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TUI's cruise business sees occupancy on many sailings near 2019 peaks

PHOTO: @TUI Group CRUISE_Marella_Discovery_I.jpg
TUI Group's full cruise fleet is operating. Here, Marella Discovery
In reporting a halved first quarter loss on stronger revenues, TUI Group cited higher earnings and occupancy in its cruises division.

This includes TUI Cruises, Marella Cruises and Hapag-Lloyd Cruises.

Cruise earnings, occupancy improve

Cruise recovery continued with the third positive quarter for this part of TUI's business since the start of the pandemic. Underlying EBIT improved significantly from a loss of 32m in the previous year to a gain of 0.2m. This was due to higher occupancy and improved fleet utilization with a return to full operation. Passenger days rose by almost one third, to 2.4m.

With the entire cruise fleet operating, available passenger days in the first half of 2023 are significantly higher than last year. Occupancy on many cruises is close to the peaks last seen in 2019.

TUI Group results

Some 3.3m people traveled with TUI Group as a whole in Q1, 1m more than a year ago.

Group revenue increased to 3.8b compared to 2.4b a year ago. Underlying EBIT significantly improved; the usual seasonal loss almost halved to a loss of 153m, down from the €274m loss a year ago,