The boss of TUI said customers are booking holidays ‘even in times of change and economic risks’ – but shares slid after it cautioned of slowing growth. The German travel business reported group revenues of £4.1billion between October and December – up 13 per cent on a year earlier. But it said bookings for winter and summer this year are up just 2 per cent despite prices being 4per cent higher.
While winter destinations including the Canary Islands and Egypt remain popular, along with summer spots including Spain, Greece and Turkey, the more subdued outlook sent shares down 10 per cent in Frankfurt. Chief executive Sebastian Ebel said: ‘People prioritise their holidays even in times of change and economic risks. ‘Our hotel and cruise businesses are growing continuously and are highly profitable.’.
Julie Palmer, a partner at business recovery specialist Begbies Traynor, said: ‘It is encouraging to see that cash-conscious customers are still willing to shell out for Tui’s budget-friendly holidays, even as the operator nudges up prices.’. Tui boss Boss Sebastian Ebel (pictured) said people were still prioritising their holidays even in times of change and economic risks. Affiliate links: If you take out a product This is Money may earn a commission. These deals are chosen by our editorial team, as we think they are worth highlighting. This does not affect our editorial independence.
