UK bookings market is ‘most advanced’, says TUI

TUI raises €1.8bn to repay state aid
By Lisa James
20/09/2022
Home » UK bookings market is ‘most advanced’, says TUI

TUI Group has said it plans to ‘invest in the customer and holiday experience’ in its last trading statement ahead of its annual report.

The travel company’s pre-close trading statement says the UK market is its ‘most advanced booked’ of all markets for this winter, with bookings up 9% on 2018/19 and average selling prices up 22%.

Overall, TUI says its average selling price is up 26% across all markets.

TUI said its cruise division ‘continues to recover in Q4’, with occupancy rates above 2019 levels.

Looking at cruise bookings, TUI added: “Short-term bookings continue to represent a large proportion of overall bookings, however, the proportion of mid-term bookings is increasing as customer confidence returns.”

TUI Group CEO Fritz Joussen and CFO Sebastian Ebel said: “In 2022, we see a strong travel summer almost at the same level as summer 2019.

“In the UK, bookings continue to be well above pre-crisis levels at +4% and bookings in Germany and the Netherlands have also been above pre-crisis levels in recent weeks.

“The trend has been towards higher value or longer holidays with a higher overall holiday budget.

“This is encouraging and shows the current importance of holidays and travel experiences in the post-Corona era.

“Our strong brand, exclusive product portfolio with proprietary holiday experiences at hotels, clubs and cruise ships, and strong presence in destinations are competitive advantages that will continue to pay off and that we are building on.

“Through the efficiency programmes successfully implemented during the pandemic, we have also significantly and sustainably reduced our cost structure.

“We are leaner, more digital and more efficient. This gives us the freedom to invest in the customer and the holiday experience: Quality, service and sustainability are our focus.”

TUI’s Annual Report will come out on 14 December.

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