Tui Reports Steady Demand Amid Heatwaves and Middle East Tensions
Tui continues to thrive despite heatwaves and Middle East conflicts, reporting steady demand and strong winter bookings.
Tui Reports Resilient Demand
Despite facing challenges such as scorching heatwaves across Europe and geopolitical tensions in the Middle East, holiday titan Tui has reported a steady demand for its services. The company has recorded an additional 1.4 million bookings since mid-August, bringing the total to an impressive 14.1 million.
Summer Bookings and Price Stability
While overall bookings for the season are down by 2% compared to last year, Tui has managed to raise its average selling prices by 3%. The firm stated, "Demand has remained steady even as we navigate competitive market pressures, multiple summer heatwaves across our source markets, as well as the impact of the conflict in the Middle East."
Positive Winter Outlook
Looking ahead, winter trading has started on a positive note, with bookings increasing by 1% year-on-year, totaling 1.8 million, and prices also holding steady with a 3% increase. Popular destinations like Turkey, Greece, and the Canaries have seen strong performance during the summer, while Egypt is emerging as a favored spot for budget-conscious travelers.
Future Projections
Tui remains optimistic about its financial outlook, projecting an increase in total underlying earnings by 9% to 11% this year, up from a previous forecast of 7% to 10%. In the winter months, the Canaries, Egypt, and even long-haul destinations like Thailand are expected to see a surge in popularity.
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