Greek bookings rise as Thomas Cook reports solid start to 2017

Growth in bookings for holidays to Greece and Spain, as well as many long-haul destinations, has seen Thomas Cook record strong revenues for the start of 2017.

Revenue rose by 1% to £1.6 billion during the final quarter of 2016, with average selling prices also up by 2% in the same period.

Gross margin increased 10 basis points to 22% during the three months to the end of December, which Thomas Cook said reflected well on its focus on its own products and selected partner hotels.

Customer satisfaction

With online bookings during the quarter showing an increase of 20% in the UK and 40% in Germany, the company saw its '24-hour satisfaction rating' extended to 250 hotels in long-haul destinations over the winter, indicating that customers are happy with their offerings.

Summer sales bookings are already up 9% year on year, with 31% of available packages already sold – building on the 82% of Thomas Cook’s winter packages that have already sold.

Solid performance

Thomas Cook Chief executive Peter Fankhauser described the quarterly performance as solid and in line with expectations, although he also suggested the uncertainty surrounding Brexit may influence consumer actions.

“In preparation for the summer season, we have expanded our holiday offering to Greece and a number of smaller destinations across Europe, and I'm pleased that this early action is paying off,” he added.

The company's most popular destination is now Greece, which is slowly recovering after making front page news at the height of the migrant and financial crises.

Cyprus, Bulgaria, Portugal and Croatia were also showing strong demand, partly as a result of a drop in demand for Turkish destinations following the political uncertainty that has dogged the country.

If you’re thinking of travelling abroad this year, be sure to organise your Family Travel Insurance in advance.

Date Created: 10 February 2017

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