Europe’s largest tour operator, Tui, has hailed a “very good year” and said winter and summer bookings are up, as it raised its prices and sold more package holidays.
The Anglo-German firm said 20.3 million people travelled with Tui in 2024, compared with 19 million the year before, and revenues climbed by 12% to €23.2bn (£19.1bn). Underlying profits rose by a third to €1.3bn from €977m. Profit is expected to rise by between 7% and 10% next year.
Winter bookings have risen by 4% year on year, with 62% of holidays sold. Tui raised its prices by 5% and sold more package holidays and dynamically packaged trips, where travellers can book individual components with dynamic pricing.
People have been booking more package holidays as they try to control costs amid inflationary pressures, but are still keen to get away. Airlines have been hit more by rising costs and weaker business bookings, but Tui’s holiday business has thrived.
Summer bookings are 7% ahead of last year and Tui has sold 17% of those holidays, similar to this time last year, with prices up by 3%.
Tui said demand remained robust throughout the year despite strong competition, but there was a decline in customers going on long-haul trips in the Netherlands and Belgium.
Sebastian Ebel, the chief executive, said: "We will continue to focus on package holidays and our good cooperation with travel agencies."
It is US inflation day, and financial markets are on tenterhooks.
We are expecting the annual rate of the consumer prices index to tick up to 2.7% from 2.6%, while the core measure, which strips out volatile items such as food and energy, is forecast to have stayed at 3.3%.
The agenda
• 1.30pm GMT: US inflation for November (forecast 2.7%; previous 2.6%)
• 2.45pm GMT: Bank of Canada interest rate decision
We'll be tracking all the main events throughout the day … |
