Sterling Holiday Resorts (the leisure hotel arm Thomas Cook India) plans to add 14 new resorts by 2025-26, Vikram Lalvani, Sterling’s CEO, said on Wednesday during the company earnings call.
The brand has 61 properties currently operating in India.
Lalvani explained that the hotel’s average room rate has increased. Pre-Covid, Sterling’s average room rates ranged from INR 3,000–3,500 ($35–40). The figure is now INR 6,200 (US$72).
Lalvani stated that “we are moving the needle to the upper midscale, upper upscale and moving away just from the midscale segment which we have.”
Thomas Cook’s travel segment revenues increased by 15 percent year-over-year.
Thomas Cook’s leisure business grew by 20 percent during the year. In the domestic market, Thomas Cook operated a significant volume of group and customized products for Mahakumbh Festival. The group also operated tours in Japan during the Cherry Blossom Season.
Mahesh Iyer told reporters that the results of the leisure segment in the fourth quarter were higher than pre-pandemic.
Thomas Cook has also increased its experiential travel options. In the past year, Thomas Cook launched
