Overseas Study/Students, Outward Remittances and Prepaid Cards), the Company conceptualised a strategy of small technology assisted outlets to rapidly penetrate this underserved market, and hence the launch of its innovative Thomas Cook Mini. The Thomas Cook Mini outlet at Rudrapur has been designed optimising space and will be manned by a 2 member team, equipped with technology via mobile devices/tablets for seamless online connectivity to central systems, thus facilitating quick customer transactions
This unique model delivers on a 2 pronged strategy of efficiencies of quick market penetration and scale-up. For its customers the benefits of Thomas Cook Mini outlets include: convenience and ease of access to Thomas Cook India’s diversity of Foreign Exchange Products & Services.
Mr. Mahesh Iyer, Chief Operating Officer, Thomas Cook (India) Ltd., said, “Rudrapur is a significant market for students (second only to Dehradun), equally a strong industrial hub for auto and agro based industries. With our internal data-analytics clearly revealing the untapped yet high growth potential of Rudrapur, a low-cost, rapid penetration model was a clear need, and hence the launch of our Thomas Cook Mini. Such small, efficient, technology assisted outlets (equipped with mobile devices or tablets) will provide our customers with ease in access & convenience of swift foreign exchange transactions and we are very excited with the initial response from our new Uttarakhand Thomas Cook Mini at Rudrapur.”
Thomas Cook (India) Ltd.
C-56 Opp-PAC, Nainital Road, Awas Vikas, Rudrapur (U.S. Nagar) Uttarakhand-263153
Phone: 05944- 240072
About Thomas Cook (India) Limited: Thomas Cook (India) Ltd (TCIL) is the leading integrated travel and travel related financial services company in the country offering a broad spectrum of services that include Foreign Exchange, Corporate Travel, MICE, Leisure Travel, Insurance, Visa & Passport services and E-Business. The company set up its first office in India in 1881.
TCIL’s footprint (exclusive of its subsidiaries) currently extends to over 229 locations (including 16 airport counters) in 91 cities across India, Mauritius & Sri Lanka and is supported by a strong partner network of 111 Gold Circle Partners and 112 Preferred Sales Agents in over 130 cities across India.
ICRA has retained the long-term rating of Thomas Cook (India) Limited’s non-convertible debenture programme at ‘ICRA AA/Stable’. CRISIL has assigned a long term rating of ‘CRISIL AA– / stable’ to the non-convertible debenture programme and long-term banking facilities, and a short-term rating of ‘CRISIL A1+’ to TCIL’s banking facilities. Further, ICRA has retained the rating of ‘ICRA AA– / Stable’ on the Company’s preference share programme.
Thomas Cook (India) Ltd has been voted as Favourite Outbound Tour Operator at the Outlook Traveller Awards 2015, Best Tour Operator - Outbound at the CNBC AWAAZ Travel Awards 2015, 2014 & 2013 and Best Company providing Foreign Exchange at the CNBC AWAAZ Travel Awards 2015 & 2014; felicitated with Diamond Award for Exemplary Achievements in Visa Issuance at the French Ambassador's Travel Awards Ceremony 2015; Thomas Cook India’s Travel Quest was honoured with a Gold Award at PATA Gold Awards 2015; honored as India's Leading Tour Operator 2014, World Travel Awards Asia & Australasia 2014, Favourite Tour Operator at the Condé Nast Traveller Readers' Travel Awards 2015 - 2011 ,recognized as a Consumer Superbrand 2013-14 & 2012-2013 and National Tourism Awards 2013-2014. Thomas Cook India’s Centre of Learning has received IATA accreditation as “Top 10 South Asia IATA Authorized Training Centers” 2016, 2015, 2013 & 2012. For more information, please visit www.thomascook.in
Thomas Cook (India) Limited is promoted by Fairfax Financial Holdings Limited through its wholly-owned subsidiary, Fairbridge Capital (Mauritius) Limited and its controlled affiliates. Fairbridge is responsible for the execution of acquisition and investment opportunities in the Indian subcontinent on behalf of the Fairfax family of companies.
About Fairfax Financial Holdings Limited: Fairfax Financial Holdings Limited is a holding company which, through its subsidiaries, is engaged in property and casualty insurance and reinsurance and investment management. The Company is headquartered in Toronto, Canada and has a global presence in insurance and reinsurance, including ICICI Lombard (India). The Company, founded in 1985 by the present Chairman and Chief Executive Officer, Prem Watsa, has, over the past 30 years, demonstrated a strong and consistent financial track record. For the year ended December 31, 2015, Fairfax increased book value per share at a compounded annual growth rate of 20.4% since its inception with a corresponding compounded annual increase in share price of 19.4% and had over US $41 billion of assets.
Fairfax is engaged in long term investments from its own resources, with a focus to delivering long term capital appreciation through a flexible and value oriented approach. Fairfax Financial Holdings through Thomas Cook (India) Ltd. owns 62.6% of the Quess Corp Limited (formerly IKYA Human Capital Solutions Limited), a provider of integrated business services and 100% of Sterling Holiday Resorts Limited (formerly Thomas Cook Insurance Services (India) Limited) engaged in time share and resort business.
About Quess Corp Limited (formerly IKYA Human Capital Solutions Limited)
Quess Corp Limited is one of India’s leading integrated business services providers operating in four broad segments: Global Technology Solutions, People and Services, Integrated Facility Management and Industrial Asset Management. Headquartered in Bengaluru, it has a pan-India presence with 52 offices across 27 cities, as well as operations in North America, the Middle East and South East Asia. As of June 30, 2016, it employed over 127,000 employees.For further details on Quess Corp Ltd. please visit: http://www.quesscorp.com
About Sterling Holiday Resorts Limited: Sterling Holiday Resorts Limited, a pioneer in vacation ownership and a leading leisure hospitality company in India, was incorporated in 1986 with the vision of delivering great holiday experiences to Indian families. To achieve this vision, the company pioneered Vacation Ownership in India and set about building a network of leisure resorts at some of the best holiday destinations in India. Currently, Sterling Holidays has a total inventory of 1930 rooms spread across a network of 26 resorts in 23 scenic holiday destinations in India.
In pursuance of the Order of Hon’ble High Court, Bombay, dated July 2, 2015 sanctioning the Composite Scheme of Arrangement and Amalgamation between Sterling Holiday Resorts (India) Limited (SHRIL) and Thomas Cook Insurance Services (India) Limited (TCISIL) and Thomas Cook (India) Limited (TCIL) and their respective shareholders and creditors (Scheme), the time share and resort business division and undertaking of SHRIL was Demerged into TCISIL and the residual business of SHRIL was Amalgamated with TCIL.
Post implementation of composite scheme, Sterling Holiday Resorts Limited (formerly Thomas Cook Insurance Services (India) Limited) continued the vacation ownership and resort business. In March 2016, Sterling acquired 100% stake in Nature Trails (an adventure holiday company) and this will add 93 rooms + Tents and Dorms [400 beds] to the total room inventory of Sterling. The company also has 16 additional sites where it plans to add new resorts in the coming years. For more information visit: www.sterlingholidays.com
About SOTC Travel Services Pvt Ltd (formerly known as Kuoni Travel (India) Pvt. Ltd) & Kuoni Hong Kong: SOTC Travel Services Pvt Ltd (Formerly known as "Kuoni Travel (India) Pvt. Ltd.") is a step-down subsidiary of Fairfax Financial Holdings Group; held through two companies, its Indian listed subsidiary, Thomas Cook (India) Limited (TCIL) and TCIL's subsidiary Travel Corporation (India) Ltd.
SOTC is a leading travel and tourism company active across various travel segments including Leisure Travel, Business Travel, Destination Management Services and Distribution Visa Marketing Services.
TCIL through its step down Subsidiary Luxe Asia Travel (China) Limited (formerly known as Horizon Travel Holdings (Hong Kong) Private Limited) holds 100% stake in Kuoni Travel (China) Limited (Kuoni Hong Kong), which has an attractive business in the travel sector backed by a trusted brand name, and a stable and motivated professional management team. Kuoni Hong Kong is a premium outbound travel operator in Hong Kong.
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