TUI announces double-digit growth
TUI Travel has seen double-digit revenue growth on the back of a 9% increase in bookings in the UK and Nordics for summer 2013.
In a trading update to the City this morning, the Thomson and First Choice parent said it was "very pleased with the development".
It added: "We remain particularly pleased with trading in the UK and Nordic source markets, where we see double-digit revenue growth.
"Average selling prices and margins across all key source markets are up year on year."
It said 46% of the overall mainstream summer programme has been sold.
Its bed bank TTV has seen summer sales rise by 10%, driven by Latin America and Asia where it is up by 19%.
Winter was ending strongly, it said, with higher average selling prices and margins. In the UK winter sales are up 5%, although in France – TUI’s worst performing market – they are down by a quarter.
The operator said it had maintained a cumulative market share increase of four percentage points over the prior year in the UK.
Unique holiday bookings in the UK are up 15% and direct distribution sales remain at 90%. Online sales now account for 40% of all bookings in the UK, a slight increase over last year,
TUI Travel chief executive Peter Long said: "We have a clear roadmap for growth built upon a deep understanding of our industry and customers. Our strong operational performance over winter means we will deliver reduced winter losses. This very strong trading has continued into Summer 2013, leaving us well placed to achieve a full-year performance towards the upper end of our growth targets."
Linsey McNeill
Editor Linsey McNeill has been writing about travel for more than three decades. Bylines include The Times, Telegraph, Observer, Guardian and Which? plus the South China Morning Post. She also shares insider tips on thetraveljournalist.co.uk
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