Sun-chasing Britons help Tui shrug off impact of terror fears

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Brits seeking sun in Spain and heavy bookings for a new high-end cruise ship, have helped Tui to offset a fall in demand for trips to terrorism-hit destinations, the package holiday giant said today.

Despite the tour operator behind the First Choice and Thomson brands admitting demand for trips to Turkey — where a suicide bomber killed 10 people in January — “remains subdued”, investors welcomed an otherwise bullish update. Shares rose to the top of the FTSE 100, up 59p, or 5.74%, to 1087p.

The company said bookings for the summer increased by 2% and average selling prices rose 1%, outpacing rival Thomas Cook which said last week that customers are delaying plans due to security concerns. Tui expects 10% growth in profits this year.

In the UK, it was boosted by British holidaymakers booking sunshine getaways to the Canary Islands, Spain and Cape Verde. 

There was also a surge in the UK for long-haul bookings, with strong demand for Mexico, Dominican Republic and Jamaica.

Elsewhere in the business, Tui said that there was a strong cruise bookings performance for summer 2016 as its new ship, the Mein Schiff 5, prepares to take its maiden voyage in July. 

The giant vessel has more than  1200 passenger cabins, many with private balconies, offers guests a number of restaurants to eat in, and hosts shows including acrobatics, magic and comedy.

Friedrich Joussen, Tui chief executive said: “Demand and pricing has remained resilient overall despite the impact of geopolitical events.”

Source Article from http://www.standard.co.uk/business/business-news/sunchasing-britons-help-tui-shrug-off-impact-of-terror-fears-a3215151.html

April 1, 2016 |
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