Cox & Kings, The Americas Clears Confusion Amid Affiliate Company’s Financial Struggles

by Jessica Montevago
Cox & Kings, The Americas Clears Confusion Amid Affiliate Company’s Financial Struggles

Photo: Cox & Kings, Ltd.


Cox & Kings, The Americas is assuring travelers and the industry that it is operating “business as usual,” even though Cox & Kings Ltd. of India, one of the world's oldest travel companies, has fallen behind on millions of dollars in debt payments.

The 260-year-old travel firm has been facing a liquidity crisis, resulting in loan defaults and rating downgrades in the past few months.

Additionally, two British travel companies, LateRooms and SuperBreak, have gone out of business after a loss of funding from Cox & Kings, which owns a 49% stake in them. Subsidiary company Superbreak was acquired in September 2011 by Cox and Kings as part of Holidaybreak Ltd. acquisition, which was a dominant short holiday provider in the UK. LateRooms was acquired by Cox and Kings in October 2015.

The management team in India is working with their lenders to optimize its assets globally.

According to management of Cox & Kings, The Americas, businesses in each country act autonomously and independently of one another. “This has resulted in some confusion as to the distinct businesses under the brand and how they are differentiated, which is important, given the operational independence of each one.”

Cox & Kings, The Americas is a direct subsidiary of Cox & Kings Travel Ltd, UK, which itself operates independently from India’s Cox & Kings, Ltd. The U.S. boutique tour operating activities are fully independent from India-based Cox & Kings, Ltd.

“Cox & Kings, The Americas is happy to assure all of their valued travel partners and clients that there is no disruption to the U.S. operations whatsoever, either to current or future travel bookings,” the company said in a statement to Travel Market Report.

“Our partners and valued travelers can count on continued seamless arrangements at the highest level of service for which we are well known in all of the destinations we service, including any guests traveling to India from the U.S.”

While the International Air Transport Association (IATA) canceled the Indian-based company’s license to sell tickets, Cox & Kings, The Americas holds its own IATA agreement and ARC license to purchase airline tickets. The Americas affiliate is also an active member of USTOA, participating in their traveler protection program.

A representative from the Cox & Kings, The Americas said:“ We are actively communicating with all of our industry partners to ensure they have a clear understanding of the ongoing situation and can offer additional peace of mind to our mutual clients. Our U.S. Management Team has been and will continue to be in close contact with our community of travel advisors and partners to monitor the situation, answer any questions that arise, and communicate confidence in Cox & Kings, The Americas.”

  0
  0
Could not load file or assembly 'System.Net.Http.Primitives, Version=1.5.0.0, Culture=neutral, PublicKeyToken=b03f5f7f11d50a3a' or one of its dependencies. The located assembly's manifest definition does not match the assembly reference. (Exception from HRESULT: 0x80131040)
TMR THIS WEEK
http://services.travelsavers.com/AMGService.svc/REST/GetImage?ImageID=d8164dc4-58d9-e911-be17-782bcb66a2f2)

The World’s Best Events to Build Trips Around

All travel advisors can benefit from adding events to their trip-planning services, further expanding their ability to help their clients have unforgettable travel experiences - the kind that they’ll tell their grandkids about some day.

TMR Recommendations
Top Stories
Navigating Overtourism with The Travel Corporation

The global brand is taking bold steps around the world to create a lasting, positive impact on the destinations we visit, and to spread the word by educating agents and their clients.

Collette Introduces 22 New Tours for 2020

The company is focusing on expansion of its small group Explorations series to places like Spain, Portugal, the Baltics, and Patagonia.

Avanti Destinations Expands into New Regions

The provider of custom-designed independent packages is growing its destinations and itineraries in 2019 and 2020.

New Apple CEO and D.R.’s Minister of Tourism Address Advisors at ALG’s First Ascend Summit

Dominican Republic official assures advisors that the country is as safe as ever and asks for their support in educating the public.

Hotel Executives on Headwinds Caused by Media Coverage of Dominican Republic

Industry leaders talk about what the travel industry needs to do to change the negative narrative that has been created around the Caribbean country.

Tour Operator Friendly Planet Travel Acquires InsightCuba

The transaction unites two tour companies that are licensed to offer programs to Cuba, placing them in a stronger position to promote travel to Cuba.

News Briefs
Tip of the Day

"They underestimate the power of the distribution, the power of travel agent, the power of packaging … and I think that’s why we’ve been more successful than they have. In our space, the distribution has become our advantage."

Alex Zozaya, ALG

Daily Top List

Best Places to Visit in Kentucky

1. Louisville

2. Lexington

3. Bowling Green

4. Frankfort

5. Owensboro

Source: VacationIdea

TMR Outlooks
Advertiser's Voice
Advertiser's Voice: USTOA's Recalculating with Harrison Greenbaum – Episode 2 (Dining in Mexico City)