Thomas Cook set to open new Casa Cook hotel in Crete following news of £1.5bn loss

THOMAS Cook is set to open a new family-friendly Casa Cook, their own-brand boutique hotel chain, in Crete this week.

It comes just days after the holiday provider reported a £1.5 billion pre-tax half-year loss.

Thomas Cook has claimed that 70 per cent of the rooms at the new hotel, which is opening in Chania this weekend, are already been booked for the summer period.

It is one of 20 hotels that they are planning to open this year, with other destinations including Spain and Egypt.

There are currently just three others open - Rhodes, Kos and Ibiza - which are all adults only.

The announcement follows news of their huge profit loss, which prompted a flurry of concerned customers to contact the brand about whether their holiday bookings will be affected.

Thomas Cook shares fell by 13 per cent on Monday, with stocks down by 55 per cent.

The holiday provider has reassured customers that they should not worry about their upcoming holidays.

Chief executive Peter Fankhauser declared that the company is focused on "giving customers a great holiday" amid a further fall in its share price.

The company is assuring customers that their holidays will go ahead and insisting "we're not going bust or into administration".

Mr Fankhauser said: "It may be a tough environment for holiday companies but it's a paradise for customers who can get really great value offers for this summer.

"My focus is giving customers a great holiday this summer, and our new Crete Casa Cook is just one of 20 hotels we're opening this year to help us do just that."

This morning (May 21), its share prices have seen a slight uplift.

Like other tour operators, Thomas Cook has struggled in recent years due to a fall in demand for package holidays as well as the unexpected heatwave last year, which resulted in a string of profit warnings.

Thomas Cook recently announced an increase in demand for holidays to Turkey and Tunisia ahead of the summer holidays

However, Spain remains the number one destinations for Brits.

Sun Online Travel previously visited Thomas Cook's Cook’s Club in Crete, with rage rooms and VR pods.