Successfully reported this slideshow.
We use your LinkedIn profile and activity data to personalize ads and to show you more relevant ads. You can change your ad preferences anytime.

A detail Study On Thomas cook

1,664 views

Published on

A detail Study On Thomas cook

Published in: Travel
  • Be the first to comment

A detail Study On Thomas cook

  1. 1. A Detailed Study on Thomas Cook India Page | 1 A Detail Information Study on Thomas Cook India Submitted By PGDM 05 (SECTION B) (2015-2017) Tanmoy Roy (030105007) Under the guidance of Prof. Arpita Chowdhury (Faculty of Business Communication, Globsyn Business School) In Department of Management Studies Globsyn Business School MouzaChandi, PS- Bishnupur, Amtala, J.L. No- 101, District- 24 Parganas (South), D.H. Road, Pin- 743503, West Bengal, India.
  2. 2. A Detailed Study on Thomas Cook India Page | 2 Table Of Contents Page No CHAPTER 1 3-6 CHAPTER 2 7-8 CHAPTER 3 9-13 CHAPTER 4 14 CHAPTER 5 15-17 CHAPTER 6 18-22
  3. 3. A Detailed Study on Thomas Cook India Page | 3 Chapter - 1  History and Background of the Company: On July 5, 1841, young Thomas Cook arranged an 11-mile train journey priced at merely 1 shilling, for a motley group of 570 passengers from Leicester to Loughborough. And this marked the beginning of a chapter in travel history. He went on to introduce a railway tour of Europe. But it wasn't until the early 1860s that he began the travel firm, Thomas Cook & Son, which included tours of the USA. The Company also started operations for military transport and postal services for England and Egypt during the 1880s. Thomas Cook has widely been acclaimed as the founder of world tourism, and in addition to the world’s first package tour in 1841, Thomas Cook introduced a number of customer empowering innovations that we take for granted today: pre-paid hotel coupons (in 1868), holiday brochures (in 1858) and travellers cheques (in 1874). The world got around and by the early 1900s, the who's who of the era - kings, politicians, bishops and professors - patronised Thomas Cook's travel itinerary. As the years passed by, the Company introduced the world to a whole new concept of leisure and business travel. Driving innovation in the business, it connected continents and presented the people an
  4. 4. A Detailed Study on Thomas Cook India Page | 4 economic and state mode of travel across them. In 1881, Thomas Cook started its India operations, with its first office being set up in Mumbai. As it expanded its horizons across the subcontinent, the Company came to be known as Thomas Cook Overseas Ltd. And on 21st October 1978, it was christened Thomas Cook (India) Ltd, only to make its first public issue in February 1983. In the year 2000, the Group commenced its operations in Mauritius and also acquired the Sri Lanka business from Thomas Cook Overseas Ltd, UK. In 2006, Thomas Cook (India) Limited acquired LKP Forex Limited and Travel Corporation (India) Pvt. Ltd. (TCI). In May 2012, Thomas Cook Group plc, UK (the erstwhile parent) sold its investment in Thomas Cook (India) Limited (TCIL) to Fairbridge Capital (Mauritius) Limited (Fairbridge). Fairbridge made an open offer to the non-promoters and post August 14, 2012, TCIL is part of Fairfax Group, Canada. 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 232 locations (including 23 airport counters) in 92 cities across India, Mauritius & Sri Lanka and is supported by a strong partner network of 116 Gold Circle Partners and 112 Preferred Sales Agents in over 130 cities across India. ICRA upgraded the long term rating of Thomas Cook (India) Limited’s non-convertible debenture programme to ‘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 assigned a rating of ‘ICRA AA-/Stable’ to 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
  5. 5. A Detailed Study on Thomas Cook India Page | 5 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”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 financial services holding company based in Canada with a global presence in insurance and reinsurance, as well as joint ventures 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, 2014, Fairfax increased book value per share at a compounded annual growth rate of 21.1% since its inception with a corresponding compounded annual increase in share price 19.8% and had over US $36 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 66.80% on a fully diluted basis of the Quess Corp Limited (formerly IKYA Human Capital Solutions Limited), a provider of specialised Human Resource related 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)
  6. 6. A Detailed Study on Thomas Cook India Page | 6 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 43 offices across 24 cities, as well as operations in North America, the Middle East and South East Asia. As of November 30, 2015, it employed over 118,000 employees.For further details on Quess Corp Ltd. please visit: www.quesscorp.com About Sterling Holiday Resorts (India) 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 1767 rooms spread across a network of 24 resorts in 21 scenic holiday destinations in India. In pursuance of the Order of Hon’ble High Court, Bombay, dated 2nd July, 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 time share and resort business.
  7. 7. A Detailed Study on Thomas Cook India Page | 7 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 Chapter – 2  Area of business & product profile :  HOLIDAYS – 1. International Holidays a) Europe Packages b) Dubai Packages c) Malaysia Packages d) Thailand Packages e) Singapore Packages f) Mauritius Packages g) Maldives Packages h) Maldives Honeymoon Packages i) Mauritius Honeymoon Packages j) Singapore Honeymoon Packages k) Switzerland Honeymoon Packages 2. India, Nepal ,Bhutan and Srilanka Holidays a) Andaman Packages b) Goa Packages c) Kerala Packages
  8. 8. A Detailed Study on Thomas Cook India Page | 8 d) Himachal Packages e) Kashmir Packages f) Srilanka Packages g) Uttarakhand Packages h) Kerala Honeymoon Packages i) Andaman Honeymoon Packages j) Weekend Getaways Mumbai Packages k) Weekend Getaways Delhi Packages 3. India Long Weekend Holidays 4. India Luxury Hotels 5. Honeymoon packages 6. Weekend Packages 7. Cruise Holidays 8. Holidays With a Difference 9. Senior Citizen Holidays 10.Only Stay Holidays  Foreign Exchange : 1. Buy Foreign Exchange 2. Reload Borderless prepaid card 3. One Currency Card 4. Send Money Abroad 5. Self Foreign Exchange 6. Student Travel 7. Education Forex 8. Receive Money Via Money Gram 9. Receive Money Via Xpress Money  Flights  Hotels  Gift Cards  Visa& Insurance 1. Visa and Payments 2. Overseas Travel Insurance 3. Student Insurance  Offers 1. Holiday Offers 2. Flight Offers 3. Hotel Offers
  9. 9. A Detailed Study on Thomas Cook India Page | 9 4. ICICI Bank Offers 5. STATE Bank Offers 6. AXIS Bank Offers 7. HDFC Bank Offers 8. RBL Bank Offers 9. KOTAK Bank Offers 10. HSBC Card Offers 11. Standard Charters Bank Offers Chapter – 3  Management of The Company: Board of directors (CEO)Chris Mottershead 
  10. 10. A Detailed Study on Thomas Cook India Page | 10 Chairman and Managing Director Mr. Madhavan Menon  Non-Executive Director Mr. Chandran Ratnaswami  Non-Executive Director Mr. Harsha Raghavan  Non Executive Independent Director Mrs. Kishori Udeshi  Non Executive Independent Director Mr. Pravir Kumar Vohra  Additional Non Executive Independent Director Mr. Nilesh Vikamsey
  11. 11. A Detailed Study on Thomas Cook India Page | 11  Additional Non Executive Independent Director Mr. Sunil Mathu Chairman and Managing DirectorMr. Madhavan Menon Madhavan Menon, (B.A. (Business), George Washington University, USA., MBA, Finance & International Business, George Washington University, USA), born on 12 February 1955, was appointed as an Additional and Executive Director-Foreign Exchange for 3 years with effect from 1st May, 2000 , re-appointed for a further period of 3 years w.e.f. 1st May 2003. He was appointed as the Managing Director of Thomas Cook (India) Limited (TCIL) with effect from 27th April 2006. He has a total experience of over 33 years. His previous assignment prior to joining TCIL was as Chief Operations & Administrative Officer of Birla Sunlife Asset Management Co. (AMC) Ltd, Citi Bank and ANZ Grindlays Bank. His expertise spans over Banking, Finance and Travel-related Foreign Exchange Management. His responsibilities in TCIL include achievement of planned revenues through business development and growth
  12. 12. A Detailed Study on Thomas Cook India Page | 12 Awards: Thomas Cook (India) Ltd; India’s leading integrated travel and travel related financial services company, was honored as the “Favorite Tour Operator” at the 5th Annual Condé Nast Traveller India Readers' Travel Awards 2015 for the fifth time in a row. The event was graced by luminaries from the tourism and hospitality industry, including Chief Guest, Shri Vinod Zutshi, Secretary, Ministry of Tourism, Government of India. The Condé Nast Traveller Readers’ Travel Awards are globally recognized as a benchmark for excellence and acknowledged as one of the most prestigious in the industry. The awards honoring the best in travel, tourism and hospitality, are rendered even more meaningful as the selection is by the discerning and influential readers of Condé Nast Traveller.  Thomas Cook (India) Limited has been the recipient of the following Highly prestigious awards and accolades during the period 1st January, 2014 to 31st March, 2015:  Voted as Favourite Outbound Tour Operator at the Outlook Traveller
  13. 13. A Detailed Study on Thomas Cook India Page | 13 Awards 2015  IATA accreditation as "Top 10 South Asia IATA Authorized Training Centers 2015  Best Tour Operator - Outbound at the CNBC AWAAZ Travel Awards 2014 & 2013 and Best Company providing Foreign Exchange at the CNBC AWAAZ Travel Awards 2014  ''India''s Leading Tour Operator'' for the year 2014, at the 21st Annual World Travel Awards Asia & Australasia 2014  Favourite Tour Operator at the Conde Nast Traveller Readers'' Travel Awards 2014  Consumer Superbrand 2013-14
  14. 14. A Detailed Study on Thomas Cook India Page | 14 Chapter - 4 BALANCE SHEET
  15. 15. A Detailed Study on Thomas Cook India Page | 15
  16. 16. A Detailed Study on Thomas Cook India Page | 16
  17. 17. A Detailed Study on Thomas Cook India Page | 17
  18. 18. A Detailed Study on Thomas Cook India Page | 18
  19. 19. A Detailed Study on Thomas Cook India Page | 19 Chapter –5 The Thomas cook have there are 233 plus braches in National wide. The head offices of Thomas cook India is situated at Mumbai. The addresses of the Head offices are below- 1. Contact Information of Investor Grievance official: Designated official of the Company for Investor Grievance: Amit Parekh Email Id: sharedept@in.thomascook.com Tel. No.: 0091-22-6160 3333/ 0091-22-6609 1700 Correspondence Address: Thomas Cook Building, Secretarial & Legal Department, Dr. D. N. Road, Fort, Mumbai – 400 001 2. Contact information of the Debenture Trustee: IDBI Trusteeship Services Limited Asian Building, Ground Floor 17, R. Kamani Marg, Ballard Estate Mumbai – 400 001 Contact Person: Sarita Iyer
  20. 20. A Detailed Study on Thomas Cook India Page | 20 Tel: +91-22-4080 7005 Fax: +91-22-6631 1776 E-mail: sarita.iyer@idbitrustee.com 3. Contact Information of Registrar & Share Transfer Agent: TSR Darashaw Limited 6-10, Haji Moosa Patrawala Industrial Estate, Near Famous Studio, 20, Dr. E Moses Road, Mahalakshmi, Mumbai 400 011 Tel: +91 22 6656 8484 Fax: +91 22 6656 8494 Email Id: csg-unit@tsrdarashaw.com
  21. 21. A Detailed Study on Thomas Cook India Page | 21 West Bengal In West Bengal the branches Of Thomas cook is mainly at Kolkata and the address are below - Lake Gardens ,Kolkata -Thomas Cook (india) Ltd., 378 Lake Gardens, 1st Floor, Police Station Lake, Kolkata West Bengal 700045 , Phone (033) 64542158, 64542159, Mobile. Shakespeare sarani, Kolkata-Thomas Cook (india) Ltd, 19b, 1st Floor, Shakespeare Sarani Kolkata West Bengal 700071 , Phone (033) 66526241/45/31, Mobile. Saltlake city , Kolkata -Thomas Cook (india) Ltd., Al-2, Saltlake City, Sector Ii, Kolkata West Bengal 700091 , Phone (033) 40006464, Mobile. Lake Town ,Kolkata - Thomas Cook (india)ltd., 238 Lake Town, Block B, Kolkata West Bengal 700089 , Phone (033) 64500699, Mobile. Saltlake ,Kolkata - Thomas Cook (india) Ltd, Sdf Buliding, Module 304, Block Ep And Gp, Sector V, Bidhan Nagar, Salt Lake Kolkata Kolkata West Bengal 700091 , Phone 033 - 66526214, 66526206, 66526209, Mobile.
  22. 22. A Detailed Study on Thomas Cook India Page | 22 Chapter- 6  Future Plans Of Thomas Cook in India : The competitor of Thomas cookis Cox & Kings, Make my trip,Yatra.com Chris Mottershead reveals his plans for Thomas Cook There are few that would deny 2015 was a challenging year to become the UK and Ireland managing director of a major holiday firm. How Chris Mottershead is planning to take Thomas Cook to the next level Especially when that firm happened to be Thomas Cook; a company that spent much of last year trying to deal with its own issues – the aftermath of Harriet Green’s departure and the inquest into the tragic
  23. 23. A Detailed Study on Thomas Cook India Page | 23 deaths of Bobby and Christi Shepherd, to name but a few – not to mention the many global crises that rocked not only the travel industry but the world at large. For Chris Mottershead however, amid the many varied challenges, 2015 was also a year of opportunity. In October he was appointed to the top UK and Ireland job at Cook, bringing with him his 10 years of experience at Tui, and nine years at Airtours – a company which he helped lead through its glory days in the 1990s, when it dominated the market as one of the largest travel businesses in the UK. “We have to be flexible and adapt. If the customer wants to go to certain destinations, we have to be able to go to it.” And he is a breath of fresh air to Cook. Unlike his predecessor Salman Syed, he has a travel background, but anyone thinking this might constrain his vision or make him more traditional in his approach is likely to be pleasantly surprised. Mottershead is clearly keen for change, and he’s excited about it. He’s also not afraid to create controversy. On the day we meet, Mottershead has just confirmed he will be “reviewing” Cook’s third-party supplier list, with plans to make further cuts after the travel giant dropped both Belleair Holidays and Balkan Holidays in September. Further afield There are other parts of the business that have also attracted Mottershead’s attention, including the destinations within Cook’s programme. Last year the travel giant expanded its US routes, featuring destinations such as Las Vegas, New York, Boston and Miami. It was a significant change for the company that had traditionally specialised in short-haul package breaks. But Mottershead says Cook has seen “strong growth” in its long-haul offering, and could look to boost its flights to the US, having already added Gatwick-Orlando flights which will begin on May 21. He admits the new programme has transformed the company’s traditional business model. “We have a dual role at the moment,” Mottershead says. “As well as our holidays, there’s an emphasis on other holiday companies as well. We’re doing a lot of seat-only. We can tap into [our US flights] for the role of creating holidays [as a whole package], but the primary role is seat-only,” he stresses.
  24. 24. A Detailed Study on Thomas Cook India Page | 24 Mottershead is also not shy about tapping into the gap left by Virgin Holidays’ withdrawal from the trade. “We see it as a real opportunity,” he admits. “We were already the biggest long-haul operator in Manchester, but in Gatwick, we hadn’t had as big a long-haul market. There was an opportunity [to fly to Orlando] and it was an easy move because we can now use [more] retailers.” Is there a chance that Cook could look to emulate the model of Tui in adding many more long-haul destinations? “We don’t Believe in copying,” Mottershead smiles. “We’ll do it on our own basis. We’ve done the US and others haven’t, but that’s not to say we wouldn’t fly somewhere like Asia in the future. “We have to be flexible and adapt. If the customer wants to go to certain destinations, we have to be able to offer them. You should always ride the crest of a wave.” Terrorism fallout Offering more alternative destinations in its programme has proved even more important following the tragic terrorism events of last year. Tunisia in particular hit the company hard. “We were the largest operator to Tunisia from the UK, and we have had to adapt,” Mottershead concedes. “[But] we have to move forward.” Cook has said it hopes to return to the North African country by April 30, providing that the FCO lifts its advice. Mottershead admits, however, he is not convinced Tunisia will be back on sale by then. “I’m not sure that it will be open [for UK tourists] by then. If it is, we will need to have had a period of time to push and sell it… [Ideally] I would hope to see the country open by February,” he adds, “but I’m not convinced it will be.” “One of our modern day strengths is that the government and industry both understand each other; it’s not just an unconsidered view” The closure of Sharm el Sheikh airport has also presented challenges, with the company currently stating that it will reinstate flights to the Red Sea resort from February 10. Mottershead stresses though that the government has been working “in tandem” with the industry. “One of our modern day strengths is that the government and industry both understand each other; it’s not just an unconsidered view. “Even the prime minister is understanding of what the tour operators and
  25. 25. A Detailed Study on Thomas Cook India Page | 25 customers have to go through when decisions like this are made,” he adds, revealing that David Cameron wrote to Cook to thank it for its response during the Sharm el Sheikh repatriation crisis. “The PM personally thanked us as a business; it was great recognition of the industry.” Cook might have spent much of 2015 dealing with crises abroad, but there have also been issues at home. A particular gripe for a number of third party agents is its call-centre, with the Facebook group Travel Gossip often filled with complaints about long wait times. Mottershead insists that the problems only arise during emergencies, such as with Tunisia or Sharm last year, but he does reveal that one of Cook’s largest call-centres will receive significant investment in 2016. “We will be investing several million in upgrading our technology in our Falkirk call-centre to modernise it. The team is doing the best they can, but we do need to upgrade the technology and there will be a major overhaul of that. “I don’t think there is an issue in the call centre,” he insists. “It’s when specific things happen, [but] we want to be able to grow and do that in the right way, so we will be investing.” Cook’s high street has however told a stronger story. Where just four years ago the company was busy cutting shop numbers, Mottershead says he is now keen to open up new stores. He admits leases will still be evaluated as they come up for renewal, and stores could still be shut, but stresses this will be decided on location and performance rather than a definite closure strategy. “The high street is our strength, and I embrace it,” he says. “That is a clear strategy for us; we might even want to open some new shops. We will continually review stores when the leases come up, but we’re not closing shops for the sake of closing shops; I don’t see the point in that because otherwise we’re denying the sale of our own holidays.” Branding clearly remains an important tool for Mottershead. He is adamant about keeping the Co-op brand distinct from Cook and is passionate about rejuvenating the Airtours brand. “By summer 2017, we want to do something a bit different – a refresh of it.” He says it will be similar to the revamp that Cook gave to its Club 18-30 offering, which he admits is not yet complete. “We’ll have more to say on that later this year,” he adds. “We haven’t maximised that opportunity over the last couple of years.” Thomas Cook is likely to look back on 2015 as a significant year for several negative reasons, but Mottershead and his team certainly seem to be gearing up to ensure 2016 is remembered more positively
  26. 26. A Detailed Study on Thomas Cook India Page | 26 Competitors-The competitor of Thomas cookis Cox & Kings, Make my trip, Yatra.com. WEBBLIOGRAPHY http://www.thomascook.in/ http://www.thomascook.in/pages/indus/tcportal/aboutus.htm

×