Thomas Cook's arm AlliedTPro and New World Travel form joint venture

Thomas Cook India announced its North American subsidiary AlliedTPro has entered into a strategic joint venture with New World Travel Inc for providing key shared services to both companies and fuel growth opportunities.

AlliedTPro (Horizon Travel Services LLC) has entered into a 50:50 joint venture agreement with New World Travel Inc. The new JV company, Allied New World, headquartered in New York, has been set up to leverage the strengths of both companies to drive productivity and accelerate growth in the post pandemic era, Thomas Cook India stated.

''The joint venture will enhance growth opportunities for both companies by combining scale and leveraging technology to improve productivity and reduce the cost of operation,'' the release added.

Allied New World will combine the strengths of both companies across key functions, including contracting, technology, IT, finance, human resources and data management.

However, AlliedTPro (Horizon Travel Services) and New World Travel will remain separate legal operating entities and both companies will continue to market under their respective brands.

''Mark Morello will continue to lead AlliedTPro as CEO and will expand his role as CEO of the newly formed Allied New World JV. Peter Dorner will continue to lead New World Travel and will be the President/Deputy CEO of the newly formed JV. Key staff from both organisations will manage the identified critical functions,'' the release said.

''Our decision to collaborate -- as equally strong and highly reputed industry leaders -- will improve productivity, reduce cost of operations and help both groups deliver enhanced value to customers, supplier partners and shareholders,'' Morello said.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)