Hapag-Lloyd, Tui, cruise, capacity, penetration, Europe, Joussen, interview, future
Hapag-Lloyd’s MS Europa / TUI

Tui is “very bullish” on cruises in Europe

The chief executive says he is open to further ships and thinks Europe can overtake the US in cruise penetration.

Tui Group’s chief executive is not ruling out adding further ships to its cruise brands, saying he believes Europe could overtake the US in terms of cruise penetration.

Fritz Joussen was speaking after the release of the group’s half-year results, in which the group revealed it would be adding a third Hapag-Lloyd vessel, TTG reports.

Hapag-Lloyd Cruises will soon launch the planning and negotiation process for a further Hanseatic-class ship, planned for delivery in 2021.

More ships
Asked about further ships for the group, Joussen replied: “I wouldn’t exclude it. It’s something we are looking at but it needs to be rational and within the guidance of our investment promise to the financial market.”

He sees the cruise market “only growing” in the next five to seven years, he added.

“The US market is still ahead in terms of penetration. […] In Europe in general people are older and fitter and people are wealthier and have more time,” he said.

“If cruise penetration today in Europe is lower than in the US, we assume over time that Europe is going to catch up with the US or overtake it in terms of penetration.”
Marella and Tui Cruises have both seen a capacity increase of at least 20% over the last year, and the rates are increasing, Joussen said.

“That says something about the demand and the future. We are very bullish on this segment.”

Related stories

Europe cruise capacity to rise 70% in ten years

Tui boosts activities and excursions, improves seasonal loss

TUI expands cruise with new ships

x

Check Also

Tui, tour operator, resort, beach, hotel, profits, tour operators, Europe, weather, temperatures, heat, staycations, world cup, strikes, ATC

Heatwave melts Tui’s profits

The tour operator giant blames the hot weather and strikes for its profit slide as Europeans stay at home.

Copenhagen, Port, cruise, passengers, record, number, ships, calls, 2018, 2019, terminal

Copenhagen to get new cruise terminal for 2020

Set to open in April 2020, the terminal will help the city cope with the rising tide of cruise passengers.

Hapag-Lloyd Cruises, shipyard, expedition, ships, vessels, cruise, Arctic, Antarctica, Amazon, adults-only, tui, order, vard

Hapag-Lloyd to add ‘adults-only’ expedition ship

Now three new expedition ships are to be built in Norway for the TUI-owned cruise company.

Seabourn, Cruise, ships, vessels, submarines, boats, Zodiac, kayak, Arctic, Antarctica, expedition cruise, market, companies, lines, Ponant, Silversea, trend

Seabourn signs up for expedition ships – with subs

Seabourn Cruise Line joins an increasingly crowded market of lines getting into expedition cruising.

Ritz-Carlton Yacht Collection, travel, trends, Ritz, cruise, luxury, brand, Marriott, hotel, Prothero, interview

After Ritz-Carlton, Marriott may ‘float’ more brands

Not only will the luxury hotel brand build more luxury cruise ships, other Marriott brands may follow.

TUI, excursions, value guarantee, cheaper, price, cost, plus, collection

TUI reveals “value guarantee” for all excursions

If a guest finds the same product cheaper elsewhere the difference will be refunded, the operator promises.