TUI Group is strengthening its presence in China, with the joint venture with the Chinese CTS Group extended by 15 years to 2033. TUI China was established by CTS and TUI in 2003, with the new deal revealed as TUI Group chief executive Fritz Joussen visits to China.
The UK’s leading holiday companies, Thomson and First Choice, have announced their summer 2018 holiday line-up with an expansion of their mid-haul holiday collections following a rise in holidaymakers looking for destinations a little closer to home.
Mike Schwanke will become managing director at Robinson Club from May, joining the company from his current position as director sales at TUI Cruises. He will jointly manage the quality and market leader for premium club resort holidays with managing director Bernd Mäser.
TUI Group has delivered growth in turnover at the start of financial 2017, while the seasonal quarter one loss at the travel giant was also reduced year-on-year. On a constant currency basis, underlying EBITA rose by 17 per cent to a loss of €66.7 million in the period from October to December.
TUI Group has reached an agreement with private equity firm KKR to sell Travelopi for £325 million. The deal values Travelopi at 14.4 times its 2016 underlying EBITA and 7.7 times its underlying EBITDA.
Cape Verde has seen the soft launch of its first adult-only hotel and luxury beach club, Bikini Beach. Developed by the luxury resort hospitality company The Resort Group, the hotels will welcome the first guests on December 18th. Located on the white sands of the island of Sal, Cape Verde, the new developments offer total bliss and relaxation.
This December leading UK holiday company, Thomson, will mark its ultimate campaign titled ‘Moments’, airing before Christmas ahead of rebranding to TUI in 2017. Thomson is proud to have led the way since the 1960’s by producing emotive holiday campaigns, with the new creative continuing the legacy theme as the story signifies the importance of enjoying those important holiday ‘moments’ with loved ones.
TUI Group has reported an operating result of €1.001 billion for the financial year, up from €953 million last year. The figure excludes the specialist unit Travelopia, which is available for sale as announced and is accounted for as discontinued operation.
TUI AG‘s supervisory board has given the green light today for further steps with the goal to create a new European airline joint venture with Etihad Aviation Group. TUI Group’s supervisory body approved the plan to contribute its German leisure airline subsidiary TUI fly GmbH to a joint venture with Etihad.