Travel giant Tui Group is confident about keeping stable prices for summer 2024 as consumers are still prioritising holidays, its chief executive says.
Speaking on a call after its second-quarter results were released, Sebastion Ebel said the group saw a “wonderful close” to the winter season and the summer “continues to be to be strong”.
The winter 2023-24 season saw a “strong lates market”, said Tui’s results statement, with bookings up 9% year on year, and prices up 3%.
It said demand for summer 2024 is “continuing promisingly”, with bookings up 5% and prices up 4%, “highlighting resilience in demand”.
Overall, the group has sold 60% of its summer holidays – a figure that rises to 65% in the UK market.
“We still need 40% of the bookings for summer and we are working hard to bring them in in a very positive manner,” Ebel said, noting the situation was in line with last year’s sales.
“This is a position which feels to be good for us and makes us very confident for the summer.”
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He pointed out that the group can shift holidaymakers to eastern Mediterranean countries if destinations such as Spain reach “capacity constraints”.
“We are confident that the market is solid,” he added.
“We put a lot of effort into getting customers early.
“If there are opportunities for dynamic packaging in the lates market, we will look for [them].
“People are booking steadily; we do not have to be chasing after the last customers, the market is very stable.
“We have seen strong last-minute sales in winter – good prices, for us. I would expect a normal last-minute business with normal prices, not low, low last-minute [prices].”
All destinations are reporting higher sales than for summer 2023, with Greece, Turkey and the Balearics proving the most popular.