Thomas Cook Group said it had launched a hotel fund joint venture with Swiss-based developer LMEY Investments that would consist of five seed hotel assets worth around £150m.
Establishment of the fund would help the tourism group accelerate the growth of its own-brand hotel portfolio.
The JV would focus on acquiring hotel properties across Thomas Cook's key destination markets, leveraging the addition of third-party capital over time, the company said.
The five seed assets included two Thomas Cook hotels: the family resort Sunwing Kallithea in Rhodes and the Sunwing Makrigialos in Cre