Fosun Tourism Group, the Shanghai-based company that bought Thomas Cook’s trademark following its dramatic collapse in September, will debut the platform in the first half of next year, according to a person familiar with the plans.
Tapping Thomas Cook’s former glory may prove challenging after its bankruptcy led to 9,000 job losses in the U.K. and left 150,000 tourists stuck overseas, with the holiday plans of thousands more ruined. Fosun, which owns resort chain Club Med SAS, had acquired 18% of Thomas Cook but balked at the cost of funding its rescue.
Founded in the 1840s as an operator of train trips through the English midlands, Thomas Cook’s demise raised questions about the viability of the packaged tour model as tourists pivot more toward individual and self-directed travel. Making the re-brand work could be tough for Fosun’s tourism arm, which has lost more than a third of its market value since listing in Hong Kong about a year ago.
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