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TUI's finances improve

The German group revealed its fourth quarter results (October 1 - December 31, 2017) at the meeting of the board of directors in Hanovre, Germany.

The group TUI realized turnover of 3.58 billion euros between October 1 and December 31, 2017, meaning a de 9.1% increase over the previous period. It also reduced its operating losses (EBITDA) by 57.91% and saw its clientele increase by 4.4%.

"Our strategy has met with success. We concentrate on hotels and cruises. Whereas we were a commercial business, we became developers, investors and operators. This makes TUI more profitable, and we now generate income more steadily across twelve months," declared Friedrich Joussen, CEO of TUI Group.

The French market nonetheless casts a shadow on these illustration thanks to results following their annual decline brought on by the inclusion of losses on a full quarter of Transat France, which it acquired in October 2016.

As of January 1, 2017, TUI Group ranked 16th hotel group worldwide with 303 properties totaling more than 97,000 rooms, according to data published by Hospitality ON.

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