TUI assesses potential for further growth at Hapag-Lloyd Cruises through expansion of its luxury segment in the German and adjacent markets
Hapag-Lloyd Cruises has traditionally targeted guests in German-speaking countries. Demand for luxury cruises also exists in non-German-speaking markets, and, as previously communicated, TUI is evaluating its strategic expansion options.
TUI believes various expansion and financial models are feasible to support Hapag-Lloyd’s expansion. In particular, TUI is in discussions about joint venture structures such as TUI Cruises.
In line with Group strategy, the transformation to a digital company has been initiated. At the same time TUI will continue the successful integrated model while moving ahead with the expansion of the hotels and cruise business at a lower level of capital intensity.
About TUI Group
The TUI Group is one of the world's leading tourism groups and operates worldwide. The Group is headquartered in Germany. TUI shares are listed in the MDAX index of the Frankfurt Stock Exchange and in the regulated market of the Lower Saxony Stock Exchange in Hanover. TUI Group offers its 20 million customers integrated services from a single source and forms the entire tourism value chain under one roof. The Group owns over 400 hotels and resorts with premium brands such as RIU, TUI Blue and Robinson and 17 cruise ships, ranging from the MS Europa and MS Europa 2 in the luxury class and expedition ships in the HANSEATIC class to the Mein Schiff fleet of TUI Cruises and cruise ships operated by Marella Cruises in the UK. The Group also includes Europe's leading tour operator brands and online marketing platforms, for example for hotel-only or flight-only offers, five airlines with more than 130 modern medium- and long-haul aircraft and around 1,200 travel agencies. In addition to expanding its core business with hotels and cruises via successful joint ventures and activities in vacation destinations, TUI is increasingly focusing on the expansion of digital platforms. The Group is transforming itself into a global tourism platform company.
Global responsibility for sustainable economic, environmental and social action is at the heart of our corporate culture. With projects in 25 countries, the TUI Care Foundation initiated by TUI focuses on the positive effects of tourism, on education and training and on strengthening environmental and social standards. In this way, it supports the development of vacation destinations. The globally active TUI Care Foundation initiates projects that create new opportunities for the next generation.
