TUI AG, the German tour operator that is listed in London, said that its core markets continue to grow despite headwinds in some parts of its business.
“Despite the challenges experienced by Markets & Airlines, demand for leisure travel continues to grow in our core markets,” TUI said.
TUI AG owns 50% of the German cruise operator TUI Cruises and is full owner of the expedition and luxury operator Hapag-Lloyd Kreuzfahrten and UK based Marella Cruises. It did not suggest that there was problems with these businesses
“We have positioned TUI to benefit from this through the successful transformation as an integrated provider of Holiday Experiences (hotels, cruises and activities & excursions), based on its strong strategic and financial position,” TUI said.
TUI is planning to enter into new markets generating €1 billion of revenue from one million customers by 2022, driving more demand for our own hotels. Holiday Experiences delivered 70% of earnings in FY18 and we expect continued strong performance from these parts of our business.
“Having delivered this transformation, we expect the ongoing digitalisation and platforming of our business to drive future earnings, positioning TUI to continue to benefit from the strong mid- to long-term growth in consumer demand for leisure travel,” the company stated.