TUI Group has seen a strong second quarter in the financial year, welcoming 2.8 million guests and generating a record turnover of 3.6 billion euros, marking a 16% increase from the previous year (Q2 2023: 3.2 billion euros). Both the Hotels & Resorts and Cruises divisions delivered outstanding performances, contributing to a notable improvement in underlying Group EBIT, which reached -189 million euros during the traditionally slower second quarter of the fiscal year.
TUI Group CEO Sebastian Ebel emphasized the growing popularity of travel and the resilience of the company’s business model.
The Hotels & Resorts segment achieved a record result of 117.4 million euros in the first months of 2024, a significant increase from the previous year’s 78.0 million euros. With increased overnight stays and higher room rates, the division saw its highest-ever total revenue of 247.3 million euros.
The Cruises sector also performed exceptionally well, with underlying EBIT quadrupling to a record 70.1 million euros, driven by higher capacity utilization and improved average rates.
TUI Musement experienced a 15% revenue growth to 149.5 million euros, highlighting its strong growth within the Group’s integrated business model.
Despite a lower underlying EBIT in the Markets & Airlines segment due to the absence of positive results from a previously sold tour operator venture in Canada, the company remains optimistic with strong winter results and promising summer bookings.
TUI confirms its full-year guidance, expecting revenue to increase by at least 10% and underlying EBIT to increase by at least 25% compared to the previous year.
