Thomas Cook plans to spend €40 million on its managed own-brand hotels in Spain.
Ten properties will be upgraded as part of the investment.
The hotels include Casa Cook in Ibiza which will open this summer, Sunwing Arguineguin in Gran Canaria, Sunwing Fanabe in Tenerife and smartline Cala’n Bosch in Menorca, along with a further five hotels in Majorca including Sunwing Alcudia and Sentido Cala Vinas.
Cook has more than 50 hotels and 12,000 rooms across eight brands in Spain.
A refit of the former Hotel Acor in Ibiza will see the company open its first Casa Cook hotel in Spain, a five-star boutique lifestyle hotel just outside San Antonio.
Cook’s hotel investment fund, established in a joint venture with hotel development firm LMEY, will further invest in the property over the winter to build a new suites-only wing, a second restaurant and a 50-metre swimming pool.
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The hotel brand, launched three years ago, will expand to Majorca next year with the refurbishment of the former Hilton Sa Torre.
The 252-room Sunwing Arguineguin in Gran Canaria is midway through a revamp of all of its rooms, bars and restaurants, as well as investment in sustainable technology including solar panels.
A new a-la-carte restaurant and bar will be completed next year.
Accommodation and dining facilities at the 241-room Sunwing Fanabe hotel in Tenerife will also be refurbished.
A hotel investment fund launched in 2018 with partner LMEY has almost doubled in size in the first year to encompass nine properties including one of Thomas Cook’s most popular hotels, Casa Cook Kos, Greece.
The fund has secured €51 million in funding from CaixaBank, in addition to €40 million from Piraeus Bank.
Cook reported half-year losses of almost £1.5billion in May and has warned of more cuts this year.
In Febriary it announced it was putting its airline up for sale.
Cook has has said repeatedly that it would be focusing on growing its own-brand hotel portfolio.
Group chief executive Peter Fankhauser said: “In a competitive market, we’re proud to be working with our valued hotel partners to upgrade and modernise our portfolio to help keep Spain at the top of the list for the next generation of holidaymakers.”