News that Thomas Cook Hotel Investments and Swiss hotel development group LMEY Investments, raised €40 million to invest in hotels around the Mediterranean with Greece’s Piraeus Bank bears watching today.
Thomas Cook Group PLC has announced selling their North American operations to Canada firm Red Label Vacations Inc. According to the news, the deal was worth only $5.2 million from the firm that operates travel website www.redtag.ca.
In hotel news from the Middle East, Dubai based Ali International Hotels has launched a major development pan of all its Dubai properties. The company plans to refurbish several properties to the tune of roughly $40 million US, according to the news.