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Package holiday demand remains high – TUI
The same propotion of people plan to take a foreign holiday in 2009 as last year, with the majority planning to take a package, TUI Travel said today.
Europe’s top travel group released the findings of research alongside its interim management statement which showed that 87% plan to take an overseas holiday this summer.
Of those, 94% said they will be taking a package holiday, up from 85% a year ago.
This demonstrates that more people intend to take an ATOL-protected package holiday in summer 2009, the company said.
"Despite the challenging trading environment and an anticipated flatter bookings profile, we are achiving our load factor and margin targets due to our ongoing management of capacity, and we expect this to mcontinue through the summer season," the statement said.
TUI described the research findings as being consistent with bookings pre-Christmas and the new year for the winter. It has also seen stronger booking patterns in the last few weeks.
Average summer selling prices are 11% up over the last ten weeks with consumer demand strong for medium haul destinations such as Egypt and Turkey, while demand for all inclusive holidays is "significantly ahead" of last year.
Overall charter sales from the UK are ten per cent down, with the number of customers 19% down. Long haul is showing the steepest decine with sales 17% down against short haul 15% down and medium haul down by seven per cent up to February 1.
Summer capacity has been cut by 17% from the UK and there is scope to reduce this further, TUI said.
"We are anticipating a flatter booking profile in the UK as seen in the winter season, but our excperience to date, coupled with the updated research of consumer demand and our flexible business model, means that we expect to achieve our target load factors at satisfactory margins," the statement said.
For this winter, UK selling prices are 10% up from the UK with Egypt, Dominican Republic and Mexico popular. Charter capacity has been dropped by nine per cent and margins are "broadly in line" with last year.
TUI Travel expects to achieve at least £100 million in synergy savings in the current financial year, up by £65 million year-on-year. The group, parent of Thomson and First Choice, is "on track" to deliver the total target of £175 million.
by Phil Davies
Phil Davies
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