LONDON, Aug 18 (Reuters) - British holiday company Thomas Cook TCG.L said on Thursday it had signed a supply deal with Webjet (WEB) for the Australia-based online digital travel services firm to source and contract hotels for a non-core part of its business.
It said Webjet will pay Thomas Cook 21 million pounds ($27 million) to enter the supply agreement and the British company will transfer around 3,000 hotel contracts to Sunhotels, Webjet's European online accommodation business.
Thomas Cook, which last month cut its profit forecast as Europeans changed their holiday plans due to security worries, said the partnership extended an existing deal and would result in cost savings by reducing complexity in its business.
The Webjet deal will cover Thomas Cook's "complementary" holiday business, leaving it to focus on its main business, its higher-margin, own-brand offering. ($1 = 0.7656 pounds)
News: WEB Thomas Cook signs hotel supply deal with Webjet
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