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Thomas Cook reports increase in holiday bookings for Egypt and Turkey

Egypt Thos CookHoliday company Thomas Cook says holiday destinations in Egypt and Turkey are seeing a slight revival in their fortunes. The UK based firm reported the two nations saw a two per cent rise in the number of holiday bookings for the forthcoming winter season when compared to last year.

Commenting on the renaissance of Egypt and Turkey as holiday destinations, Thomas Cook CEO Peter Fankhauser attributed it to savvy customers recognising superior quality at reasonable prices. The surge in reservations for these two nations has boosted Thomas Cook’s overall reservations by three per cent.

The increase shows the countries are starting to bounce back from the adverse effects of series of a terrorist attacks in the past couple of years. Among these were the 2015 bombing of a Russia bound flight over Egypt’s Sinai Desert and a massacre at an Istanbul nightclub last New Year’s Eve.

Thomas Cook notes that Spain is still its biggest seller for holiday packages, but expects the cost of these to rise next year. The firm blames this on the low value of sterling while Mr Fankhauser claims hoteliers in Spain are jacking up prices in response to high demand for rooms.

In a sign Thomas Cook is confident demand for holidays in Egypt and Turkey will keep rising, the firm has announced a move into hotel ownership. The company has bought a share in German hotel management firm Aldiana from LMEY Investments with a view to setting up hotels and resorts in Egypt and Turkey.

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