September 27 (SeeNews) - Croatian tourism company Sunce Koncern [ZSE:SUKC] said the total exposure of its subsidiaries to UK-based global travel group Thomas Cook stood at 16.1 million kuna ($2.4 million/2.2 million euro) as of September 25.
The Sunce Koncern subsidiaries, which have been exposed to Thomas Cook Group, include Hoteli Brela with some 7.5 million kuna exposure, Hoteli Tupcevi with some 8.0 million kuna and Hoteli Zlatni Rat with around 600,000 kuna, Sunce Koncern said in a statement with the Zagreb bourse on Thursday.
It added that by September 23 Thomas Cook Group had been regularly servicing all its due liabilities towards the Croatian hotel operators.
Sunce Koncern also said that the loss of the collapse of Thomas Cook and its members will mostly have a one-off effect on the current tourism season, and will not impact the future operations.
The Croatian group said it will provide a safe and pleasurable stay to all guests sent by the agencies within Thomas Cook Group who are currently at its hotels, until the time their countries of origin organise return flights for their citizens.
On September 23, Thomas Cook Group announced it has gone bankrupt, cancelling all bookings for flights and holidays and leaving many holiday-makers stranded abroad. The UK Civil Aviation Authority, stepped in to assist customers currently overseas and those in the UK with future bookings.
Thomas Cook Group was formed in 2007 by the merger of Thomas Cook AG and MyTravel Group. However, Thomas Cook's history traces back to the 19th century, making it the world's first international travel company.
With 11 beachfront hotels on the Adriatic coast, its own airport, a camping ground and other tourism assets located in four popular destinations in Croatia, the Sunce Koncern is one of the leading tourism operators in the country.
It has been operating in its current form since 2005 as all properties are mostly managed and operated in-house, under the brand BlueSun Hotels and Resorts.
(1 euro = 7.40807 kuna)