Development

TUI Hotels & Resorts Unveils Growth Plans

TUI plans to expand its leisure hotel activities this year after a successful 2003 in difficult market conditions.

TUI The group’s division, TUI Hotels & Resorts, increased the total number of overnight stays from 28.2 million in 2002 to 30.8 million last year and achieved "a very good result”.

Importantly, the average occupancy rate in its 287 hotels (with over 150,000 beds) rose from 75% to about 80%. "Even in economically challenging times like last year, our hotel holdings are a reliable factor within the value chain,” stressed the division’s director Karl Pojer.

"We are delighted to have reached our targets and even generated additional growth.” In 2004, the division will open 13 new hotels to maintain its growth path. Riu, a 50% TUI holding, will open five properties, a new complex with three Grecotels will open in Greece, Iberotel will have new three properties and Grupotel and Robinson one each.



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