Thomas Cook (India), the integrated travel and travel related financial services company, announced its acquisition of Luxe Asia, a destination management company based in Sri Lanka, through its wholly owned subsidiary Thomas Cook Lanka. The company will be operated as an independent entity.
Commenting on the acquisition, Madhavan Menon, managing director, Thomas Cook (India) said, ''Our acquisition of Luxe Asia reiterates delivery of our strategic intent of establishing a global destination management presence. Luxe Asia will continue to focus on its core domain of inbound tourism across key global source markets.''
He concluded by stating, ''Luxe Asia is a great fit to our portfolio and we aim to draw on the strong synergies with our Outbound, Inbound and MICE business at Thomas Cook India.''
Shares of the company gained Rs 2.4, or 1.07%, to settle at Rs 227. The total volume of shares traded was 17,259 at the BSE (Thursday).