A hotel booking website set up in 2003 was today snapped up by UK holidays giant Thomas Cook in a deal worth £21.8m (€29m).

British tour operator MyTravel is set to warn bondholders that a key industry regulator could withdraw its licence unless they quickly agree to an £800m (€1.1m) debt restructuring, it was reported today.

People who have booked holidays with troubled tour operator MyTravel were today warned not to panic, despite the company announcing losses of £910.9m (€1.3bn).