Thomas Cook summer bookings up…
Thomas Cook’s UK bookings for this summer are 3% higher than last year, but average prices are down 2%.
Releasing its pre-close trading update today, the travel giant blamed the drop in selling price on "product mix" and a higher demand for shorter holidays.
But it said the drop was partially "offset by new product and cost out and profit improvement benefits".
Capacity for summer 2014 in the UK market has been reduced by 1%.
Across all of its markets, the summer programme is now 50% sold, whish is 1% higher than this time last year, with overall bookings up 2%.
"Compared with last year, margins are expected to improve more than average selling prices, reflecting enhanced yield management and the benefits of our cost out and profit improvement programme, which is delivering ahead of schedule," said CEO Harriet Green.
She said following the sale of its interest in The Airline Group, shareholder in NATS, Thomas Cook has delivered its disposals target 18 months early.
"The continuing transformation of Thomas Cook, including the delivery of our strategic targets, remains our top priority and I look forward to sharing a full update at our half year results announcement on 15 May, together with details of further new product development and the second wave of our profit improvement plans," she added.
The group also reported that unrest in Europe has impacted winter 2013/14 bookings.
"Excluding Egypt, we have achieved higher average selling prices and bookings and gross margin has been positively impacted by improved yield management and cost efficiencies," it said.
"Despite significant market disruption, trading has been satisfactory for the winter season, which is 93% sold and in line with the booking pattern at the same time last year.
"We continue to expand the range of winter sun destinations on offer consistent with our strategy of broadening our product range."
Bev
Editor in chief Bev Fearis has been a travel journalist for 25 years. She started her career at Travel Weekly, where she became deputy news editor, before joining Business Traveller as deputy editor and launching the magazine’s website. She has also written travel features, news and expert comment for the Guardian, Observer, Times, Telegraph, Boundless and other consumer titles and was named one of the top 50 UK travel journalists by the Press Gazette.
Vegas’s Billion-Dollar Secrets – What They Don’t Want Tourists to Know
Visit Florida’s New CEO Bryan Griffin Shares His Vision for State Tourism with Graham
Chicago’s Tourism Renaissance: Graham Interviews Kristin Reynolds of Choose Chicago
Graham Talks with Cassandra McCauley of MMGY NextFactor About the Latest Industry Research
Destination International’s Andreas Weissenborn: Research, Advocacy, and Destination Impact
Graham and Don Welsh Discuss the Success of Destinations International’s Annual Conference
Graham and CEO Andre Kiwitz on Ventura Travel’s UK Move and Recruitment for the Role
Brett Laiken and Graham Discuss Florida’s Tourism Momentum and Global Appeal
Graham and Elliot Ferguson on Positioning DC as a Cultural and Inclusive Global Destination
Graham Talks to Fraser Last About His England-to-Ireland Trek for Mental Health Awareness
Kathy Nelson Tells Graham About the Honour of Hosting the World Cup and Kansas City’s Future
Graham McKenzie on Sir Richie Richardson’s Dual Passion for Golf and His Homeland, Antigua
ADS PRO 
France prepares for a massive strike across all transports on September 18
Turkish tourism stalls due to soaring prices for accommodation and food
CCS Insight: eSIMs ready to take the travel world by storm
Germany new European Entry/Exit System limited to a single airport on October 12, 2025
Airlines suspend Madagascar services following unrest and army revolt