The world’s largest travel group, TUI, has said it is on course to maintain earnings growth for the 2016-17 trading year, despite the hurricanes that have ravaged Florida and the Caribbean.
The company said sales in the UK had also remained strong, despite the impact of weaker sterling on accommodation costs.
German-based TUI, which trades on both the Frankfurt and London stock exchanges, said in the trading update it was set to achieve at least 10% growth in underlying earnings for the year ending September. The full results are due to be released in December.
Phasing out Thomson brand
The company – which is phasing out the Thomson brand – also announced plans to start trading under the TUI name in the UK in the next few weeks.
TUI Group chief executive Friedrich Joussen, said: “As we near the end of the third financial year post merger, our results and trading performance show that we are consistently delivering our growth strategy.
“Our hotel and cruise brands continue to perform very well, having further expanded their unique offering this year.”
Mr Joussen said TUI’s hotels and resorts division had continued to perform well, with high occupancy rates and an increase in average revenue per bed over the previous year.
Hanover-headquartered TUI opened ten new hotels during the year, bringing the total openings since the merger of its two operating companies in December 2014 to 28. Two new cruise ships were also launched.