TUI, the UK's largest holiday and travel company, has introduced a new price match guarantee for its package holidays. If a traveller books a holiday and finds the same deal cheaper elsewhere within 72 hours, TUI will refund the difference. The company states: 'Once you've booked a holiday with us, we'll match the price of any other package holiday with TUI flights, as long as all the details align and you let us know within 72 hours of booking.'
Strict Conditions Apply
To claim the price match, customers must find a better deal within 72 hours of booking. The alternative holiday must match exactly, including flights, accommodation, and all other details. Claims can be submitted via an online form, and customers are advised to review the terms and conditions before applying.
Impact of Geopolitical Events
TUI recently reported a 10% drop in UK summer bookings, attributing it to the Iran conflict and hurricanes in Jamaica. The company absorbed a €61 million loss from these events. Booked revenues for summer are down 7% overall, with the UK market seeing a 10% decline. The war between the US, Israel, and Iran has shifted demand from eastern to western Mediterranean destinations, and customers are booking closer to departure dates.
Financial Performance
TUI posted an underlying loss of €111 million for the first half of the year, improving from a €156 million loss the previous year. The company expects a full-year operating profit of €1.1-1.4 billion, below earlier targets of €1.5-1.6 billion. CEO Sebastian Ebel said: 'The very strong results give us confidence for the second half of the year. Due to geopolitical challenges and dynamic market conditions, it will require great dedication and flexibility.'
Destinations and Outlook
Despite challenges, TUI expects Spain (including the Balearics and Canary Islands) and Greece to remain top summer destinations. The company also noted that two cruise ships, which were docked in Abu Dhabi during the Iran conflict, have safely departed and will begin Mediterranean itineraries from mid-May.
