CoStar Group has entered into an agreement to acquire STR, a leader in data benchmarking, analytics and marketplace insights for global hospitality sectors.

President of the Tobago Hospitality and Tour Operators Association (THTOA) Tedd Greig is calling on the Tobago House of Assembly (THA) and central government by extension to move swiftly to come up with a strategy to deal with the collapse of the Thomas Cook airline and tour operator.

The massive collapse of global travel group Thomas Cook could just be the beginning of more failures to come, as economic uncertainty exacerbates the ongoing disruption in the travel industry, industry watchers said.

U.S. travel agents, like many in the travel industry, expressed sadness and some surprise following Sunday's collapse of Thomas Cook, Britain's oldest travel agency and travel services firm.

The British government has ordered a probe into the role of Thomas Cook Group Plc management in the collapse of the 178-year-old tour operator, which cost thousands of jobs and left people stranded across Europe.

Thomas Cook, a 178-year-old British travel company and airline, declared bankruptcy early Monday morning local time in the UK, suspending operations and leaving hundreds of thousands of tourists stranded around the world.