Operator to open lower-cost hotels in Bulgaria and Croatia
More hotels in low-cost destinations such as Bulgaria and Croatia are planned by Tui Group, the world’s biggest integrated tourism group. Though open to all, they will be specifically aimed at UK holidaymakers who are feeling poorer since the Brexit referendum.
Brexit has seen the British pound slump in comparison with the euro and other currencies, hitting Brits’ spending power, prompting Tui to come up with rescue packages.
Tui says British tourists typically spend around £1,000 on a holiday, a figure that has stayed the same as the value of the pound falls, bne IntelliNews reports.
Pound has diluted 20%
The operator is planning ahead, said CEO Fritz Joussen in a recent conference call, even though any planning is “very difficult” as EU-UK negotiations continue.
“The facts are that after the Brexit vote, the pound diluted 20%,” Joussen said, adding that Tui is responding by investing in new developments in countries like Bulgaria and Croatia. Supply will respond, he said, to changes in the market.
Already opened in July is the first Tui Blue hotel in Croatia. Joussen also mentioned a comeback in Turkey and North Africa.