Latest News
HomeRegional NewsEuropeTUI: Tourism bookings situation stabilises further – Differences in development still apparent between European submarkets

TUI: Tourism bookings situation stabilises further – Differences in development still apparent between European submarkets

The lively demand in recent weeks has had a positive impact on TUI<.>`s level of bookings in all major markets…

The lively demand in recent weeks has had a positive impact on TUI<.>`s level of bookings in all major markets. This was reported by the executive board at a corporate presentation yesterday on Crete. Booked turnover for the summer season throughout the Group is now only 5.6 per cent down on the previous year and has already confirmed the trend indicated at the presentation of the half year report. The development in the results is also encouraging. In addition to the satisfactory course of business, our cost cutting measures in particular are starting to pay off, said executive board chairman Dr. Michael Frenzel.



A look at the individual European markets continues to reveal a mixed picture so that the Group continues to benefit from its pan-European positioning. The summer business of the British subsidiary TUI UK currently has a shortfall in turnover of only 1.5 per cent. Its main brand is Thomson Holidays. TUI UK is therefore doing much better than the other players in the UK market.



In the important German market, demand has also improved in recent weeks. The summer turnover is now only down 10.1 per cent year-on-year – a figure which is much better than the market average. There has been a considerable boost in demand for family offers, so that this high volume segment has almost reached last year`s level. Because bookings continue to come in very late, a further improvement in the overall situation is anticipated in the last weeks of the ongoing summer season.



The west European source markets in Belgium and the Netherlands are up on the previous year with a combined plus of 3.3 per cent in booked turnover.



With respect to the German market, the trends observed in recent months in the major tourist destinations have also stabilised: Bulgaria, Romania and Croatia are amongst the season`s winners with strong double-figure growth rates. Moderate growth is posted by Germany and Austria, and considerable growth by Turkey. Bookings for Spain and North African countries still remain below last year`s figures.



During the presentation, the executive board renewed its demand for more market transparency: The increasing professionalism of our sector requires transparent bookings statistics for the tourism markets, said executive board chairman Dr. Michael Frenzel at the presentation. This is the only way we can close the market transparency gap between our sector and other business sectors, and safeguard our role as reliable market partners.

Theodore Koumelis
Co-Founder & Managing Director - Travel Media Applications | Website

Theodore is the Co-Founder and Managing Editor of TravelDailyNews Media Network; his responsibilities include business development and planning for TravelDailyNews long-term opportunities.

19/07/2024
18/07/2024
17/07/2024
16/07/2024
15/07/2024