Tui Group remains optimistic about maintaining steady pricing for summer 2024 as holiday demand persists. The company’s chief executive, Sebastion Ebel, emphasises positive market conditions following robust winter sales.
- Winter 2023-24 ended on a high note for Tui with a 9% increase in bookings and a 3% rise in prices.
- Preliminary data for summer 2024 shows promising momentum, with a 5% increase in bookings and 4% in pricing.
- Around 60% of Tui’s summer holidays are already sold, with the UK market achieving a 65% sales rate.
- Ebel is confident in the market’s strength and anticipates stable last-minute business, avoiding overly low pricing.
Tui Group continues to project confidence in its ability to sustain stable pricing for the summer of 2024 amid ongoing consumer prioritisation of holidays. Chief executive Sebastion Ebel detailed the group’s strong performance in a recent conference call discussing its second quarter results. Ebel shared that the winter 2023-24 season concluded positively, with bookings seeing a 9% increase and prices climbing by 3% compared to the previous year.
Looking ahead to the summer of 2024, Tui is witnessing a similarly encouraging trend, evidenced by a 5% rise in bookings and a 4% increase in average price levels. With approximately 60% of summer holidays already sold, and 65% in the UK alone, Ebel noted the current booking pace aligns with last year’s figures, reinforcing the group’s robust market positioning.
Ebel expressed confidence in the company’s strategy to secure early bookings and noted that the group is well-prepared to accommodate demand shifts to eastern Mediterranean locations if traditional destinations like Spain experience capacity challenges. He reiterated the group’s belief in the resilience of the market, stating, “We are confident that the market is solid.”
Interestingly, Ebel pointed out the group’s approach to managing last-minute bookings, which remains steady without resorting to deeply discounted pricing. This outlook is supported by strong last-minute winter sales, prompting Ebel to anticipate a normal last-minute business pattern for the summer, with “normal prices, not low, low last-minute [prices].”
In conclusion, Greece, Turkey, and the Balearic Islands are emerging as the most popular destinations this summer, with all locations reporting stronger sales compared to the previous year.
Tui Group enters summer 2024 with a steady pricing plan, supported by robust market confidence and solid booking trends.
