Thomas Cook Tourists Turn to Bulgaria, Croatia Amid Terror Spree

Maxine SotoFeb 11, 2017

However, the group did maintain that increased demand for its Greece holidays mitigated any fall in Turkey's popularity amid terror attacks.

In the United Kingdom, winter bookings are 5% higher, with prices 1% lower, while it said average selling prices are 9% higher for the summer.

It said bookings for holidays in Greece were now up by more than 40%, while Spain had also done well.

Thomas Cook has put up package holiday prices by 9% and sharply increased its capacity in Greece as it faces intense competition and higher hotel costs in popular Spanish island resorts.

While summer sales in northern and continental Europe are well ahead of past year, United Kingdom demand may be moderating, with bookings up 1 percent and package holiday reservations "slightly behind".

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Even though the company saw a loss, the firm has said revenue climbed one per cent to £1.6bn.

Average selling prices across holidays and flights are up 2%.

Demand for destinations such as Cyprus, Bulgaria, Portugal and Croatia is also strong, according to the group.

Thomas Cook has a total of 6 million customers in the United Kingdom, it said there was a higher demand for Spanish holidays previous year, fewer tourists visited places such as Turkey, Egypt and Tunisia after a number of terror attacks.

Thomas Cook typically posts a loss during its first half ahead of the peak demand season coinciding with the northern hemisphere summer season.

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Demand for bookings to Greece were up 40 per cent compared to a year ago.

He said there was no sign that Britons had generally been put off foreign holidays by the weakness of the pound, though this had seen a drop in demand for trips to the US.

Analyst Laith Khalaf at Hargreaves Lansdown said the broadly flat like-for-like revenues and losses probably represented a small victory against the unfriendly backdrop.

Shares in the firm were down by nearly six per cent this morning.

Afterwards, a Thomas Cook spokesman said: "While the board is pleased that the resolutions have received shareholder approval, it also acknowledges the views of the shareholders who voted against".

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