TUI Group reported 2024 financial results on Wednesday with a notable improvement in financial performance across the company’s three cruise brands, TUI Cruises, Marella Cruises and Hapag-Lloyd Cruises.
Underlying EBIT rose to 374 million euro, up from 236 million euro in 2023, the company said, noting it was a record.
The company also said it would continue expanding its cruise business via newbuilds for TUI Cruises, which is part of a joint venture with Royal Caribbean Group.
Total revenue for cruise operators was reported at 840.1 million euro for 2024, up from 656 million euro in 2023.
Occupancy was 101 for the TUI fleet, 78 for Hapag-Lloyd and 98 for Marella.
Average daily rates rose for all three brands, up nearly 15 percent at TUI, 1.4 percent at Hapag-Lloyd and 7 percent for Marella.
Chris Hackney, Managing Director, Marella Cruises said: “We are thrilled with the performance of Marella Cruises this year, which has made a significant contribution to TUI Group’s results.
“The strong trading environment coupled with the products we offer, drove an increase in occupancy across the fleet. Passenger numbers also rose notably this financial year, driven by the success of our newest addition to the fleet, Marella Voyager which joined in Summer 2023,” Hackney continued. “The cruise industry is incredibly buoyant, and our customers are continuing to value our TUI end-to-end service, regional flights from 22 local airports in the UK and of course our all-inclusive proposition. With our new range of cruise durations, we are well-positioned to meet the evolving demands of the cruise industry in the UK.”
