TUI asked its shareholders on Thursday to consider changing where and how its stock is publicly listed.
06.12.2023 - 21:51 / skift.com / Sebastian Ebel / Selene Brophy
TUI, Europe’s largest tour package holiday operator, said Wednesday it saw strength in all its core business segments: hotels, cruises and experiences. And it’s benefiting from last years’ shift to consolidation of its products onto one global platform.
The result: CEO Sebastian Ebel forecast a 25% increase in operating profit for 2024.
A year ago, TUI began changing its process of selling fixed holiday packages consisting of a flight, hotel, and transfer, sold on different websites specific for each of its markets in Germany, Belgium, and Sweden. It is moving to one consolidated platform, with an emphasis on mobile and selling through the TUI App.
TUI’s Markets and Airlines segment, for the first time, turned profitable. Ebel said the segment bounced back from a loss of $64 million (59 million euros) last year, with earnings before interest and tax of $260 million (241 million euros).
TUI’s cruise segment saw a notable improvement in its operating performance over the previous year. The occupancy rates for TUI Cruises, Hapag-Lloyd Cruises, and Marella Cruises increased to a range of 72% to 96%, up from 58% to 70%. Additionally, the total passenger days available across these brands grew by 15%, reaching 9.5 million compared to 8.2 million in the prior year.
Ebel further forecasts pricing increases for TUI products between 3% and 5%, depending on the country and the product. However, he remained confident the TUI demographic could absorb this, stating, “In our segment, we have a lot of people for whom travel is very, very important, and they spend a significant amount of money for it.”
What am I looking at? The performance of cruise and tours sector stocks within the ST200. The index includes companies publicly traded across global markets including both cruise lines and tour operators.
The Skift Travel 200 (ST200) combines the financial performance of nearly 200 travel companies worth more than a trillion dollars into a single number. See more cruise and tours sector financial performance.
Read the full methodology behind the Skift Travel 200.
TUI asked its shareholders on Thursday to consider changing where and how its stock is publicly listed.
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