Thomas Cook India capitalizes on AI, spiritual tourism, and tier-2 cities to boost biz
Thomas Cook India's net profit was marginally up to Rs 73 crore in the first quarter of FY2025 from Rs 71 crore in the same period last year. The company's standalone total income stood at Rs 788.7 crore for the quarter, up from Rs 766.28 crore in Q1 FY2024
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Travel agency platform Thomas Cook India is leveraging Artificial Intelligence, spiritual tourism, and tier-2 cities to scale up its business. According to Executive Chairman Madhavan Menon, "the group has and continues to invest significantly in AI-powered platforms, systems, and solutions to enhance the customer experience". The travel firm will achieve it through product and service innovation, and leveraging technology, he added.
Last week, the travel services company announced the launch of an AI-powered platform through which customers can customize their holidays.
Additionally, Thomas Cook India has promised to 'redefine spiritual tourism' in the country by unveiling hidden gems or sacred sites and ensuring their accessibility. Thomas Cook and its subsidiary SOTC’s data have indicated an increased demand of 100% Y-o-Y for spiritual tourism.
Notably, spiritual tourism has witnessed a boom in India and makes up 60% of the country's domestic tourism. The industry is estimated to grow at a compounded annual rate of 16.2% and is likely to reach $4.6 billion in size by 2033, the Mumbai-headquartered company added.
The company has also intended to expand its offerings in tier-2 and tier-3 cities due to a surge in domestic tourism. Menon said in the calendar year 2024, they have opened five resorts and are planning to open 8-10 resorts during the rest of the year. The company will focus on "Expanding the sales and distribution footprint across the country to cover more than 5,000 partners, covering Tier 2 and Tier 3 cities", he added. Thomas Cook expanded its foreign exchange business in Tier-2 and 3 cities by opening seven outlets in the current calendar year, according to Mahesh Iyer, Executive Director at Thomas Cook.
Thomas Cook India's net profit was marginally up to Rs 73 crore in the first quarter of FY2025 from Rs 71 crore in the same period last year. The company's standalone total income stood at Rs 788.7 crore for the quarter, up from Rs 766.28 crore in Q1 FY2024. The company's advertisement expenses have increased by 92% to Rs 27.65 crore in FY24 from Rs 14.4 crore. The standalone net profit jumped to Rs 99.9 crore in FY24 from Rs 1.5 crore.
