Thomas Cook (India) Ltd is the leading integrated travel and travel related financial services company in the country offering a broad spectrum of services that include Foreign Exchange, Corporate Travel, MICE, Leisure Travel, Insurance, Visa & Passport services and E-Business.
In 1881, Thomas Cook started its India operations, with its first office being set up in Mumbai. As it expanded its horizons across the subcontinent, the Company came to be known as Thomas Cook Overseas Ltd. And on 21st October 1978, it was christened Thomas Cook (India) Ltd, only to make its first public issue in February 1983. In the year 2000, the Group commenced its operations in Mauritius and also acquired the Sri Lanka business from Thomas Cook Overseas Ltd, UK. In 2006, Thomas Cook (India) Limited acquired LKP Forex Limited and Travel Corporation (India) Pvt. Ltd. (TCI). In May 2012, Thomas Cook Group plc, UK (the erstwhile parent) sold its investment in Thomas Cook (India) Limited (TCIL) to Fairbridge Capital (Mauritius) Limited (Fairbridge). Fairbridge made an open offer to the non-promoters and post August 14, 2012, TCIL is part of Fairfax Group, Canada. In Feb 2013, Thomas Cook (India) Ltd acquired 74% in Ikya Human Solutions. In March 2014, Thomas Cook (India) Ltd acquired a 23.23% interest in Sterling Holiday Resorts India Ltd.
TCILs footprint currently extends to over 235 locations (including 15 airport counters) in 99 cities across India, Mauritius & Sri Lanka and is supported by a strong partner network of 114 Gold Circle Partners and 165 Preferred Sales Agents in over 136 cities across India.
Thomas Cook (India) Limited is promoted by Fairfax Financial Holdings Limited through its wholly-owned subsidiary, Fairbridge Capital (Mauritius) Limited. Fairbridge is responsible for the execution of acquisition and investment opportunities in the Indian subcontinent on behalf of the Fairfax family of companies.
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BUSINESS OF THE COMPANY
Thomas Cook (India) Limited offers a range of products and services including Outbound travel, Inbound travel, Domestic travel, MICE, Corporate Travel Management, Foreign Exchange, Travel Insurance, Visa & Passport Services and Centre of Learning (travel & tourism education & training vertical). Customers of the company
CUSTOMERS OF THE COMPANY
The customers of the company are all those who wants- To Purchase and Sale foreign exchange in accordance with RBI rules and regulations To buy Foreign Currency Bank Notes in all major currencies To buy Travellers Cheques in all major currencies. To buy Pre-Paid Cards To buy Foreign Currency Drafts To avail Wire Transfers service To avail Cash Advances against international credit cards. To buy Leisure Travel, Inbound and Outbound packages To buy Travel Insurance To avail services like Visa and Passport To buy Domestic and International Ticket
AWARDS AND RECOGNITIONS
2012-2013
Centre of Learning, the education and training vertical of Thomas Cook (India) Limited, has been honored with the prestigious South Asia Top Performing IATA Authorized Training Center 2013 certification, by the highly reputed International Air Transport Association (IATA), for the second consecutive year. Thomas Cook (India) Ltd was also selected Retailer of the Year Leisure & Holidays by ET NOW 2013 Thomas Cook (India) Ltd has been honored with The Most Trusted Brand in Services award by The Brand Trust Report, India study 2012 and voted Favourite IILM-AHL IILM Academy Of Higher Learning Page 3
Specialist Tour Operator at the Cond Nast Traveller Readers' Travel Awards 2011 & 2012 Thomas Cook (India) Ltd.s leisure travel inbound has bagged 3 prestigious awards Special award for endeavors in launching New Tourism Products & Exemplary Performance, Tour Operator Promoting Niche segment other than Adventure & MICE and Award of Excellence: Best Tourism Promotion Publicity Material.
2011-2012
Recognized as a "Superbrand" 2012-2013 by the consumers for excellence in travel services . Travel Corporation (India) Limited (TCI) won 'Best Inbound Operator' at the Travel Agents Association of India Travel Awards 2012 Travel Corporation (India) Ltd (TCI), a 100% subsidiary of Thomas Cook (India) Ltd was awarded the third position for 'Outstanding Performance' as an 'Inbound Tour Operator Category-I' by Smt. Pratibha Patil.
2010-2011
TCIL won the Award for Continuous Innovation in HR Strategy at Work, and the Award for Innovation in Career Development, 5th Employer Branding Awards 2010- 2011, Employer Branding Institute.
2009-2010
TCIL bagged the 'Best Tour Operator' by CNBC Awaaz Travel Awards 2009 for the second time in a row. They won 'Best Forex Company in India' by CNBC Awaaz Travel Awards 2009.
2008-2009
During this period TCIL received 3 awards: IILM-AHL IILM Academy Of Higher Learning Page 4
Best Travel Agency - India for the year 2008 by TTG Asia - Part of Pacific Asia Travel Association (PATA).'Best Tour Operator' by CNBC Awaaz in 2008.Best Outbound Tour Operator in the 4th Hospitality India & Explore the World Annual International Awards 2008.
2005-2006
TCIL were the Best Inbound & Outbound Tour Operator Awarded by Hon'ble Minister for Tourism & Culture, Ms. Ambika Soni. They also received the ABCI Award for Best Annual Report & Newsletter.
2004-2005
This period saw many award functions. TCIL won: Best Travel Agency Award, 2005, by The Pacific Asia Travel Writers Association (PATWA)PATA Gold Award, 2005, by Pacific Asia Travel Association (PATA) for Marketing in the category of Industry Tour Operator / Travel Agent. Best Technology Award, 2005 by Galileo Express Travel & Tourism Award. Excellence in Financial Reporting in Service Sector; by The Institute of Chartered Accountants of India. Malaysia Airlines Gold Award presented to Thomas Cook (I) Ltd. for Outstanding Sales Achievement 2004-05. Qantas High Flyer Award 2004-05 to Thomas Cook (India) Ltd. Award Appreciation Thomas Cook (I) Ltd. 2004-05 by Sri Lankan Airlines.
2003-2004
In this year Thomas cook made winning their habit. The trophy rack included: Best Travel Agency- India, by TTG Asia, part of Pacific Asia Travel Association (PATA) program. (Won the award consecutively for the last 5 years). Galileo Express Travel & Tourism Award for "Most Innovative Marketing Campaign by a Tour Operator ."Incredible India National Tourism Award 2003-04 by Government of India for outstanding performance as Tour operator / Travel agents. Dun & Bradsheet Award, among 500 top Companies for corporate performance. IILM-AHL IILM Academy Of Higher Learning Page 5
Malaysia Airlines Gold Award presented to Thomas Cook (India) Ltd. Mumbai, for Outstanding Sales Achievement 2003-04. Golden Peacock Award for Excellence in Corporate Governance 2003 (Winner), by Institute of Director for Ethical Business Practices. Award for Outstanding Contribution to Passenger Sales- 2002-03, by Air India.
2001-2002
Yet another year, yet another list: Golden Peacock Award 2002 (Runners up). Award for Excellence in 2001, by Lufthansa. Gold Award for Outstanding Sales Achievement 2002, presented by Malaysia Airlines. Outstanding Performance Award, in recognition of outstanding contribution for the year 2001-02, by Jet Airways. Special Achievement Award 2002 awarded to Thomas Cook Insurance Services.Ltd. in recognition of outstanding performance and support during the year 2001- 02 by Tata AIG General Insurance Company Limited. Top Passenger Agent Award 2001-02, by Singapore Airlines.
2000-2001
Thomas Cook won the Award for Outstanding Performance in Passenger Sales Western India (2000-01) by Air India.
COLLABORATIONS OF THE COMPANY
Year Collaborations 1978 Conversion of the branch office into a private limited company 2005 100% acquisition by Dubai Financial (LLC) of TCIM 2006 100% acquisition of Travel Corporation (India) Limited by Thomas Cook (I) Ltd. 2007 Merger of LKP Forex with Thomas Cook (India) Limited 2008 Acquisition of 74.9% stake by Thomas Cook UK and TCIM in Thomas Cook (I) Ltd. IILM-AHL IILM Academy Of Higher Learning Page 6
2011 Signed an agreement for marketing and distribution of borderless prepaid multicurrency foreign exchange cards. Incorporation of TC Visa Services (India) Limited in Maharashtra, a wholly Owned Subsidiary of Travel Corporation (India) Limited, which is a 100% Subsidiary of the Company. 2012 Acquisition of 76.81% stake by Fairbridge in Thomas Cook (India) Limited from Thomas Cook UK and TCIM and subsequent announcement of open offer Incorporation of Thomas Cook Lanka (Private) Limited, a 100% Subsidiary of the Company Launch of Borderless Prepaid Multicurrency Foreign Exchange Card
2013 Acquisition of 74.85% stake by Thomas Cook (India) Limited in IKYA Human Capital Solutions, a human resources solutions company.
SWOT ANALYSIS
Strengths A leading position Brand image A high service quality Diversified travel offerings Best offers strategy A multi-channel strategy A competent team Weakness Poor work atmosphere Lack of proper functioning of CRM practices Lack of proper training to new employees
Opportunities Customer base can be enlarged CRM practices can be implemented efficiently Advances in technology and cheaper access to internet creates demand for online bookings facilities Threats Competition is growing day by day Recent large losses Economic down-turn caused by a lack of consumer confidence
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ORGANIZATIONAL STRUCTURE
BOARD OF DIRECTORS
MANAGING DIRECTOR - MADHAVAN MENON
EXECUTIVE DIRECTOR FINANCE VINAYAK PUROHIT PRESIDENT & HEAD OF HUMAN RESOURCES PRASANTH NAIR PRESIDENT & HEAD OF FOREIGN EXCHANGE PARAG MEHTA PRESIDENT & HEAD OF LEGAL & COMPANY SECRETARY RAMBHAU KENKARET
PRESIDENT & HEAD OF TRAVEL BUSINESSES NALINI GUPTA PRESIDENT & HEAD OF E-COMMERCE/ INTERNET SERVICES AMITABH PANDEY IILM-AHL IILM Academy Of Higher Learning Page 8
DEPARTMENTAL STRUCTURE
VICE PRESIDENT ASSISTANT VICE PRESIDENT MANAGER ASSISTANT MANAGER EXECUTIVES
Mark The Letter A, B, C, or D On Your Answer Sheet To Indicate The Word(s) OPPOSITE in Meaning To The Underlined Word(s) in Each of The Following Questions