Pent-up demand fuels a summer holiday splurge at TUI with bookings up a fifth on pre-pandemic levels
Europe’s biggest travel agent said the UK is driving a summer holiday boom, with bookings up a fifth on pre-pandemic levels.
But Tui warned that demand was pushing up prices and summer breaks will be 22 per cent more expensive than two years ago.
Caribbean destinations such as St Lucia are seeing particularly strong demand. Chief executive Fritz Joussen said: ‘We expect a strong summer 2022. There is pent-up demand among customers.’
Hot tickets: Tui warned that demand was pushing up prices and summer breaks will be 22% more expensive than two years ago
He highlighted the ‘incredibly high’ amount some households have saved through the pandemic.
Bookings by UK holidaymakers are 19 per cent higher than two years ago.
But as European countries lag behind in the travel recovery, summer bookings across the German group are at just 72 per cent of 2019 levels.
Tui said sales hit £2billion in the three months to the end of December, up from £400million a year earlier.
Its losses also narrowed to £230million from £339million a year earlier.
The shares fell 1.8 per cent, or 4.6p, to 255.6p, despite the positive news.