3 October 2019 – The Swiss fund LMEY is considering the acquisition of the 50% Thomas Cook Hotel Investments (TCHI) it does not yet own. TCHI, which owns five holiday resorts in Spain, could become 100% controlled by LMEY after the British tour operator’s bankruptcy.
In 2018, Thomas Cook and LMEY created the joint venture TCHI to create a chain of resort accommodations in the Mediterranean. TCHI’s portfolio of nine properties (four in Greece in addition to the five Spanish) is estimated to be worth approximately €250 million.
In Spain, TCHI owns Casa Cook Ibiza, Sunwing Arguineguin (Canary Islands), Aldiana Andalucía and Aldiana Costa del Sol (both in Cádiz).
Original Story: Expansión – Roberto Casado
Adaptation/Translation: Richard D. K. Turner
16 May 2019 – Hosteltur
Thomas Cook has purchased the Sunwing Arguineguin Hotel in Gran Canaria through its hotel investment vehicle, Thomas Cook Hotel Investments (TCHI). The 4-star establishment, which has 252 rooms, is located around 15km from Maspalomas on the south of the island.
TCHI was created in March 2018 to help Thomas Cook accelerate its aims of managing more of its own brand hotels and investing in opportunities arising in Greece, Spain and the Mediterranean. The fund now owns 9 properties, with plans to grow its portfolio to between 10 and 15 by 2021.
Original story: Hosteltur
Translation/Summary: Carmel Drake
4 February 2019 – Hosteltur
Thomas Cook today announced that its joint venture with LMEY Investments, called Thomas Cook Hotel Investments (TCHI), has obtained a second round of financing amounting to €51 million thanks to an agreement with CaixaBank. The funds will be used to acquire hotels in Spain and the Mediterranean.
Thanks to that agreement, the joint venture’s funds to purchase hotels have increased by €91 million over the last three months, following the agreement signed with Piraeus Bank, according to reports from HostelTur news (…).
Those funds will be used to invest in opportunities that arise in Spain and the Mediterranean area. In fact, TCHI has also announced the acquisition of one 250-room hotel in the Canary Islands and another 300-room hotel in the Balearic Islands. In total, the seven hotels that the company currently owns represent assets worth €250 million and contain 2,200 rooms.
The fund has the objective of owning between 10 and 15 hotels over the next two years. A channel for more hotel acquisitions has been identified by the company and the team is focused on executing the expansion plan for the coming years.
TCHI was created in March 2018 to support the growth of the Thomas Cook’s own brand hotel portfolio as part of its strategy to take greater control over its hotel inventory and the customer experience (…).
Original story: Hosteltur
Translation: Carmel Drake