Thomas Cook India, along with its subsidiary Sterling Holiday Resorts Limited, has reported strong financial results for the first quarter, demonstrating resilience in the face of challenging market conditions.

Thomas Cook India Financial Highlights

Thomas Cook India delivered impressive consolidated results for Q1:

The company's PBT margins improved to 5.20%, showcasing enhanced operational efficiency.

Segment Performance

• Travel and travel-related segments grew by 18.00%, with strong contributions from both B2B and B2C operations.
• Financial services segment experienced a 7.00% decline due to geopolitical tensions affecting forex demand.
• The Destination Management Services (DMS) business showed robust growth of 29.00%, driven by strong performance in Asian markets.

Sterling Holiday Resorts Performance

Sterling Holiday Resorts, a subsidiary of Thomas Cook India, achieved its best-ever Q1 performance:

The company maintained its debt-free status while increasing its cash reserves to ₹2,963.00 million.

Operational Highlights

• Available room inventory increased by 21.00%
• Average Room Rates (ARR) held steady at ₹7,089.00
• Room revenue increased by 11.00%
• Food & Beverage revenue surged by 16.00%

Network Expansion and Recognition

• Expanded to 54 destinations across India
• Added two new properties: Sterling Kastoori in Rudraprayag and Sterling Vanavasa in Lansdowne
• 30 resorts won TripAdvisor Travelers' Choice Awards
• Sterling Kanha earned the "Best of the Best" award for the third consecutive year

Challenges and Market Conditions

The quarter was impacted by several domestic and international disruptions:

• Pahalgam incident
• Aviation mishap
• Iran-Israel conflict affecting international routes

Despite these challenges, both Thomas Cook India and Sterling Holiday Resorts demonstrated resilience and growth.

Future Outlook

Thomas Cook India's strong performance has been recognized by CRISIL, which upgraded the company's rating to AA, the highest in India's travel sector. This upgrade reflects the company's financial strength and market position.

Sterling Holiday Resorts is poised for accelerated growth, supported by:

• A robust pipeline of over 20 resorts
• Deepening domestic travel trends
• Strong foundation in technology, brand, and human resources

Vikram Lalvani, Managing Director and CEO of Sterling Holiday Resorts Limited, commented, "Our record-breaking Q1 performance is a testament to our strategic focus on delivering upscale experiential hospitality. We are well-positioned to capitalize on the growing domestic travel market while maintaining our commitment to sustainability and guest satisfaction."

With their strong financial positions, expanding networks, and focus on customer experience, both Thomas Cook India and Sterling Holiday Resorts appear well-equipped to navigate the dynamic travel and hospitality landscape and drive continued growth in the coming years.

Thomas Cook India , a leading omnichannel forex services company, has announced significant enhancements to its Study Buddy Forex Card, offering a comprehensive rewards package valued at Rs. 21,000.00. This strategic move aims to strengthen the company's position in the rapidly growing overseas education segment.

Rewards Package Details

The enhanced Study Buddy Forex Card now includes:

• Amazon vouchers worth Rs. 5,500.00
• Thomas Cook loyalty points worth Rs. 5,000.00
• International flight discounts worth Rs. 3,000.00
• Free Uber rides to airports up to Rs. 1,000.00
• Additional services including free international SIM cards, lounge access, and student identity cards

Market Opportunity

The enhancements come at a time when the overseas education market is experiencing significant growth. According to the Ministry of External Affairs, the number of Indian students studying abroad has increased from 1.3 million to 1.8 million in recent years. Thomas Cook India reported a 26% year-on-year growth in its overseas student segment, highlighting the potential in this market.

Offer Availability and Duration

The enhanced Study Buddy Forex Card is available on both Mastercard and Visa variants, with the offer period extending until September 30, 2025. This timing is strategically aligned with the upcoming overseas student season.

Executive Insights

Deepesh Varma, Executive Vice President - Foreign Exchange at Thomas Cook (India) Limited, commented on the enhancement: "Our Study Buddy Forex Card addresses the critical needs of students with thoughtfully bundled benefits backed by the reliability and security of Mastercard and Visa. The enhanced offering valued at Rs. 21,000.00 represents our continued focus on delivering significant offerings that truly benefit students, reinforcing Thomas Cook India's position as a trusted partner for students and families."

Company Position in Forex Market

Thomas Cook India has positioned itself as "India ka Forex Specialist" and claims to be the largest non-bank foreign exchange services provider in the country. The company serves over a million customers annually, offering a broad spectrum of services including foreign exchange, corporate travel, MICE, leisure travel, value-added services, and visa services.

The enhanced Study Buddy Forex Card is part of Thomas Cook India's strategy to increase its market share in the overseas education segment. By offering a comprehensive range of benefits and rewards, the company aims to provide an all-in-one solution for students pursuing international education, addressing their financial needs and enhancing their overall experience abroad.