Reporting its third quarter 2022 results, TUI Group noted improvements for its trio of cruise brands in TUI Cruises, Hapag-Lloyd Cruises and Marella Cruises with its full fleet back in service.
Occupancy improved for the Mein Schiff fleet to 70 percent from 41 percent last year; Hapag-Lloyd Cruises saw its fleet-wide occupancy at 57 percent and Marella Cruises reported 70 percent
Average daily rates also went the right way, at 188 euros for TUI Cruises from 125 a year ago. The company said the average rate had improved to pre-pandemic levels.
Marella Cruises saw its average daily rate improve to 160 euros from 128 a year ago. Hapag-Lloyd posted a nice gain as well, reporting 616 euros per day per passenger up from 443 a year ago..
“Cruises continue to recover into Q4, with occupancies building steadily at higher rates. Short-term bookings continue to represent a large share of overall bookings,” the company said in its earnings press release.