TUI Put Good Numbers on the Board in 2004

Europe´s biggest tourism company, TUI, said 2004/05 booked sales in its tourism division are growing faster than last year, rising 5.3 percent as travel demand grows in western and central Europe.

Booked turnover for the current winter season rose 4 percent as customer numbers increased 3.2 percent, TUI said at the international tourism fair in Berlin on Saturday.

Booked sales for the coming summer season ending October 31 are up 7 percent from a year earlier, with 6.6 percent more customers. Tourism revenues are up 5.4 percent in the German company´s domestic market.

"We will have to see if this trend continues in the coming weeks, but we currently see no signs that this development is weakening," said TUI Chief Executive Michael Frenzel.

The increase in tourism sales has been driven by growth in Scandinavia and western Europe, TUI said.

Sales are up 16.7 percent for the coming summer season in the Nordic countries, following a restructuring of the business, while summer tourism revenues are up 14.5 percent in France, where TUI has expanded its product range.

Ireland is the only market to show a decline in sales for the summer, down 13.6 percent.

But summer sales are only up 1.6 percent in the important British market, where TUI is cutting jobs and restructuring its branding to boost profitability and cater for increasing use of the Internet and phone to book travel.