Fosun Tourism to Buy Thomas Cook, Related Hotel Brands for $14.3 Million

China’s Fosun Tourism Group said on Friday it would acquire the Thomas Cook and related hotel brands for 11 million pounds ($14.25 million), in a bid to expand its presence in the tourism business, Reuters reported. The assets include trademarks, domain names, software applications and licenses of the British travel firm and related hotel brands, Hong Kong-listed Fosun said, adding that it did not plan to buy overseas assets or businesses related to Thomas Cook for the time being. Fosun Tourism Chairman Qian Jiannong said the acquisition would enable the group to expand its tourism business “building on the extensive brand awareness of Thomas Cook and the robust growth momentum of Chinese outbound tourism”. Read more