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Ex Thomas Cook hotels - how will they survive?
brewerdave
Posts: 8,820 Forumite
Appears as if the standard was for Thos Cook to pay their customers hotel bills ,several months after the holiday has been taken (presumably all the big TOs do this) - ATOL protection will only pay the bills of those who are currently in resort - so ,presumably, the hotels will have to join the line of Thos Cook creditors.:(
Can they insure against such failures ? If not ,I can see a lot of derelict, empty hotels for next Summer season and much more expensive stays in the surviving hotels & resorts.
Can they insure against such failures ? If not ,I can see a lot of derelict, empty hotels for next Summer season and much more expensive stays in the surviving hotels & resorts.
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brewerdave wrote: »Appears as if the standard was for Thos Cook to pay their customers hotel bills ,several months after the holiday has been taken (presumably all the big TOs do this) - ATOL protection will only pay the bills of those who are currently in resort - so ,presumably, the hotels will have to join the line of Thos Cook creditors.:(
Can they insure against such failures ? If not ,I can see a lot of derelict, empty hotels for next Summer season and much more expensive stays in the surviving hotels & resorts.
Not only that but with less flights/seats being available next year a lot of hoteliers and resorts are going feel the pinch plus if the cost of flights/holidays go up ( which it is at the moment ) the people who do get away may have less money to spend in the resorts:(0 -
I doubt there will be a shortage of flight seats next year. Other airlines seem to fill the vacuum when one goes bust. That certainly happened with Monarch as companies like Jet2 took over airport capacity. Airports don't like to operate below capacity. There are plenty of aircraft available for them to take up the slack too.Not only that but with less flights/seats being available next year a lot of hoteliers and resorts are going feel the pinch plus if the cost of flights/holidays go up ( which it is at the moment ) the people who do get away may have less money to spend in the resorts:(:dance:We're gonna be alright, dancin' on a Saturday night:dance:0 -
I doubt there will be a shortage of flight seats next year. Other airlines seem to fill the vacuum when one goes bust. That certainly happened with Monarch as companies like Jet2 took over airport capacity. Airports don't like to operate below capacity. There are plenty of aircraft available for them to take up the slack too.
Hope you are correct,TC were the only company to fly to Eygpt ( Hurgarda ) out of Newcastle. We lost our holiday this year but would like to return to Eygpt next year.0 -
I am sure that other airlines will be rushing to fill the gaps, just as Jet2 did. If the demand is there, then there will be availability. Just hope it isn't Ryanair.;)Hope you are correct,TC were the only company to fly to Eygpt ( Hurgarda ) out of Newcastle. We lost our holiday this year but would like to return to Eygpt next year.
We have a TC flight booked in April back from Valletta. We are fortunate that it is a return flight from a sail-out cruise, so the cruise line will simply use one of their other providers to operate the flight.:dance:We're gonna be alright, dancin' on a Saturday night:dance:0 -
According to the BBC, Thos. Cook owed more than £330 million to hotels -one hotel in Mexico is owed £2.5 million alone:eek:0
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When you provide a service for a single customer the risk is always there.
They go under, I go under.
It happens with smaller supply chain companies all the time.0 -
Not only that but with less flights/seats being available next year a lot of hoteliers and resorts are going feel the pinch plus if the cost of flights/holidays go up ( which it is at the moment ) the people who do get away may have less money to spend in the resorts:(
I have just booked flight only to Crete with Jet2 for September 2020 and the price is exactly the same as it was when I looked in June. A package holiday with Jet2 to Rhodes has increased by about £50 per person since that date. As prices vary throughout the booking period I don't see any evidence in those two transactions of a 'Thomas Cook effect'.
That isn't to say that others don't have a different experience.0 -
Not only that but with less flights/seats being available next year a lot of hoteliers and resorts are going feel the pinch plus if the cost of flights/holidays go up ( which it is at the moment ) the people who do get away may have less money to spend in the resorts:(
There won't be less flights, other airlines will pick up the routes as soon as. I expect some are already making plans to bid on them already. As it is every winter there is a mad scramble to get the best routes with some airlines missing out, just means with one less carrier they stand more chance of getting what they want.Hope you are correct,TC were the only company to fly to Eygpt ( Hurgarda ) out of Newcastle. We lost our holiday this year but would like to return to Eygpt next year.
TC probably paid a premium to be the only airline offering that route. Hopefully with them gone you'll get more choice.Accept your past without regret, handle your present with confidence and face your future without fear0 -
You have to wonder how the hotels ever let it get that bad. TC must have been promising them the moon on a stick to get so much on credit.Accept your past without regret, handle your present with confidence and face your future without fear0
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If they are your only source of bookings you may have no choice
Some may be saved by Jet2 , they have worked with hotels in Spain for example to enable them to upgrade and meet current standards in return for exclusive deals for a period . So a dated 1 star becomes a basic but modern 3 star and suitable for the UK market.Ex forum ambassador
Long term forum member0
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