Thomas Cook India has announced that its North American subsidiary AlliedTPro has entered into a strategic joint venture with New World Travel Inc to provide key shared services to both companies and drive growth opportunities.
AlliedTPro (Horizon Travel Services LLC) has signed a 50:50 joint venture agreement with New World Travel Inc. The new JV company, New York-based Allied New World, has been created to leverage the strengths of both companies to drive productivity and accelerate growth in the post-pandemic era, Thomas Cook India said.
“The joint venture will enhance growth opportunities for both companies by combining scale and leveraging technology to improve productivity and reduce operating cost,” the statement added.
Allied New World will combine the strengths of both companies in key functions including recruitment, 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 trade under their respective brands.
”Mark Morello will continue to lead AlliedTPro as CEO and 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 personnel from both organizations will manage the identified critical functions,” the statement said.
“Our decision to collaborate, as equally strong and highly reputable industry leaders, will improve productivity, reduce the cost of operations and help both groups deliver greater value to customers, supplier partners and shareholders,” Morello said.
(This story has not been edited by Devdiscourse staff and is automatically generated from a syndicated feed.)