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TUI weighs Hapag-Lloyd growth through possible joint venture

Hapag-Lloyd Cruises' Europa 2
The TUI Group is assessing the potential for further growth at Hapag-Lloyd Cruises through expansion of its luxury segment in the German and adjacent markets.

Widespread luxury demand

Hapag-Lloyd Cruises has traditionally targeted customers in German-speaking countries. Considering the demand for luxury cruises, TUI said it is evaluating the brand’s strategic expansion options in other markets.

In particular, the group is in discussions about joint venture structures such as TUI Cruises, a corporate spokesman said Wednesday.

A refreshed fleet

Hapag-Lloyd Cruises consists of Europa, Europa 2, the four-star expedition ship Bremen (which has been sold to Scylla and is scheduled to sail as Seaventure for its VIVA Cruises starting in May 2021) and the new five-star expedition sisters Hanseatic Nature and Hanseatic Inspiration, with Hanseatic Spirit to come in 2021.

TUI Cruises, the TUI AG joint venture with Royal Caribbean Cruises Ltd., began in 2008 and now consists of five vessels, with Mein Schiff 7 scheduled for 2023 delivery.

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