Thomas Cook Plc Case Study Example | Topics and Well Written Essays - 3000 words

Thomas Cook Plc - Case Study Example Thomas Cool was a former Baptist minister and a very religious man and he firmly believed that alcohol was the major factor casing problems among the working class in England. It was with this in mind that the above-mentioned train journey was arranged. The first unofficial tour was this trip in open carriages, which took nearly 500 temperance supporters to Loughborough, and back in July 5, 1841. In 1845 Thomas Cook organized a tour to Liverpool which was accompanied by what must have been the first tour brochure ever printed in the world. His first international venture was to Paris during the time of an international exhibition which was held there. Further tours to other cities in Europe began and an established tour itinerary began to fall in place. A tour to Switzerland and later to Italy was conducted in 1864. With his clientele shifting from working class to middle and upper class passengers, Mr. Cook began to make arrangements with hotels in Europe by using something called t he hotel coupon. This enabled tourists to pay for the hotel rooms in advance and to stay at hotels without paying cash. Another innovation was the circular note, the forerunner of 'travellers cheque.' Trips to the US soon followed and later a trip by steamer up the river Nile was also arranged. All this success naturally led to thoughts of expanding further overseas to the US and Asia. Mr Cook himself was part of a trial world tour which covered the US, Japan, China, Singapore, Ceylon and India. This tour went on to become an annual event in the company's tour calendar.. An unexpected move by the then two owners saw the company being sold off to a Belgian tour operator called Compagnie Internationale des Wagons-Lits et des Grands Express Europens in 1928. Certain events during the world war saw the company near collapse and a deal was made where by the ownership changed back to British hands, this time by the government owned railway companies. Even though the company could benefit from the post war travel boom, things began to slow down by 1955 due to the emergence of new and dynamic tour operators. In 1972, Thomas Cook became privately owned once again through a purchase by a c onsortium of the Midland Bank, Trust House Forte and the Automobile Association. The famous red logo of Thomas Cook was introduced during this time. The company did well during this period and even managed to survive the 1970's depression. The Company came under the sole ownership of the Midland's Bank in 1980 and again sold of to Germany's third largest bank, Westdeutsche Landesbank (WestLB) and LTU group (an airline charter company). Thomas Cook later became the subsidiary of the German bank and soon acquisitions of Sun World, Time Off and Flying Colours took place. In 1999 a merger with Calrlsons Liesrue Group took place. The Company Thomas Cook Group PLC was formed in June 2007 through a merger of Thomas Cook AG and My Travel Group Plc. "It is now part of Thomas Cook Group plc (www.thomascookgroup.com) which was formed on June 19th 2007 by the merger of Thomas Cook AG and My Travel Group plc." (A Brief History). Business Strategy: Corporate growth strategy: The merger of Thomas Cook and My Travel has resulted in a very powerful tour operating company and has a string presence in UK and some European countries. This merger came about so that both the companies could compete more efficiently in a