Leisure hospitality firm Sterling Holiday Resorts, an arm of Thomas Cook India, has signed an agreement to acquire Nature Trails Resorts for an undisclosed amount to strengthen its presence in nature and adventure tourism segment.
The company "today announced signing of agreement to acquire Nature Resorts Pvt Ltd, an adventure holiday company that operates resorts at four unique destinations in Maharashtra," Thomas Cook India said in a filing to BSE.
This acquisition gives Sterling Holidays access to Nature Trail's land bank within drivable distance from Mumbai, Pune, Surat, Nashik and opportunity to set up new resorts in all these locations, it added.
Commenting on the development, Sterling Holiday Resorts Managing Director Ramesh Ramanathan said: "The acquisition of Nature Trails adds tremendously to our ability to offer adventure holidays and adds resorts to our network in locations close to Mumbai, Pune, Surat, Nashik and other cities."
Sterling Holiday Resorts will however retain the 'nature Trails' brand and it's director Chinmay Divekar will continue to lead Nature Trails as its Chief Operating Officer.
Shares of Thomas Cook India today closed at Rs 208 on BSE, down 1.91 per cent from its previous close.