Open AccessA Review and Situational Analysis of Thomas Cook Business Failure, A Successful Business Model for 178 Years: A Case Study
Author(s) -
Jameel Mohammed Ahmed
Publication year - 2020
Publication title -
international journal of inclusive development/international journal of inclusive development (online)
Language(s) - English
Resource type - Journals
eISSN - 2582-4740
pISSN - 2454-4132
DOI - 10.30954/2454-4132.1.2020.9
Subject(s) - tourism , business failure , business model , business , debt , marketing , situational ethics , finance , operations management , engineering , political science , law
Thomas Cook, the world’s oldest travel brands with 19 million annual customers, operated and offered multiple services related to tourism and numerous one-stop-shops for all the travel demands. A 178 years old brand, trusted by travelers globally, and merged with My Travel group in 2007, was collapsed in 2019 due to failure to pay debts, acquiring higher costs, financial troubles, higher fuel prices and failure to meet customer demands. The study encompasses of a business review and a short analysis of Thomas Cook’s business model, reasons for failure and important lessons to be learnt.