The Hindu Business Line : Thomas Cook, Japan’s JTB sign up for corporate travel

Mumbai, Dec. 13 Thomas Cook Ltd has signed an MoU with Japan-based travel solutions company JTB Corp. The three-year renewable contract would allow the company to access the JTB Corp network across 30 countries along with affiliates spreading over 800 offices, enabling it to grow its corporate travel business.

At a press conference, Mr Udayan Bose, Chairman, Thomas Cook, said: “There is a possibility of this collaboration turning into a joint venture in the future. The year 2007 was designated as India-Japan Tourism Exchange Year. Both countries hope to increase the number of visitors between the two countries to approximately 3-lakh by 2010, which will be nearly double that of 2005”.

Mr Madhavan Menon, Managing Director, Thomas Cook, said: “With business travel growing at 20 per cent, this alliance will provide further impetus to our corporate travel business.”

Ready platform

As for JTB Corp, the alliance would provide a ready platform to enter the Indian market.

For Thomas Cook, it would provide a platform of co-operation across a wide range of travel activities including leisure outbound, corporate travel and inbound travel to India, and benefit both the companies and countries, Mr Bose added.

Besides, JTB Corp has a joint venture in China which is expected to give Thomas Cook access into the Chinese market as well.

However, the travel cooperation arrangements would be for inbound, outbound and corporate travel across markets such as Japan, China, South-East Asia, Australia, New Zealand, Europe and America.

MICE segment

At the same time Thomas Cook is looking to tap into the MICE (Meetings, Incentives, Conferences and Exhibitions) segment.

“MICE is a new area that has been growing by 200 per cent. That is a business that we would like to grow and don’t mind more acquisitions of companies in this space,” said Mr Bose.

Besides, Thomas Cook is in the process of strengthening its online business and marketing its online site more actively in the future.

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