TUI Group Posts Encouraging Cruise Numbers for First Half Results

Mein Schiff 5

Operating 14 out of 16 ships across the TUI, Hapag-Lloyd and Marella fleets, TUI Group has reported encouraging cruise metrics for the first half of 2022.

Highlights:

  • TUI Cruises operated six ships out of its seven-ship fleet in Q1 2022. Average daily rate of €155, up 32% versus prior year (Q1 2021: €118 and three ships operated), reflecting the resumption of cruises in the Canaries, the Caribbean and United Arab Emirates versus the shorter average duration “Blue Cruises” operated in the prior year.
  • Occupancy of the operated fleet was 53%, increasing 18%pts on the prior year (Q1 2021: 35%) with the latter end of the quarter impacted by both short-term Omicron-related amendments and the early curtailment of Mein Schiff 6 due to rising incidence rates.
  • Hapag-Lloyd Cruises average daily rate across its full fleet of five ships was €624, up 44% versus prior yea (Q1 2021): €434 and two ships operated) reflecting the resumption of world itineraries as well as trips to Antarctica and the United Arab Emirates. Occupancy of the full fleet was 50% increasing 13%pts on prior year (Q1 2021: 37%), with the latter end of the quarter impacted by both short-term Omicron-related amendments and the early curtailment of two ships due to rising incidence rates.
  • Marella Cruises operated three ships out of its four-ship fleet in Q1, delivering average daily rate of £142 and occupancy of 48% versus a previous Q1 which saw operations suspended in line with UK government travel advice.
  • Similar to TUI Cruises and Hapag-Lloyd Cruises, Marella also saw short-term amendments for November and December 2021 departures.
  • TUI Cruises and Hapag-Lloyd Cruises delivered a €66.7m improvement in underlying EBIT versus the prior year. The improvement reflects the wider resumption of operations.
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