TUI Earnings: ‘Booked Occupancy Rates Remain Significantly Higher’

Mein Schiff 3

TUI Group has released its 2023 third quarter quarterly report, noting that cruise prices were 9 percent ahead of late 2022, “with rates for many itineraries achieving the peaks last seen in 2019.”

This is across the company’s 16-fleet ship including a trio of brands: TUI Cruises, Hapag-Lloyd Cruises and Marella Cruises. The company also noted that booked occupancy rates were significantly higher than the year prior, and are 13 percent ahead for the fourth quarter.

The company reported occupancy of 95 percent for the third quarter, with 2.3 million available passenger cruise days and a daily rate of 219 euro, up six percent year-over-year.

Occupancy broke down as such: 98 percent for TUI Cruises, 95 percent for Marella and 73 for Hapag-Lloyd.

The average daily rate was up at all three brands, reported at 191 euro for TUI Cruises, up to 706 euro for Hapag-Lloyd, and 178 euro for Marella, up from 160 euro the year prior.

Total revenue for the cruise segment was reported at 164.6 million euro, up 59 percent from the third quarter of 2022.

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