TUI Group reports strong growth for 2024, cruise delivers average 99% occupancyTUI Group reports strong growth for 2024, cruise delivers average 99% occupancy

Underlying group earnings before interest and tax increased by 33% year-on-year to €1.3b.

TUI’s cruises sector comprises the TUI Cruises joint venture with Mein Schiff and Hapag-Lloyd Cruises in Germany alongside wholly owned UK-based subsidiary Marella Cruises. The combined fleet totals 17 cruise ships with Mein Schiff 7 launched in June.

In the reporting period, earnings before interest and tax rose significantly to €374m (previous year €236m).

Occupancy over the three brands TUI Cruises, Hapag-Lloyd Cruises and Marella Cruises was 99% on average (versus 94% last year), while available passenger cruise days rose overall by 2% to 9.7m.

Marella Cruises

Marella Cruises’ md Chris Hackney, said the brand ‘made a significant contribution to TUI Group’s results’ and citing the strong trading environment coupled with products which, ‘drove an increase in occupancy across the fleet.’

He commented, ‘Passenger numbers also rose notably this financial year, driven by the success of our newest addition to the fleet, Marella Voyager which joined in summer 2023. The cruise industry is incredibly buoyant, and our customers are continuing to value our TUI end-to-end service, regional flights from 22 local airports in the UK and of course our all-inclusive proposition.'