TUI reveals huge holiday price increase

By Lisa James
Home » TUI reveals huge holiday price increase

Average prices for summer holidays across the TUI Group were 27% higher this summer than before the pandemic, the company has reported.

In a trading update ahead of publication of its full-year financial report, TUI said its average selling price (ASP) was up 8% on the 2022 season and up 27% on summer 2019, slightly ahead of the levels it reported in its third-quarter results.

Bookings in the final month of the season are ‘well ahead of summer 2022’ and the ‘positive momentum’ is continuing into winter 2023/23, ‘supported by higher prices’, TUI said, adding it is ‘well positioned to achieve the results target for FY 2023’.

TUI has extended the season in Greece and Turkey to accommodate increased demand.

CEO Sebastian Ebel the company would have performed ahead of expectations ‘had it not been for the various events during the last few months which were outside of our control, not least the wildfires on Rhodes’.

Since its Q3 2023 update, demand in the final month of the season is well ahead of summer 2022, up 8%.

Winter bookings are up 15% on the previous year, prices are on average higher by 4% on 2022.

In the UK market, 38% of winter product is sold. Overall, bookings are up 8% and prices are 3% higher against winter 2022/3.

Sebastian Ebel added: “We are seeing a strong close to the summer season and we are on course to achieve results in line with expectations.

“This is particularly evident in our main markets Germany where bookings year-on-year are +10% higher and UK where bookings are in line with an already strong prior year summer season and +4% ahead of pre-pandemic levels.”

TUI’s full-year results, for the 12 months to 30 September 2023, are  due out on 6 December.

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