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Thomas Cook India Group acquires 24% stake in TravelJunkie Solutions

Ithaka’s app based service offers users a combination of automation via AI focused technology.

, ETMarkets.com|
Oct 05, 2018, 07.38 PM IST
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Ithaka’s app based service offers users a combination of automation via AI focused technology.
New Delhi: The Board of Thomas Cook India on Friday approved the acquisition of a 24% strategic stake in TravelJunkie Solutions Private Limited, a Mumbai based travel tech start-up via its wholly owned subsidiary TC Tours.

TravelJunkie Solutions developed Ithaka – a chat-based mobile application serving FIT (Free Individual Travellers) customers by recommending local experiences for different destinations and helping plan their trip and book activities, hotels and flights.

Ithaka’s app based service offers users a combination of automation via AI focused technology.

Ithaka currently serves travellers across various international destinations and plans to expand over the next 18 – 24 months.

Madhavan Menon, chairman of the Thomas Cook India Group said: “We are very excited with this strategic investment that also marks our first investment in the exciting travel tech space. Ithaka is a perfect marriage of cutting edge technology and human expertise delivered in a user-friendly mobile chat format. For Thomas Cook, the partnership with Ithaka creates a new channel that reaches and serves millennials, while for Ithaka, the partnership delivers an end to end, bookable experience. The business model also resonates perfectly with the hybrid technology + personalisation approach of the Thomas Cook Group in our constant endeavour to innovate and deliver a seamless customer experience to new age travellers”

The Thomas Cook India Group has combined revenue in excess of Rs. 11,411.6 crore and operates B2C and B2B brands including, Thomas Cook, SOTC, TCI, SITA, Asian Trails, Allied T Pro, Australian Tours Management, Desert Adventures, Travel Circle International Limited, and Private Safaris East & South Africa.

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