TRAVEL HOUSE TO BUY
Thomson-owned Travel House is expected to buy a Midlands-based agency chain this week after managing director Martin Morgan was given the go ahead to keep expanding. Thomson has now axed its policy of buying independents.
PREUSSAG GAINS SHARE
Preussag has confirmed it has become the majority shareholder of Thomas Cook after increasing its interest from 24.9% to 50.1%. West LB, the former majority shareholder, now has 27.9% with Carlson holding the remaining 22%.
BALEARIC TAX TALKS
Tour operators will hold talks with Spain’s tourism minister Celesti Alomar at the end of the month to discuss controversial plans to introduce an environmental tax for visitors to the Balearic Islands. No figure for the tax has been set although it is believed it could add between 1% and 3% to a package holiday. The Federation of Tour Operators and ABTA have both objected to the tax.
CO-OP ADDS NINE SHOPS
Co-op Travelcare has added nine branches to its Essex network after signing a deal to manage the retail travel operation of Colchester and East Essex Co-operative Society. Under the deal, Colchester and East Essex Co-op will retain ownership of the business and responsibility for staff and premises, while Co-op Travelcare takes charge of operational and marketing aspects of the branches with a combined turnover of £8m. All branches will be branded as Co-op Travelcare. The deal brings the total of managed branches by Co-op Travelcare to 280.