Demonetisation to delay bookings, bring changes in customer behaviour: Thomas Cook India MD

Tour operator Thomas Cook expects delays in bookings for summer holidays and also changes in customer behaviour with more online purchases and EMI holidays.

"Bookings for winter 2016 holidays have already happened and I am not losing sleep over it. Bookings for summer holidays will not stop. I just think bookings will take a little longer to happen," said Thomas Cook India chairperson and managing director Madhavan Menon.

Thomas Cook's outbound travel business in the last season was impacted due to terror attacks in Europe. Earlier in June the company said it is expecting growth in outbound tours this year. The government's decision to demonetise Rs 500 and Rs 1000 currency notes could impact it.

"Economy will undergo an adjustment (as a result of  demonetisation) and this will result in people delaying their discretionary purchases. We will also get affected by it. It is too early to give an assessment," Menon said.

However, the company has seen an uptick in online bookings following demonetisation decision. Until now about 15% of its package tours were sold online and Menon sees an opportunity for an increase. The demonetisation decision could also result in other changes in customer behaviour like bookings through EMIs amongst others, Menon remarked.