Thomas Cook is set to launch a new £150m fund to finance the expansion of its own brand hotels.
The tour operator has put two of its Sunwing hotels, which are on the Greek islands of Rhodes and Crete, into the Thomas Cook Hotel Investments fund alongside another three owned by its partner in the scheme, the Swiss-based hotel property development company LMEY Investments.
The pair will use the hotel assets as collateral to borrow money to help fund the rollout of more of Thomas Cook’s seven own brand hotels, such as Casa Cook and Sunwing.
