Travel Giant Thomas Cook Announces Acquisition of Essential Travel

Posted in Travel, Web Travel News by Hank on the March 17th, 2010

Thomas Cook, the popular UK-based travel agent, announced this week that they were going to take the reins of Essential Travel through the acquisition of Essential’s parent company Think W3.

If the deal is approved by the FSA, as expected, it will be a real boon to Thomas Cook’s portfolio of travel services they are able to offer customers.

A Nice Coup For Thomas Cook

Essential Travel have been around for about a decade and have established themselves as a leading online travel extras provider, with products ranging from travel insurance to airport parking to airport hotels with parking. The company reported gross assets of £2.5 million for the financial year that ended on the 31st of March 2009.

The Reasoning Behind The Move

Manny Fontenla-Novoa, chief executive of the Thomas Cook Group, said:

“We continue to believe a strong position in the direct travel insurance market is strategically important.

“Furthermore, we expect that together with the experienced directors of Essential Travel, we can build upon our respective strengths to enhance Thomas Cook’s position in both travel insurance and other travel services such as airport parking and airport hotels.”

Tell Us What You Think

What do you think? Should service providers like Essential Travel try to remain independent to prevent just a few big companies from creating a stranglehold on the market? Leave us a comment and let us know.