Thomas Cook India and SOTC Travel sign joint venture agreement with Tourism New Zealand

Thomas Cook (India) Limited - India's leading omnichannel travel services company and its Group Company, SOTC Travel, have signed a strategic joint-venture (JV) agreement with Tourism New Zealand that intends to boost demand to New Zealand during the destination's Winter Season - June to August. The JV agreement was signed by Gregg Wafelbakker - General Manager Asia, Tourism New Zealand, Rajeev Kale - President & Country Head, Thomas Cook (India) Limited and SD Nandakumar - President & Country Head - Holidays & Corporate Tours, SOTC Travel.

The partnership extends across key pivots of product development and strategic marketing, while leveraging Thomas Cook and SOTC Travel's domain expertise and extensive consumer base - from multi-generational families, couples, working professionals to Young India's millennials and GenZ - across India's metros, mini-metros and Tier 2 & 3 markets.

With New Zealand's winter coinciding with India's peak vacation season, the JV intends to showcase New Zealand's winter-wonderland and unique experiences to India's discerning travellers. The benefits of off-peak travel (between June to August), includes increased supply-capacity leading to better pricing and special offers, fewer crowds/queues that allow exploration of New Zealand at leisure and in a more sustainable manner.

Winter showcases New Zealand in a fascinating new light - with stunning snow-capped vistas and a diversity of exciting experiences like snowboarding, skiing, heli-hiking and trekking, together with its famed geothermal hot springs. Being the peak migration season, whale-watching adventures are aplenty; also stargazing at the renowned Dark Sky Reserve or aurora chasing the spectacular Southern Lights. For thrill seekers, New Zealand's adventure capital (Queenstown) offers skydiving, ziplining, paragliding, bungee and the world's largest human catapult! Winter in New Zealand also offers a scenic TranzAlpine train journey, a nomad safari through Lord of the Rings locations, or a breathtaking winter cruise through Milford Sound.

René de Monchy, chief executive of Tourism New Zealand said, "India is one of New Zealand's fastest-growing tourism markets, with holiday visitor numbers seeing double-digit growth and strong future potential. The travel trade has been integral in shaping holiday visitor flows and building a desire for New Zealand as a premium destination for discerning travellers. And through our high-impact marketing initiatives with Thomas Cook India and SOTC Travel, we are focused on converting this interest into increased bookings and visitor flows during traditionally quieter travel periods in New Zealand."

Rajeev Kale, President & Country Head - Holidays, MICE, Visa, Thomas Cook (India) Limited said, "New Zealand is magical in winter and with this season being India's biggest vacation period, our JV with Tourism New Zealand intends to maximise the opportunity. Fewer crowds and off-season pricing are further benefits that serve to inspire our value-seeking Indian travellers. Through our targeted campaign we aim to inspire travel-hungry Indian consumers across our segments of multi-generational families, couples, working professionals, millennials and GenZ.

Tourism New Zealand is a deeply valued partner and my team and I are excited to leverage the off-peak winter opportunity and catalyse demand - across our omnichannel network."

S.D. Nandakumar - President & Country Head - Holidays and Corporate Tours, SOTC Travel Limited, said," We are delighted to partner with Tourism New Zealand to spotlight the destination's spectacular winter experiences. Over our 75 years, we have witnessed a strong interest emerging not just from India's metros, but also regional India's tier 2 and 3 markets. And so, our pan India campaign intends to inspire Indians to discover and explore New Zealand's snow-capped landscapes, adrenalin infused experiences while delighting in its deep cultural influences."

Shares of Thomas Cook (India) Limited was last trading in BSE at Rs. 132.30 as compared to the previous close of Rs. 137.00. The total number of shares traded during the day was 26270 in over 824 trades.

The stock hit an intraday high of Rs. 138.90 and intraday low of 130.85. The net turnover during the day was Rs. 3545051.00.

Source : Equity Bulls

Keywords

ThomasCookIndia INE332A01027 SOTCTravel JVAgreement TourismNewZealand