Hanover, 15 January 2020

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

TUI Group is the world’s leading integrated tourism group operating in more than 100 destinations worldwide. The company is headquartered in Germany. The TUI Group’s share is listed in the FTSE 250 index and in the German open market.

In financial year 2019, TUI Group recorded turnover of around €19bn and an operating result of €893m. The Group employs more than 70,000 people worldwide. TUI offers its 28 million customers, including 21 million customers in European national companies, integrated services from a single source. It covers the entire tourism value chain under one roof. This comprises more than 400 hotels and resorts with premium brands such as RIU, TUI Blue and Robinson as well as 18 cruise ships ranging from the MS Europa and MS Europa 2 luxury class vessels and expedition ships to the Mein Schiff fleet of TUI Cruises and the vessels of Marella Cruises in the UK. The Group also includes leading European tour operator brands, five airlines with 150 modern medium- and long-haul aircraft and 1,600 travel agencies. Apart from the expansion of its core business with hotels, cruises and destination activities, TUI is increasingly investing in digital platforms. The Group is transforming as a digital company.

Global responsibility for sustainable economic, ecological and social activity is a key feature of our corporate culture. TUI Care Foundation, initiated by TUI, promotes the positive effects of tourism, education and training as well as environmental and social standards with projects in 25 countries. It thus contributes to the development of the holiday destinations. TUI Care Foundation, operating around the world, initiates projects creating new opportunities for the next generation.