TUI posts double-digit quarterly growth
TUI reported a successful third quarter with record revenue of €5.8 billion.
It had 5.8 million guests in the reporting period, and continued a run of eight consecutive quarters with double digit growth in underlying EBIT.
TUI Group CEO Sebastian Ebel: “This also demonstrates the strength and future viability of our business model. We are growing profitably and are delivering what we have announced.”
In the Holiday Experiences segment with Hotels & Resorts, Cruises and TUI Musement, all areas continued the very positive development of the previous quarters.
Hotels & Resorts achieved an underlying EBIT of €131 million.
This corresponds to an increase of 16% year-on-year (Q3 2023: €113 million).
The number of overnight stays was 2% higher than in the previous year.
The average rate per day rose by 7%.
The Cruises segment also reported another very good quarter.
There were higher occupancy and higher rates, and average fares increased by 7%.
For the current travel summer, the Group continues to record strong booking levels 6% above last year and average prices are 3% higher than a year ago.
For this summer, 88% capacity has already been sold.
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Editor for TravelMole North America and Asia pacific regions. Ray is a highly experienced (15+ years) skilled journalist and editor predominantly in travel, hospitality and lifestyle working with a huge number of major market-leading brands. He has also cover in-depth news, interviews and features in general business, finance, tech and geopolitical issues for a select few major news outlets and publishers.
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