Case Studies of Popular Travel Companies — Cox & Kings, TUI, Thomas Cook & India’s Travel Giants
Travel Trade · Part 2 · Module 39
Case Studies of Popular Travel Companies — Cox & Kings, TUI, Thomas Cook & India’s Travel Giants
The world’s greatest travel companies didn’t just sell holidays — they built empires. Their stories of innovation, expansion, crisis, and reinvention hold lessons for every travel professional. Here are the definitive case studies.
🏆 Global Travel Company Case Studies
Cox & Kings — The World’s Oldest Travel Company
1758
Founded by Richard Cox, London
260+
Years of operation
History: 1758 — Richard Cox appointed as general agent to the Regiment of Foot Guards under Lord Ligonier. By 1815: agents for the entire Household Brigade, cavalry, infantry, Royal Artillery. 1922: absorbed Henry S. King & Co. → Cox & Kings created. 1939: incorporated in India as Eastern Carrying Company Limited. 1950: renamed Cox and Kings (India) Limited. 2007: became public limited company.
Modern era: 2008 — Joint venture with IRCTC for Royale Indian Rail Tours. 2011 — Acquired Holiday Break PLC (UK) for GBP 323.43 million. 2015 — Won PATA Gold Award. 12 own offices across India (Delhi, Mumbai, Chennai, Bangalore, Kolkata, Ahmedabad, Kochi, Hyderabad, Pune, Goa, Nagpur, Jaipur). Worldwide offices: UK, USA, Japan, Russia, Singapore, Dubai.
Products: Leisure Travel, MICE, Corporate Travel Management, Foreign Exchange, Insurance, E-Business. Outbound package holidays CAGR: 25% over 5 years. Collapse: 2019 due to financial difficulties.
Modern era: 2008 — Joint venture with IRCTC for Royale Indian Rail Tours. 2011 — Acquired Holiday Break PLC (UK) for GBP 323.43 million. 2015 — Won PATA Gold Award. 12 own offices across India (Delhi, Mumbai, Chennai, Bangalore, Kolkata, Ahmedabad, Kochi, Hyderabad, Pune, Goa, Nagpur, Jaipur). Worldwide offices: UK, USA, Japan, Russia, Singapore, Dubai.
Products: Leisure Travel, MICE, Corporate Travel Management, Foreign Exchange, Insurance, E-Business. Outbound package holidays CAGR: 25% over 5 years. Collapse: 2019 due to financial difficulties.
TUI Group — World’s No.1 Tourism Business
€17.2B
Revenue 2015/16
20M
Customers annually
Origin: Preussag AG — an industrial company with 70+ years history. 1997: Acquired Hapag-Lloyd (leading German tourism company) — TUI entered tourism. Further acquisitions: Thomson (UK), Fritidsresor (Scandinavia), Nouvelles Frontières (France), hotel groups RIU and Magic Life. 2007: Tour operating businesses of TUI AG merged with First Choice Holidays PLC → TUI Travel PLC (London Stock Exchange listed).
Scale: 1,600 travel agencies + 6 touristic airlines (150 aircraft) + 300+ hotels (214,000 beds) + 16 cruise liners + destination management companies worldwide. Operating in 180 countries. Staff: 67,000. TUI is the world’s most complete example of vertical integration in tourism.
Scale: 1,600 travel agencies + 6 touristic airlines (150 aircraft) + 300+ hotels (214,000 beds) + 16 cruise liners + destination management companies worldwide. Operating in 180 countries. Staff: 67,000. TUI is the world’s most complete example of vertical integration in tourism.
Thomas Cook — The Pioneer Who Changed Everything
Thomas Cook (1808-1892) started with a 570-passenger train excursion from Leicester to Loughborough on 5 July 1841 for 1 shilling each. Created: package tours (1845), circular notes/traveller’s cheques (1874), first round-the-world tour (1872), first tours to India (1878), India offices (1880). Legacy: defined the entire modern travel agency concept. Collapse in 2019 after 178 years — primarily due to unsustainable debt, OTA competition, and failure to digitalise fast enough. Thomas Cook India and Cox & Kings India both collapsed in 2019 — a watershed moment for India’s travel industry.
🇮🇳 India’s Major Travel Companies
MakeMyTrip — India’s Digital Travel Revolution
Founded in 2000 by Deep Kalra. India’s first major OTA. Listed on NASDAQ. 2016: Merged with Goibibo (Go-MMT). Commands 50%+ of India’s online travel market. 30M+ annual transactions. Products: Flights, Hotels, Holiday Packages, Buses, Trains, Cabs, Homestays. Brand Makemytrip made “online travel booking” mainstream in India.
SOTC & Thomas Cook India
After Thomas Cook UK’s 2019 collapse, Thomas Cook India was acquired by Fairfax Holdings. SOTC (previously Kuoni India) also acquired by Fairfax. Together they form India’s largest integrated travel and tourism company. Products: Outbound tours, Inbound, Domestic, Visas, Forex, MICE.
🎯 UGC NET Key Points — Module 39
◆ Cox & Kings = world’s oldest travel company (1758) — Richard Cox, London
◆ Cox & Kings India: incorporated 1939, public listed 2007, IRCTC JV 2008, collapsed 2019
◆ TUI = world’s #1 tourism business — originated as industrial company Preussag AG
◆ TUI 2007: TUI AG merged with First Choice Holidays PLC → TUI Travel PLC
◆ Thomas Cook: 1841-2019 (178 years) — collapsed due to debt + OTA competition
◆ MakeMyTrip: founded 2000, NASDAQ-listed, merged with Goibibo 2016
◆ Both Thomas Cook India + Cox & Kings India collapsed in 2019 — same year
◆ Fairfax Holdings acquired Thomas Cook India post-2019 collapse
◆ India OTA leaders: MakeMyTrip, Yatra, Cleartrip, Ixigo, Goibibo (now part of MMT)
◆ Cox & Kings India: incorporated 1939, public listed 2007, IRCTC JV 2008, collapsed 2019
◆ TUI = world’s #1 tourism business — originated as industrial company Preussag AG
◆ TUI 2007: TUI AG merged with First Choice Holidays PLC → TUI Travel PLC
◆ Thomas Cook: 1841-2019 (178 years) — collapsed due to debt + OTA competition
◆ MakeMyTrip: founded 2000, NASDAQ-listed, merged with Goibibo 2016
◆ Both Thomas Cook India + Cox & Kings India collapsed in 2019 — same year
◆ Fairfax Holdings acquired Thomas Cook India post-2019 collapse
◆ India OTA leaders: MakeMyTrip, Yatra, Cleartrip, Ixigo, Goibibo (now part of MMT)