Thomas Cook AG has sold its 100%-owned AGA Founty Investissement SA which owns a 470-bedroom hotel in Agadir, Morocco, to Inversora de Hoteles Vacacionales SA…
Thomas Cook AG has sold its 100%-owned AGA Founty Investissement SA which owns a 470-bedroom hotel in Agadir, Morocco, to Inversora de Hoteles Vacacionales SA, a joint venture between hotel operator Iberostar and three Spanish banks Sa Nostra, Caja de Madrid and Caixa Galicia. Iberostar Founty Beach will be the new name of the hotel.
The company has also sold its majority stake in the Spanish Royal Beach Club, an apartment-hotel with 200 rooms in Magaluf in Mallorca, to Dazzle Capital Holdings Ltd., a U.K. real-estate investor
With the sale of these hotels Thomas Cook AG continues its divestment plan which aims to achieve a flexible asset-light business model, focusing on its core businesses of selling package tours, components and services, the company added.
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