TUI-owned FirstChoice.co.uk has relaunched as a vibrant new travel and experiences booking platform as the brand looks to strengthen its position with the flexible, independent traveler.
TUI Returns to Profit, Eyes Shifts From Extreme Weather
25.08.2023 - 13:03 / skift.com / Sebastian Ebel / Selene Brophy / Cruises
Tour Operator Group TUI has returned to profitability, posting its first post-pandemic net profit. However, its overall performance for the year is expected to be dampened by the impact of the extreme weather and wildfire disruptions experienced in Europe towards the end of the third quarter.
Travel demand in the three months to the end of June, had pushed TUI booking performance to a 6% gain, TUI Group CEO Sebastian Ebel said Wednesday on a conference call.
And while the company had seen a slip in bookings following recent wildfires in Greece’s Rhodes Island, Ebel stated that it had “already stabilized.” An estimated 8,000 TUI customers were impacted and the expected cost of the emergency operations is an estimated $27 million (25 million euros) for the full-year.
Ebel tried to dispel concerns that summer travel faced a climate-change problem, but laid out ways the industry and TUI could be impacted.
TUI reported significant improvements across various sectors, especially cruises, with TUI branded hotels growth a key focus going forward.
TUI Musement continued to see high growth, with a third more sales. The group will continue to invest in its own tours and activities branded offerings, according to Ebel.
Ebel noted that there has been a “doubling in the number of bookings” made via its App and has set a target of 50% of bookings to be made via its App in the next three years. The company did not expect this to come from retail, but instead wanted to concentrate on repeat customers and reduce reliance and what it considered the high costs of new customers via Google. It is also piloting a chatbot in its TUI app, available only in the UK for now.
TUI’s underlying earnings before interest and tax at $185.46 million (169 million euros) for the three months to June 30, the third quarter of its financial year, up from a loss of 27 million in the same quarter last year. The tour group reported revenue of $5.8 billion (5.3 billion euros) in revenue was up 19% from Q3 2022, and a reduced net debt by $1.2 billion (1.1 billion euros) to $2.4 billion (2.2 billion euros).
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